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Acquisitions

Mon, 11/06/2006 - 6:18am

Westlake

Westlake Chemical Corp. has entered into a definitive agreement to purchase from Eastman Chemical Co. its polyethylene business. The sale will include Eastman's polyethylene and Epolene polymer businesses, related assets, and its ethylene pipeline. The sale is for a purchase price of $255 million in cash at closing. The transaction is expected to close in the fourth quarter. The business and assets to be acquired generated approximately $680 million in revenue during 2005.

Valspar

The Valspar Corp., a global coatings company, has agreed to acquire the powder coatings business of H.B. Fuller Co., which had net sales of approximately $75 million in 2005. The cash purchase transaction is expected to close in December.

Aggreko

Aggreko plc has entered into a definitive agreement with General Electric Co. to acquire GE Energy Rentals for $212 million. Aggreko will purchase GE Energy Rentals' temporary power, temperature control, and oil-free compressed air solutions business.

K-Tron

K-Tron International Inc. has acquired all the stock of privately held Premier Pneumatics Inc., a leading manufacturer of pneumatic conveying and bulk handling equipment for the North American market. The purchase price was $27.565 million, all of which was paid in cash, including a $2 million escrow. .
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