OpenGate to acquire zinc chemicals business

The private equity firm OpenGate Capital has agreed to acquire Umicore’s zinc chemicals business in a deal that values the operation at about $160 million. With facilities in Belgium, the Netherlands, Norway, China, and Malaysia, Umicore Zinc Chemicals produces fine zinc powders, zinc oxide, and zinc for batteries. It has annual sales of more than $450 million. OpenGate already owns the polyvinyl chloride maker Kem One and several PVC building product businesses.