Degussa Sells U.S. American Metallurgy Unit
Degussa AG in Dusseldorf is selling its subsidiary, ESM Group Inc. (Amherst, N.Y.), which offers products and services for hot metal desulfurization, to Platinum Equity, a financial investment company located in Los Angeles, Calif., for US$55 million. The sale of ESM, which should be closed before yearend, concludes the sale of Degussa's entire metallurgical chemicals business. In 2004, as part of its concentration on specialty chemicals, the company sold the foundry, steel and continuous casting powder businesses.
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