FOR IMMEDIATE RELEASE
December 15, 2014
WILMINGTON, Del. – Solenis LLC today announced that it has signed an agreement to acquire Clearwater Specialties LLC, a privately-held specialty chemical company dedicated to the tissue and towel market. The deal includes all assets, intellectual property and business associated with Clearwater Specialties LLC and Clearwater Chemicals LLC. The transaction is expected to close in the first quarter of 2015, following receipt of customary regulatory approvals.
"The Clearwater Specialties products fit hand in glove with our current tissue and towel product portfolio,” said John Panichella, president and CEO, Solenis. “Leveraging our large channel to market and through our service-intensive business model, we will be able to offer their technologies to our global customer base.” “This is an excellent example of Solenis’ commitment to continuous investment in the pulp and paper industry,” stated Charles Robinson, senior vice president, Solenis.
“We are delighted to work together with the leading supplier of specialty chemicals to the tissue and towel industry to ensure a smooth transition for our customers,” stated Stephen H. Tucker, Managing Member of Clearwater Specialties LLC.
Solenis is a leading global producer of specialty chemicals for the pulp, paper, oil and gas, chemical processing, mining, biorefining, power and municipal markets. The company’s product portfolio includes a broad array of process, functional and water treatment chemistries as well as state-of-the-art monitoring and control systems. These technologies are used by customers to improve operational efficiencies, enhance product quality, protect plant assets and minimize environmental impact. Headquartered in Wilmington, Delaware, the company has 30 manufacturing facilities strategically located around the globe and employs a team of approximately 3,500 professionals in 118 countries across five continents. For additional information about Solenis, please visit www.solenis.com.
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