Ethyl.Ethyl ethyl (ĕth`əl), CH3CH2, organic free radical or alkyl group derived from ethane by removing one hydrogen atom. announced that a special committee of outside directors appointed by the board of directors has responded favorably to the concept of a spin-off of the company's 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. operations. As a result, Ethyl said it will file a request with the Internal Revenue Service for a tax-free ruling covering the proposed spin-off. The business units, which Ethyl may spin off as an independent, publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. yet to be named, now make up Ethyl's Chemicals Group. |
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