PQ specialty-chemicals merger completed

PQ Corp., Valley Forge, announced Wednesday that it had completed its merger with Ineos Silicas.

The merger was originally announced Oct. 11, 2007. Terms have not been disclosed.

The combined company has operations in 21 countries and employs more than 2,700 people.

The combination of the two companies, which was announced in October, forms a global producer of specialty inorganic chemicals, catalysts and engineered glass products with annual sales revenues of more than $1 billion, PQ said in a release.

The merged company will continue to be known as PQ Corp. and will be headed by Mike Boyce, chairman and chief executive officer.

Private-equity group Carlyle Group acquired PQ last July.

Ineos Silicas was previously a unit of Ineos, a global manufacturer of petrochemicals, specialty chemicals and oil products. Carlyle will own an approximately 60 percent share of the new combined company, while Ineos will hold the remaining approximately 40 percent.