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KMG completes ultrapure chemicals acquisition

6:28 AM MDT | June 7, 2013

KMG Chemicals has completed the acquisition of OM Group’s ultrapure chemicals division, a maker of materials for semiconductor and microelectronics manufacturing, for $63.3 million. The purchase price includes $17.3 million for working capital and was paid for with available cash and borrowings from KMG’s credit facility. OM Group says it will use the proceeds from the deal to pay down debt. The ultrapure chemicals business, which was part of OM Group’s specialty chemicals segment, owns four plants in Europe, two in Asia, and one in North America. It...

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