AMAK shareholders to acquire 33.3% equity interests in AMAK from Trecora for $70m.

Shareholders of Saudi Arabian closed joint stock company, Al Masane Al Kobra Mining, agreed to acquire Trecora's, a provider of specialty hydrocarbons and waxes, entire equity interest in AMAK. AMAK participates in this transaction through its share repurchase authorization program. Trecora will sell its 33.3% equity interests in AMAK for $70m. "We are pleased to achieve this important strategic milestone and fulfill our longstanding commitment to deliver significant shareholder value, through the sale of our AMAK ownership. AMAK has been a meaningful but non-core asset for many years. Over the past two years, AMAK has accomplished significant operational restructuring and upgrades thus greatly enhancing its value, and allowing for a transaction that we believe achieves a good outcome for all shareholders," Pat Quarles, Trecora's President and Chief Executive Officer.