People & Business :: M&A
Solvay to acquire US firm Chemlogics for $1.35 billion
7:51 AM MDT | October 7, 2013 | Deepti Ramesh
Solvay says it has signed an agreement to acquire privately held Chemlogics (Paso Robles, CA), for a total cash consideration of $1.35 billion. Chemlogics, which was founded in 2002, serves the needs of the oil and gas industry’s stimulation and cementing segments. Chemlogics, which employs 277 people, reports sales of about $500 million for the last 12 months, Solvay says. The company’s assets are all located in the United States and include three manufacturing sites with capacity exceeding 300,000 m.t./year, eight formulation centers, and six...
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