Announced
Completed
Financials
Sources
Tags
Specialty Chemicals
Acquisition
Domestic
Single Bidder
industrial chemicals
Disposal
Private
United States
Majority
Friendly
Completed
Private Equity
Synopsis
Hemlock, the largest producer of polysilicon in the United States, completed the acquisition of the trichlorosilane business and a stake in the Hemlock Semiconductor joint venture from DuPont, a chemicals company, for $725m. Based in Midland, Mich., the TCS business produces trichlorosilane, a key raw material for Hemlock Semiconductor Operation’s production of high-purity polysilicon and other industrial chemicals. "This transaction is consistent with our commitment to refine our portfolio and sharpenour focus on growth opportunities where DuPont’s unique innovation capabilities can create greater shareholder value. We have a defined strategy of active portfolio management to further align the company’s resources to deliver higher margins and returns, aligned with our disciplined approach to capital allocation," Ed Breen, DuPont Executive Chairman and CEO.
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