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[February 2002]
OM Group Announces Completion of Secondary Equity Offering
OM Group Inc (Cleveland, OH, USA) has announced that it has recently completed its secondary offering of 3.5 million shares of common stock, plus 525,000 shares purchased to cover over allotments. The company raised US$237.5 million of capital, which will be used to repay outstanding indebtedness under its credit facilities.OM Group, through its operating subsidiaries, is a leading, vertically integrated international producer and marketer of value-added, metal-based speciality chemicals and related materials. The company supplies more than 1,700 customers in 50 countries with some 625 product offerings through three segments: base metal chemistry; precious metal chemistry; and metal management.
OM Group products serve over 30 major industries, including aerospace, appliance, automotive, ceramics, coatings, electronics, hard metal tools, magnetic tapes, petrochemical, plastics, rechargeable batteries, rubber, stainless and other speciality chemicals.
It operates manufacturing facilities in the Americas, Europe, Asia-Pacific and Africa with approximately 4,700 employees world-wide.
ENDS