CUYAHOGA FALLS, Ohio—Emerald Performance Materials L.L.C. plans to sell its Specialties and Polymer Additives/Nitriles business groups to DyStar L.P., the U.S.-based subsidiary of DyStar Global Holdings Pte. Ltd., headquartered in Singapore.
In a separate transaction, DyStar said it intends to sell the Polymer Additives and Nitriles businesses to Jiangsu Sinorgchem Technology Co. Ltd., a subsidiary of Sinochem Group, a state-owned Chinese firm with core businesses in the energy, agriculture, chemicals, real estate and financial services sectors.
DyStar's purchase of the three business groups from Emerald includes five of the company's nine plants, specifically its facilities in Charlotte, N.C.; Cincinnati, Ohio; Cheyenne, Wyo.; Henry, Ill.; and a portion of a shared site in Akron.
Terms to the transactions were not disclosed.
Emerald said the sale, of the businesses, which is subject to regulatory approvals, is expected to close in the third quarter.