Witco agrees to sell assets of the Golden Bear Division to the Golden bear Acquisition Corp.Witco has agreed to sell the assets of the Golden Bear Division to the Golden Bear Acquisition Corp., a company formed by Glencoe Investment Corp. of Chicago, IL. Golden Bear is a worldwide supplier of specialty naphthenic lubricating and processing oils and a major supplier of asphalt rejuvenation Rejuvenation Aeson in extreme old age, restored to youth by Medea. [Rom. Myth.: LLEI, I: 322] apples of perpetual youth by tasting the golden apples kept by Idhunn, the gods preserved their youth. [Scand. Myth. and dust suppression products. Witco plans to consolidate its production of specialty chemicals 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. at major, world-class manufacturing facilities, bringing its number of plant sites to 31 from 46. In line with this restructuring plan, the company has authorized more than $50 million for modernization modernization Transformation of a society from a rural and agrarian condition to a secular, urban, and industrial one. It is closely linked with industrialization. As societies modernize, the individual becomes increasingly important, gradually replacing the family, , expansion, and safety and environmental improvements to its Memphis, TN manufacturing facility. Of this, in excess of $10 million over the next year will be spent to bring the metallic stearate stearate /ste·a·rate/ (ste´ah-rat) any salt (soap), ester, or anionic form of stearic acid. ste·a·rate n. A salt or ester of stearic acid. stearate any compound of stearic acid. production presently produced at its Perth Amboy Perth Amboy (ăm`boi), city (1990 pop. 41,962), Middlesex co., NE N.J., with a harbor on Arthur Kill at the mouth of the Raritan River, which is crossed there to Staten Island, N.Y., by the Outerbridge Crossing (1928); settled 1683, inc. , NJ, Clearing, IL and Oakville, Canada plants to the Memphis facility. To avoid any interruption in customer service, Witco will continue to operate these stearates units until the new production is fully functional and customer qualifications have been received. Construction is expected to be completed within one year. |
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