OM Group Announces Agreement to Sell Its Ultra Pure Chemicals Business

    OM Group Announces Agreement to Sell Its Ultra Pure Chemicals Business

PR Newswire

CLEVELAND, April 29, 2013

CLEVELAND, April 29, 2013 /PRNewswire/ --OM Group, Inc. (NYSE: OMG) announced
today it has signed definitive agreements to sell its Ultra Pure Chemicals
(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, Inc. (NYSE: KMG) for a combined price of $60
million 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 $94 million, produce and supply unique
ultra pure chemical solutions to the semiconductor and microelectronics
industries in Europe, Asia and the United States.

"The divestiture of UPC represents another step to optimize our portfolio and
sharpen our strategic focus," said Joe Scaminace, Chairman and CEO of OM
Group. "The funds we receive from this transaction will further strengthen
our balance sheet, supporting our organic growth plans and synergistic
acquisition program.

"We thank our UPC associates for their contributions to OM Group's success and
wish them well as part of a new, larger ultra pure chemical business."

ABOUT OM GROUP

OM Group is a technology-based industrial growth company serving attractive
global markets, including automotive systems, electronic devices, aerospace,
industrial and renewable energy. Its business platforms use innovative
technologies and expertise to address customers' complex applications and
demanding requirements. For more information, visit the Company's website at
www.omgi.com.

FORWARD-LOOKING STATEMENTS

The foregoing discussion may include forward-looking statements for purposes
of the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements are based upon specific assumptions
and are subject to uncertainties and factors relating to the company's
operations and business environment, all of which are difficult to predict and
many of which are beyond the control of the company. These uncertainties and
factors could cause actual results of the company to differ materially from
those expressed or implied in the forward-looking statements contained in the
foregoing discussion. Such uncertainties and factors include: completing the
sale of the UPC subsidiaries; uncertainty in worldwide economic conditions;
extended business interruption at our facilities; fluctuations in the price
and uncertainties in the supply of rare earth materials and other raw
materials; our ability to identify, complete and integrate acquisitions
aligned with our strategy;changes in effective tax rates or adverse outcomes
resulting from examination of our income tax returns; the majority of our
operations are outside the United States, which subjects us to risks that may
adversely affect our operating results; level of returns on pension plan
assets and changes in the actuarial assumptions; the majority of our cash is
generated and held outside the United States; the timing and amount of common
share repurchases, if any; fluctuations in foreign exchange rates;
unanticipated costs or liabilities for compliance with environmental
regulation; changes in environmental, health and safety regulatory
requirements; technological changes in our industry or in our customers'
products; our ability to adequately protect or enforce our intellectual
property rights; disruption of our relationship with key customers or any
material adverse change in their businesses; successful execution of the GTL
supply agreement signed in connection with the Advanced Materials divestiture;
and the Risk Factors set forth in Part I, Item 1A of our Annual Report on Form
10-K for the year ended December 31, 2012.

SOURCE OM Group, Inc.

Website: http://www.omgi.com
Contact: OM Group Contact: Rob Pierce, Vice President, Finance,
+1.216.263.7489
 
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