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Great Lakes and Laurel form joint venture.

Great Lakes Chemical Corporation, Indianapolis, IN, and Laurel Industries, Inc., a part of the chemical operations of Occidental Petroleum Corporation (Oxy-Chem), Indianapolis, IN, have announced the combining of their antimony businesses as part of a joint venture to develop, produce, and market antimony-based flame retardants, synergists, and catalysts. Great Lakes and Oxy-Chem will both hold a 50% stake in the new company, which will operate under the name GLCC Laurel LLC. Expected to be completed by the end of April, the transaction includes the antimony oxide and synergists manufacturing assets, intellectual property, and customer lists for both organizations. Great Lakes will act as managing partner with sales, customer service, technical support, credit, and logistics responsibilities. Manufacturing for the joint venture will be consolidated into the existing Great Lakes antimony production facility in Reynosa, Mexico, which is ISO 9001:2000 certified.
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Title Annotation:Business & Industry
Publication:JCT CoatingsTech
Geographic Code:1USA
Date:May 1, 2004
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