Archive: July, 2012
Mount Laurel-based PMC Group agreed to acquire the tin stabilizer business of Arkema, a French chemical company.
In a statement, Arkema said that the business, which makes products used in the manufacture of PVC and by automobile companies, generates about $220 million in sales. The business employs 234 people at four locations, including Carrollton, Ky., and Mobile, Ala.
Terms of the sale, which is expected to occur this fall, were not disclosed.
Ownership of another Philadelphia-area refinery is about to change.
NuStar Energy L.P. said it would sell 50 percent of its asphalt operations, which include refineries in Paulsboro, N.J., and Savannah, Ga., to a joint venture in a transaction expected to be completed by Sept. 30.
Lindsay Goldberg L.L.C., a New York private-equity firm with $10 billion under management, will pay $175 million for a 50 percent interest in the joint venture, with San Antonio-based NuStar holding the other 50 percent stake. The two refineries have a combined refining capacity of 104,000 barrels per day.