OMG Completes Acquisition of dmc2
August 5, 2001
OM Group, Inc. (OMG) said recently that its previously announced acquisition of dmc2, a subsidiary of Degussa AG, has been completed. OMG is now a leading worldwide provider of precious metal-based functional materials for a wide variety of high-growth end markets. The businesses that OMG will retain include metals management, automotive catalysts, fuel cells, precious metals chemistry, technical materials, and jewelry and electroplating. Also as previously announced, OMG will divest the electronics materials, performance pigments and colors, glass systems and Cerdec ceramics divisions to Ferro Corp. in the near future. This acquisition enhances OMG's current technologies of refining and processing value added specialty metal products by adding precious metals, including platinum, palladium, rhodium, gold and silver to its strong base metal business, primarily cobalt, copper and nickel. OMG will be in a unique position to serve base metal and precious metal users in high growth and high tech applications with value added products for many industries including automotive catalysts, plating, electronics, rechargeable batteries, fuel cells, coatings, chemical, super alloy, stainless steel, hard metals and ceramics.