Degussa-Huls and SKW Trostberg approve merger.

Degussa-Huls and SKW Trostberg approved the merger of the two companies at separate shareholder meetings in October. The aim of the merger is to create the world's leading specialty chemicals company, and both companies are entering the merger from a strong position, according to Degussa-Huls. The new company is said to focus on high-earning specialty chemicals operations, which are said to mean higher profitability, above average growth and lower cyclical exposure. Degussa-Huls AG and Krupp Uhde GmbH, headquartered in Frankfurt am Main, Germany and Dortmund, Germany, respectively, have concluded an exclusive agreement for cooperating in the development of a new process for the production of propylene oxide (PO). PO is a base chemical used primarily in the production of polyurethane and polyester resin raw materials.