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Services :: Financial
Solvay closes ChemLogics acquisition
2:00 PM MDT | October 31, 2013 | Vincent Valk
Solvay says it has closed the $1.35-billion acquisition, first announced earlier this month, of oilfield chemicals and services firm ChemLogics (Paso Robles, CA). Chemlogics has 277 employees recorded about $500 million in sales over the past year, Solvay says. The deal expands Solvay Novecare’s portfolio in the oilfield chemicals and services market, the company says. ChemLogics owns three manufacturing plants, eight formulation facilities, and six R&D facilities. The company’s total manufacturing capacity is 300,000 m.t./year...
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