Great Lakes acquires optical monomers business

Great Lakes Chemical Corporation and Akzo Nobel Polymer Chemicals today announced that Great Lakes has acquired Akzo Nobel's ADC optical monomers business, which generated sales in 2000 of approximately $25 million. Terms of the arrangement are not available.

Mark Bulriss, Great Lakes' Chairman, President, and CEO, stated, "This move broadens our optical monomers business which has consisted of a full range of Great Lakes' RAV 7 monomers. We now have the critical size necessary to drive the business and the technology platform to advance new product breakthroughs in the optical industry. Also, the acquisition is accretive in 2001."

Used mainly to produce hard resin cast lenses, ADC optical monomers impart a number of critical benefits that include: improving optical quality through high light transmission level; reducing the weight of the lenses; and delivering the highest abrasion resistance of all optical plastics. ADC lenses represent approximately 70% of the plastic lens sales on a worldwide basis.

Bulriss concluded, "Expanding the optical monomers business represents another component of our plan to drive performance in polymer stabilizers. We have added to our product portfolio, already considered to be among the industry's most comprehensive, a family of products that enhance our position as a global supplier of value added solutions."

Great Lakes Chemical Corporation is the world's leading producer of various specialty chemicals for such applications as flame retardants, polymer stabilizers, fire extinguishants, water treatment, as well as a growing line of performance and fine chemicals for the life sciences industry. The stock of the company is traded on the New York Stock Exchange. For more information please visit Great Lakes' web site at www.greatlakes.com .

Source: Great Lakes Chemical Corporation

Subscribe to our free e-mail newsletter.

Click for a free Buyer's Guide listing.