BETZ LABORATORIES COMPLETES SALE OF COAL MINING CHEMICALS BUSINESS TO STOCKHAUSEN, INC.
BETZ LABORATORIES COMPLETES SALE OF COAL MINING
CHEMICALS BUSINESS TO STOCKHAUSEN, INC.
TREVOSE, Pa., Nov. 13 /PRNewswire/ -- Betz Laboratories, Inc. (NASDAQ: BETZ) today announced the sale of the specialty chemicals business of its Betz Mining Chemicals Division to Stockhausen, Inc. of Greensboro, N.C.
The coal mining chemicals business was less than 2 percent of Betz consolidated sales, which were $596.8 million in 1990. Details of the cash transaction were not disclosed.
The sale focuses on specialty chemicals used in coal preparation plants. Betz provided a complete line of treatment programs to the coal mining industry, such as flotation reagents, flocculants, dust control agents, freeze conditioning products, and dewatering aids.
Included in the transaction are exclusive patents and other technology, equipment, product inventory, and key personnel in sales and engineering.
Stockhausen, Inc. is the U.S. subsidiary of Chemische Fabrik Stockhausen GmbH, Krefeld, Germany, which in turn is two-thirds owned by Huels AG, a large multinational chemical company. Huels is a major manufacturer of basic and organic chemicals, thermoplastics, elastomers and raw materials for surface coatings. Stockhausen is a world leader in manufacturing and marketing specialty chemicals for the hygiene, textile, leather, paper, sugar, mining and fertilizer industries, as well as skin protection products. For more than 40 years, its Chemical Division has actively provided essential chemicals for the coal mining industry, such as flocculants, flotation and dust control agents.
According to J.F. McCaughan, chairman of the board and chief executive officer of Betz Laboratories, the sale will benefit both companies: "Stockhausen will complement and expand its acrylamide polymer treatment product lines for the mining industry with the newly acquired specialty chemical business, while Betz will concentrate its market development emphasis in its core business."
Betz Laboratories, Inc. provides engineered programs and specialty chemical products for the treatment of water, wastewater, and process systems. The company also provides feeding equipment and computer-based systems for the automatic monitoring and control of its chemical treatment programs through the Betz Equipment Systems Division.
/CONTACT: R.J. Palangio of Betz Laboratories, 215-953-2417/
(BETZ) CO: Betz Laboratories, Inc.; Stockhausen, Inc. ST: Pennsylvania, North Carolina IN: CHM SU: RCN KA-CC -- PH028 -- 4030 11/13/91 14:28 EST