CHEMCENTRAL Purchases the Specialty Additives Business of The C.P. Hall Company
CHEMCENTRAL, the world's leading privately held distributor of industrial solvents and chemicals, has signed a definitive agreement to purchase the Specialty additives business of The C.P. Hall Company. The transaction, whose terms are undisclosed, is expected to be completed early in 2003. Purchase of Midwest distribution of specialty chemicals will expand the Chicago-based CHEMCENTRAL's product offering and provide greater value for suppliers and customers.
CHEMCENTRAL President and Chief Operating Officer, John R. Yanney stated, "This acquisition is part of a strategy to expand our product line of specialty chemicals, which offer potential for higher growth and profitability. And, our newly implemented regional structure and increased emphasis on sales and marketing ensure the dedicated focus a specialty product line requires for successful market development and distribution." He added, "We are committed to providing greater service to all of our suppliers and customers." C.P. Hall's President and Chief Operating Officer, John J. Paro, said, "The divestiture of this business unit facilitates increased focus on the investment in, and development of, our patented materials and applications technologies and ongoing material science innovations in polymer additive chemistries and personal care solutions. We will continue to work with CHEMCENTRAL as a value-added channel partner for our other businesses."
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