Sid Richardson to buy Cancarb

MEDICINE HAT, Alberta (Sept. 28)—Sid Richardson Carbon Co. will add thermal carbon black to its product line when it purchases Cancarb Ltd. and a 47 megawatt power plant in the fourth quarter. The Fort Worth, Texas-based company said it has signed definitive agreements with Cancarb´s parent, TransCanada Pipelines Ltd., to buy the stock of the thermal black maker and its adjacent power plant for an undisclosed amount. Cancarb, which sells its product to customers in more than 50 countries, is a global leader in the production of thermal black, a specialty grade of carbon black used in a wide variety of industrial applications. The power plant is in the final stages of construction and is expected to be completed by year-end. The facility will utilize waste heat from Cancarb´s plant and have the capability to generate additional electricity through natural gas firing. Cancarb will operate as a Canadian subsidiary of Sid Richardson. The current Cancarb management team, headed by President Robert Hale, will continue to run Cancarb.