ISP close to buying Ameripol Synpol business

WAYNE, N.J. (July 24)—Specialty chemicals and minerals producer International Specialty Products Inc. is poised to become the new owner of the core emulsion SBR assets of Ameripol Synpol Corp.Wayne-based ISP, through its ISP Synthetic Elastomers L.P. unit, bid $1 million plus the assumption of $3.6 million in tax obligations at a June 10 auction. The bid was accepted by Kevin J. Carey, judge of the U.S. Bankruptcy Court in Wilmington, Del., subject to objections filed during the comment period and the parties working out some asset cross-ownership issues with Huntsman Chemical Co. Those issues now have been worked out, according to Neil Murphy, senior vice president and chief financial officer for ISP. Carey was expected to issue his final ruling "at any moment," Murphy said July 24. ISP expects to invest up to $60 million in Ameripol Synpol to make it competitive, he said