Kerr-McGee to sell electrolytic chemical business

Kerr-McGee Chemical LLC has signed a letter of intent with Finnish Chemicals Oy to sell substantially all of its electrolytic and speciality chemical businesses.
The company said the letter of intent covers the marketing, research and development, plant operations, other services and personnel associated with its electrolytic chemical facilities. "The sale is contingent on a definitive agreement," it said.
"This transaction and the pending sale of our ammonium perchlorate business to American Pacific Corp will allow us to more fully concentrate on our growing worldwide titanium dioxide pigment business," it said.
In a recent transaction, Kerr-McGee agreed to acquire the European titanium dioxide operations of Bayer AG