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PQ files for IPO
12:33 PM MST | February 14, 2014 | Vincent Valk
Private-equity backed PQ Corp. today filed for an initial public offering (IPO) that could be worth up $450 million, according to US regulatory documents. The company, a maker of silica products and catalysts, was taken private in 2007 in a $1.7-billion deal. The Carlyle Group (New York), a private equity firm, owns 50.6% of PQ, while Ineos owns 33.7% of the company. According to regulatory filings, PQ recorded $1.08 billion in sales during 2012, down 3.6% from 2011, with 2012 net income totaling $5.2 million, compared with a $65.4 million loss in 2011. For the...
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