Engelhard Acquires Adsorbents Business
Thursday September 8, 7:00 am ET
Expands Technology Base, Market Reach
ISELIN, N.J.--(BUSINESS WIRE)--Sept. 8, 2005--Engelhard Corporation announced today that it has acquired U.S.-based Almatis AC, Inc., formerly the adsorbents and catalyst business of Almatis. The purchase price was not disclosed.
Almatis AC is a major developer and producer of alumina-based adsorbents and purification catalysts for the natural gas, petrochemical, compressed air and hydrogen peroxide markets.
The acquisition strengthens Engelhard's leadership position in moisture control and purification for a variety of industries around the world. It expands the company's technology portfolio to include high-purity alumina products, catalyst supports and alumina-based adsorbents and desiccants. Engelhard also acquires new production capabilities, including two manufacturing and product-development facilities in Port Allen and Vidalia, Louisiana.
"This acquisition will be accretive to earnings and provide positive cash flow from operations in the first full year," said Barry W. Perry, Engelhard's chairman and chief executive officer. "It supports our growth strategy of broadening our competencies in surface and materials science and expanding our portfolio of applications and served markets."
"Almatis AC brings Engelhard unique alumina-based products that complement our current portfolio of mineral and silica adsorbents and catalysts," said Craig Ostroff, general manager of Engelhard's separation systems. "It will help us meet the increased global demand for technologies to produce cleaner fuels, air and water."
Engelhard provides a range of innovative and cost-effective technologies that remove water and undesirable contaminants from natural gas, industrial gases, fuels, petrochemicals and other products. For example, Engelhard Sorbead® silica-gel adsorbents effectively remove moisture and hydrocarbons from air or natural gas. The newly acquired products provide an ideal complement to Sorbead adsorbents by removing hydrogen sulphide.
The acquisition enhances Engelhard's strong position in purification adsorbents for the hydrogen peroxide, petroleum refining and petrochemical markets. It also gives Engelhard an especially strong presence in the air-drying market and in the growing market for natural gas purification.
Almatis, which formerly owned Almatis AC, is the global leader in development, manufacture and supply of high-quality, specialty alumina products.
Engelhard Corporation is a surface and materials science company that develops technologies to help customers improve their products and processes. A Fortune 500 company, Engelhard is a world-leading provider of technologies for environmental, process, appearance and performance applications.
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