Ceramic Industry News

Oglebay Norton to be Acquired by Carmeuse (posted 10/30/07)

October 30, 2007
/ Print / Reprints /
ShareMore
/ Text Size+
Carmeuse North America and Oglebay Norton Co. have entered into a definitive agreement under which Carmeuse will acquire all of the outstanding shares of Oglebay Norton for $36.00 per share in cash.

Carmeuse North America, a wholly owned subsidiary of Carmeuse Group, and Oglebay Norton Co. recently announced that they have entered into a definitive agreement under which Carmeuse will acquire all of the outstanding shares of Oglebay Norton for $36.00 per share in cash. The transaction, which is expected to close by the end of the year, is subject to the expiration or termination of the Hart-Scott-Rodino Act waiting period and approval by Oglebay Norton shareholders (among other things).

“Oglebay Norton is a strong company with world-class assets and outstanding employees who we are proud to welcome to the Carmeuse family,” said Thomas Buck, president and chief executive officer of Carmeuse North America. “By combining the resources of our well-established companies, we will be better equipped to serve the needs of today’s increasingly competitive and dynamic marketplace. This acquisition provides a high level of market diversity for Carmeuse. In particular, Oglebay Norton’s considerable limestone business provides us with added resources to serve the rapidly growing flue gas desulfurization (FGD) market, in which Carmeuse has a high level of technical expertise. We look forward to a quick completion of this transaction and to the seamless integration of our operations.”

According to Michael Lundin, president and chief executive officer of Oglebay Norton, “We are proud of the significant progress we have made at restructuring Oglebay Norton, enhancing the company’s financial flexibility and capitalizing on our strong competitive position in minerals and aggregates. Carmeuse, a global leader in lime with a proven track record of success in acquiring and building companies, is the right partner for Oglebay Norton at the right time.”

For more information, visit www.oglebaynorton.com or www.carmeusena.com.

Links

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

In-Depth Features

These articles detail innovative advanced ceramic and glass materials and technologies.

Podcasts

Sapphire: An Extreme Performer

Ian Doggett of Goodfellow and CI Editor Susan Sutton discuss the benefits and opportunities provided by industrial sapphire.

More Podcasts

THE MAGAZINE

Ceramic Industry Magazine

CI April 2014 cover

2014 April

Our April issue features details on advanced materials such as ceramic matrix composites and piezoelectric ceramics, among many others. Be sure to check it out!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40