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Chemical Week Magazine :: Top of the Week
Private Equity Firm Buys Olin’s Metals Unit for $400 Million
9:38 AM MDT | October 22, 2007 | Rebecca Coons and Robert Westervelt
Olin says it has signed a definitive agreement to sell its worldwide metals business to a subsidiary of Global Brass and Copper Holdings, an affiliate of private equity fund manager KPS Capital Partners (New York), for $400 million in cash. The sale includes Olin manufacturing facilities in East Alton, IL; Montpelier and Bryan, OH; Waterbury, CT; and Cuba, MO, as well as its A.J. Oster metals service centers. The sale is subject to antitrust review but is not dependent on shareholder approval, Olin says. The deal is expected to close in the fourth quarter. The...
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