BP Amoco Includes Foseco in Sale to Cinven.Foseco, Inc., Cleveland, is one of the Burmah Castrol specialty chemical A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. businesses to be sold by BP Amoco, plc, London, to Cinven, an European private equity group based in London. Foseco, which provides consumable A material that is used up and needs continuous replenishment, such as paper and toner. "The low-tech end of the high-tech field!" products and services to the foundry industry, is part of the multimillion dollar deal. The transaction is expected to be concluded during the third quarter of 2001. The acquisition will be made through a newly-created holding company called Foseco. Other businesses to be sold include: Foseco's stake in Fosbel, Inc., a Berea, Ohio-based joint venture that provides services to operators of coke, glass and other furnaces; Chem-Trend, Inc., a Howell, Michigan-based manufacturer of specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. mold and diecast release agents; and Remet Corp., a Utica, New York-based supplier to the investment casting investment casting Precision casting for forming metal shapes with minutely precise details. Casting bronze or precious metals typically involves several steps, including forming a mold around the sculptured form; detaching the mold (in two or more sections); coating its industry. When BP bought Burmah Castrol in March 2000, it announced its intention to sell the specialty chemicals business divisions. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion