Jan 3 2008
GenTek Inc. announced that its wholly-owned subsidiary, General Chemical LLC, has acquired Bay Chemical and Supply Company, a producer of water treatment chemicals in Odem, Texas.
The purchase price of the transaction is $7 million before any working capital adjustments.
Commenting on the transaction, Vincent J. Opalewski, Vice President and General Manager of General Chemical LLC noted, “This transaction expands our customer base in the Texas market, adds new products to our portfolio of water treatment chemicals and allows us to drive incremental savings through our raw material sourcing arrangements.” William E. Redmond, Jr., GenTek’s President and Chief Executive Officer added, “This acquisition fits well with our stated objective to invest in the company’s core assets, chemical and auto/truck valve train systems, to accelerate GenTek shareholder value creation.”