Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

KIK Custom Acquires Chemtura's BioLab/Bayrol Consumer Products Business

KIK Custom Products Inc. said Thursday it completed its acquisition of the consumer products business of Chemtura Corp. (CHMT: Quote) for an adjusted purchase price of $300 million.

The company said the deal had a $15 million reduction to reflect the resolution of certain pre-closing matters by the parties. The company also said the purchase price is subject to a post-closing adjustment for working capital and assumed pension liabilities.

"This acquisition marks a major step in the strategic growth of our company," said Jeff Nodland, KIK's CEO.

Toronto, Canada-based KIK is one of North America's largest contract and private label manufacturers of consumer, institutional and industrial products. KIK entered the pool care business in 2011 with the acquisition of US-based Chem-Lab Products Inc.

Click here to receive FREE breaking news email alerts for Chemtura Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A ban on athletes using stamina-boosting gases - xenon and argon - came into effect on Monday. The World Anti-Doping Agency (WADA) said Hypoxia-Inducible Factor (HIF) activators Xenon and Argon have been added to the 2014 List of Prohibited Substances and Methods List following the required three-month notice period and UNESCO's communication to all States Parties. A recommendation to revise the British manufacturing growth eased further in August to its lowest level in 14 months as output and demand increased at slower rates, survey results from Markit Economics showed Monday. The Markit/CIPS Purchasing Managers' Index dropped to 52.5 from a revised 54.8 in July. Economists had expected the score to fall to 55.1 from July's original figure of 55.4. Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.