MARIETTA, Ga. (Jan. 6, 2009)—A JPMorgan Chase & Co. investment banking group has agreed to purchase sole ownership of carbon black producer Columbian Chemicals Co.
One Equity Partners, a minority shareholder of Columbian since 2006, reached agreement with DC Chemical Co. Ltd., of Seoul, South Korea, to buy its 66.8-percent interest in Columbian for an undisclosed sum.
The deal is subject to customary closing conditions, and it should close during the first quarter, Columbian said. One Equity Partners will be the sole owner of Columbian, one of the world's largest carbon black makers, when the deal is completed.
Based in Marietta, Columbian and its affiliates operate 12 plants in the U.S., Brazil, Canada, China, England, Germany, Hungary, Italy, South Korea, Spain, and the United States. The firm employs about 1,300.