Solvay Pays $1.3B For US Maker Of Oil-Industry Chemicals

Law360, New York (October 7, 2013, 4:22 PM EDT) -- Belgian chemical company Solvay SA said Monday that it will buy private Californian company Chemlogics Group LLC, a producer of friction reducers and other chemicals for the oil and gas industry, for $1.35 billion in cash.

Chemlogics will be a lucrative addition to Solvay's Novecare brand, which produces cosmetics, home cleaning products and industrial chemicals. Through the deal, Solvay hopes to tap into a bigger share of the growing U.S. petrochemical market.

“This acquisition accelerates Solvay’s ongoing transformation towards an innovative chemical solution provider focused on...
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