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KMG Announces Acquisition of Sealweld

FORT WORTH, Texas--(BUSINESS WIRE)--KMG (NYSE: KMG), a global provider of specialty chemicals, today announced it has agreed to acquire on February 1 privately-owned Sealweld, an innovative leader in the industrial lubricants market, for US$17.4 million (C$22.6 million) in cash, including estimated net working capital of approximately US$4.5 million (C$5.8 million). KMG drew on its revolving credit facility to finance the acquisition.