Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Crompton Sells OSi Specialties to GE - Coatings World

What are you searching for?

Sign in
Suppliers News

Crompton Sells OSi Specialties to GE

Author Image

By: KERRY PIANOFORTE

Editor, Coatings World, Coatings World

Crompton has entered into a definitive agreement to sell its OSi Specialties organosilicones business to the GE Specialty Materials division of General Electric Co. and acquire GE’s Specialty Chemicals business.
OSi Specialties, headquartered in Greenwich, CT, pioneered silane and specialty silicone technology, and as a leading global supplier of organofunctional silanes, provides GE with products it does not currently offer.
“We are thrilled about the complementary products, technology and application expertise we can offer,” said Wayne Hewett, GE Silicones vice president and general manager. “OSi Specialties greatly enhances GE Silicones capabilities and we look forward to serving our bigger, broader combined customer base.”
Crompton’s organosilicones business had sales of $457 million in 2002. The transaction is expected to close in the third quarter of 2003. When completed, Crompton will receive $645 million in cash and the GE Specialty Chemicals business, which has an agreed-upon value of $160 million. In addition, Crompton will receive quarterly “earn-out” payments for three years after closing based on the combined performance of GE’s existing silicones business and the organosilicones business it is acquiring from Crompton.

Add us as a preferred source on Google

Get the latest Coatings World news, insights and analysis in your Google Search and AI experiences.

Add Coatings World as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Coatings World Newsletters