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Elementis Specialties, a maker of functional additives, has agreed to purchase the assets of coatings additive company Hi-Mar Specialty Chemicals for $33 million in cash. Milwaukee-based Hi-Mar manufactures defoamers for the coatings, construction, and oil drilling markets. Combining the market positions and technical capabilities of the two firms will create growth, Elementis says. The British firm also intends to expand Hi-Mar’s presence outside North America.
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