ENGELHARD CORP. BUYS OUT PARTNER IN GERMAN JOINT VENTURE

ENGELHARD CORP. BUYS OUT PARTNER IN GERMAN JOINT VENTURE

Engelhard Corp. has purchased the other half of its German joint venture, Engelhard Kali-Chemie GmbH, and will build a $25 million manufacturing plant in Nienburg, Germany, to meet the growing demand for automotive emission catalysts in the European Community.

Engelhard paid an undisclosed amount of cash for the 50 percent held by Kali-Chemie AG, a subsidiary of Solvay Deutschland GmbH."The European market for auto catalysts is very strong as individual countries continue to phase in strict emission control standards to meet the European Community regulations," said James J. Healy, an Engelhard vice president.

The catalysts are a core business for Engelhard, while they do not fit Solvay's long-term strategy, company officials said.

The plant will replace the Engelhard Kali-Chemie catalyst manufacturing facility.