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OM Group to Buy Borchers

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-09-04

CLEVELAND (AP) -- Specialty chemicals company OM Group Inc. said Tuesday it has agreed to buy Borchers GmbH, a European-based specialty coatings additive supplier.

Financial terms of the deal were not disclosed.

Borchers will become part of OM Group's advanced organics business, the company said. The company said the deal will allow it to expand into water-based coatings.

The deal is expected to close early in the fourth quarter, OM Group said. The company said it expects the acquisition to add to its earnings immediately.

Borchers is currently owned by chemical manufacturer Lanxess Group.

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