GenTek Inc. Announces the Acquisition of Bay Chemical and Supply Company
Monday December 31, 11:36 am ET
PARSIPPANY, N.J., Dec. 31, 2007 (PRIME NEWSWIRE) -- GenTek Inc. announced today that its wholly-owned subsidiary, General Chemical LLC, has acquired Bay Chemical and Supply Company, a producer of water treatment chemicals in Odem, Texas.
The purchase price of the transaction is $7 million before any working capital adjustments.
Commenting on the transaction, Vincent J. Opalewski, Vice President and General Manager of General Chemical LLC, noted, "This transaction expands our customer base in the Texas market, adds new products to our portfolio of water treatment chemicals and allows us to drive incremental savings through our raw material sourcing arrangements.'' William E. Redmond, Jr., GenTek's President and Chief Executive Officer, added, "This acquisition fits well with our stated objective to invest in the company's core assets, chemical and auto/truck valve train systems, to accelerate GenTek shareholder value creation.''
About GenTek Inc.
GenTek provides specialty inorganic chemical products and services for treating water and wastewater, petroleum refining, and the manufacture of personal-care products, and valve-train systems and components for automotive engines. GenTek operates over 50 manufacturing facilities and technical centers and has approximately 1,500 employees.
GenTek's 2,000-plus customers include many of the world's leading manufacturers of cars and trucks, and heavy equipment, in addition to global energy companies and makers of personal-care products.
Source: GenTek Inc.
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