Columbian Chemicals Co., announced that One Equity Partners, an investment banking group owned by JPMorgan Chase & Co. , and a minority shareholder of Columbian since 2006, has reached agreement with DC Chemical Co., Ltd., of Seoul, Korea, to purchase DCC’s 66.75% stake in Columbian.
One Equity Partners will become Columbian’s sole owner, subject to customary closing conditions, including regulatory approval.
The transaction is scheduled to close in the first quarter of 2009.
Columbian Chemicals Co. is one of the world’s leading producers of carbon black – an engineered material that improves the strength, durability, and overall performance of a range of products including tires and other mechanical rubber goods, as well as inks, paints, plastics, and coatings. Based in Marietta, Georgia, Columbian Chemicals Co., and its affiliates own and operate 12 carbon black manufacturing facilities in Brazil, Canada, China, England, Germany, Hungary, Italy, Korea, Spain, and the United States, employing about 1300 people worldwide.
Contact: Timothy L. Fedrigon
VP Human Resources
770-792-9400