Degussa: More Time Needed on Antitrust Examination of Sale of dmc² to OM Group

04-Jul-2001

More time is required for the antitrust proceedings being conducted by the Federal Trade Commission (FTC) of Washington, D.C., on the sale of dmc² to the OM Group, Inc., of Cleveland/Ohio. This is because the FTC is simultaneously examining the possible effects of OM Group's intended resale of dmc² activities to Ferro Corp. Completion of the antitrust proceeding can presumably be expected in about 60 to 90 days.

Degussa AG of Duesseldorf, Germany, sold dmc² to the strategic investor OM Group for EUR 1.2 billion in late April.

dmc² is a globally operating manufacturer of complex functional materials in the catalysis and metallochemistry areas, and also supplies powders and pastes made of precious metals, base metals and ceramic materials. In fiscal 2000, the corporation, which employs some 5,500 people all over the world, generated sales of EUR 912 million (without precious metal sales) or EUR 2,552 million (without precious metal trading), and achieved earnings before interest and tax of EUR 110 million.

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