Hercules Exits Resins and Fibers; Forms JV to Acquire Kelco.(Brief Article)

Chemical Week | March 1, 2000| | Copyright

Hercules will sell its resins and FiberVisions polyolefins fibers businesses and form a food gums joint venture with Lehman Brothers that will acquire Monsanto's Kelco biogums unit and Hercules' food gums business. Hercules says it will focus its attention on its $1.7-billion paper chemicals and BetzDearborn water treatment chemicals businesses, and its $631-million Aqualon thickeners operation.

The company says it has a buyer for its $450-million/year resins business but would not identify it. Proceeds from the divestments, along with a payment to Hercules from the ...

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