Ceramic Industry News

OMG Acquisition of dmc2 Proceeding Toward Regulatory Approval

July 11, 2001
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OM Group, Inc. (OMG) recently announced that additional filings with the Federal Trade Commission (FTC) were made on June 27, 2001, in connection with its acquisition of all of the operations of dmc2 degussa Metals Catalysts Cerdec (dmc2), a unit of Degussa AG. The most recent filings will permit the FTC to consider the OMG acquisition of the metals management, automotive catalysts, fuel cells, precious metals chemistry, technical materials and jewelry and electroplating businesses of dmc2 at the same time it considers OMG's proposed divestiture of the electronic materials, performance pigments, glass systems and Cerdec ceramics division of dmc2 to Ferro Corp.

"As previously announced, the acquisition of dmc2 will significantly expand our product offerings into fast growing and high value-added market segments while combining two organizations with strong research focus and an emphasis on developing our people," said James P. Mooney, CEO of OMG. "With the most recent filings, we anticipate that our purchase of dmc2 and the follow on sales by OMG to Ferro can both occur within the next sixty to ninety days."

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