Draslovka, a Czech Republic-based, global, family-owned company, completed the acquisition of the Mining Solutions business of Chemours Company for $521 million.
This completion makes Draslovka the world’s largest producer of solid sodium cyanide and a global leader in the manufacture, development, and distribution of hydrogen cyanide-based specialty chemical products.
Hydrogen cyanide is used in extracting gold. Draslovka now has operations on three continents – Europe, the Americas, and Australasia.
Draslovka plans to continue its expansion with demand for next-generation CN-based specialty chemical products – such as an ozone-friendly alternative to methyl bromide – continuing to increase.
“The sale of Mining Solutions supports our focus on the sustainable growth of our three principal businesses while bolstering our balance sheet and our ability to deliver long-term shareholder value creation,” said Mark Newman, Chemours CEO. “This transaction accelerates transformational strategies already underway to grow and enhance the quality of our earnings while affording increased financial flexibility. We will remain disciplined with capital allocation and are committed to a continuation of our balanced approach to building value.”
Chemours is based in Wilmington and has a research center at the University of Delaware STAR Campus in Newark.