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Tokai Carbon to acquire Sid Richardson

On June 26, Tokai Carbon’s board of directors signed a contract to acquire Sid Richardson. The acquisition is expected to close in early September 2018, subject to approval by regulatory authorities. The acquisition price was Yen 34.1 billion (US$310M).

Sid Richardson (Fort Worth, TX) has 350 employees and had sales of $311.9 million for the year ended December 2017. Sid operates 3 furnace black factories in the US with 440 KTPY of capacity, as well as a research lab in Fort Worth and a sales office in Akron, Ohio.

Tokai Carbon (Tokyo, Japan) expects to have sales of Yen 204 billion (US$1.8 billion) in FY2018 (before acquisition), of which carbon black accounted for 29%. Tokai Carbon currently operates 452 KTPY of furnace black capacity in Japan (202 KT), China (70 KT), and Thailand (180 KT), as well as 45 KTPY of thermal black capacity in Canada through Cancarb Limited, a wholly owned subsidiary acquired in 2014.

This acquisition will give Tokai a major presence in the North American market, as Sid is the largest carbon black producer in the United States.

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