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Mergers & Acquisitions

Chemours sells methylamine business

by Marc S. Reisch
January 3, 2020 | APPEARED IN VOLUME 98, ISSUE 1

 

The Chemours methylamine plant in Belle, West Virginia, slated to shut down Dec. 31, has a new lease on life. An affiliate of Cornerstone Chemical took over the business at the start of 2020 and expects to retain its 57 employees. Financial details were not disclosed. Methylamines are used in pesticides, fuel additives, and electronic chemicals. The private equity firm Littlejohn & Co. controls Cornerstone, a maker of melamine, acrylonitrile, and urea in Waggaman, Louisiana, that was once part of Cytec Industries.

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