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KMG Chemicals signs definitive agreement to sell UPC to KMG for $60M

OM Group announced it has signed definitive agreements to sell its Ultra Pure Chemicals, or UPC, subsidiaries located in the United States, England and Singapore, and has simultaneously offered to sell its Ultra Pure Chemicals subsidiary located in France, to KMG Chemicals for a combined price of $60M in cash. The sale is expected to close before the end of June 2013, subject to customary closing conditions and regulatory approvals. The UPC subsidiaries, which are included in the Company's Specialty Chemicals segment and had net sales in 2012 of $94M, produce and supply unique ultra pure chemical solutions to the semiconductor and microelectronics industries in Europe, Asia and the U.S.