PQ Group Holdings Inc of Malvern, PA has completed the sale of its Performance Chemicals business to a partnership established by Cerberus Capital Management LP of New York, NY for a purchase price of US$1.1 billion.
PQ plans to use the net cash proceeds to reduce its debt and return cash to its shareholders, subject to board approval. The company has also announced a name change to Ecovyst Inc.
Volume 35, Issue 05