Malvern-based Ecovyst, a provider of advanced materials, specialty catalysts, virgin sulfuric acid and sulfuric acid regeneration services, recently announced it has reached an agreement to acquire Cornerstone Chemical Co.’s sulfuric acid production assets in Waggaman, La, for below replacement value.
The purchase will provide enhanced flexibility for the company’s existing Gulf Coast plant network and will expand the company’s capacity to serve regeneration and virgin sulfuric acid customers. The Waggaman site is near the company’s existing Baton Rouge facility.
“The acquisition of Cornerstone’s sulfuric acid assets represents a unique opportunity for Ecoservices to strengthen its network of facilities and expand its ability to support the future growth needs of our customers, on a cost-efficient basis,” George L. Vann, Ecoservices president, said. “We look forward to serving the Waggaman plant’s existing customers and strategically incorporate the acquired assets to support the future growth needs of Ecoservices’ customers.”
The deal is expected to close during the second quarter, subject to customary closing conditions.
Ecovyst employs more than 900 employees at 12 facilities worldwide. Its business structure includes two core business units: Ecoservices, a leading North American provider of virgin sulfuric acid and sulfuric acid regeneration services, and Advanced Materials and Catalysts.