Posted on 13/04/05
Superior Plus diversifies with U.S. acquisition
Superior Plus Income Fund has done a $29.5-million (U.S.) deal to buy a potassium hydroxide plant from U.S.-based Basic Chemicals LLC to diversify its chemical business away from the pulp industry. The transaction, which is expected to contribute to share profit immediately, is subject to U.S. regulatory approval that is expected by the end of the second quarter. Basic Chemicals is an affiliate of Dallas-based Occidental Chemical Corp.
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