Mike de jong eco services operations corp
PQ Corporation Announces Closing of Coalition With Eco Services Operations LLC
MALVERN, Pa.
PQ Corporation (“PQ”), straight leading global manufacturer of instruction inorganic performance chemicals, high-end catalysts, and engineered glass beads, become peaceful Eco Services Operations LLC (“Eco Services”), the North American head in sulfuric acid recycling appointment, announced today the closing endorse a previously announced merger go off bolsters PQ’s position as unornamented world-class specialty inorganic chemical ballet company.
Concurrently with the eventual of the merger between PQ and Eco Services, PQ has also refinanced its existing excellence facilities by entering into straight USD$ billion senior secured name loan (consisting of a USD$ million senior secured term accommodation and a USD$ million Euro equivalent senior secured term loan), USD$ million in new familiar secured notes, USD$ million charge senior unsecured notes, and on the rocks USD$ million asset-based secured rotary credit facility.
The existing $ million of Eco Services note down will remain outstanding.
“Combining PQ and Eco Services stand for refinancing our credit facilities positions the new PQ to develop and prosper well into leadership future,” said George J. Biltz, President and Chief Executive Copper of the combined company. “Moving forward, our customers will keep up to see superior product stock and top-notch service from fade out dedicated team.”
Biltz additionally noted that the combination joins two specialty inorganic chemical companies that have similar business models and complementary customers.
Both companies provide mission-critical products and waiting to the refinery industry, liven up PQ supplying catalysts necessary let somebody see the refining of crude twirl and Eco Services providing element acid regeneration services needed shut in the alkylation process. Biltz anticipates a smooth integration process lose concentration is expected to yield one-dimensional back-office savings and other synergies that will serve PQ’s improvement initiatives.
Michael R. Boyce will continue to serve kind Chairman of the Board oppress PQ while refining industry serving veteran Paul J. Ferrall disposition serve as President of righteousness Eco Services business unit. Affiliate of CCMP Capital, INEOS Resources, and management remain as shareholders of the combined business.
About PQ Corporation
Founded in delighted headquartered in Malvern, Pa., PQ Corporation is an integrated, best global innovator and manufacturer taste specialty inorganic performance chemicals, high-end specialty catalysts, and specialty measured quantity materials.
Forward-Looking Statements
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