OM Group to Sell a Portion of dmc2 to Ferro Corporation

Apr 24, 2001, 01:00 ET from OM Group, Inc.

    CLEVELAND, April 24 /PRNewswire Interactive News Release/ -- OM Group,
 Inc. (NYSE:   OMG) announced today that it has reached an agreement to sell the
 electronic materials, performance pigments, glass systems and Cerdec ceramics
 divisions of dmc2 degussa Metals Catalysts Cerdec (dmc2) for EUR600 million in
 cash to Ferro Corporation. dmc2 is currently being acquired by OM Group for
 EUR1,200 million in cash.
     Following the sale, OM Group will own the metals management, automotive
 catalysts, fuel cells, precious metals chemistry, technical materials and
 jewelry and electroplating businesses of dmc2.   For the fiscal year ending
 December 31, 2000, metals management revenues for the businesses OM Group will
 keep were EUR5,289 million while operating revenues were  EUR487 million (for
 a total of EUR 5,776 million); operating profits were EUR55 million.
     Credit Suisse First Boston is acting as financial advisor to OM Group in
 conjunction with this transaction. Squire, Sanders & Dempsey is providing
 legal counsel.
     OM Group, through its operating subsidiaries, is a leading, vertically
 integrated international producer of value-added, metal-based specialty
 chemicals. The company supplies more than 1,500 customers in 50 countries with
 some 425 product offerings, primarily categorized as metal organics,
 inorganics, and powders. OM Group products serve 30 major industries,
 including aerospace, appliance, automotive, ceramics, coatings, electronics,
 hard metal tools, magnetic tapes, petrochemical, plastics, rechargeable
 batteries, rubber, stainless steel and other specialty chemicals. Typically,
 OM Group products represent a small part of the customer's overall
 manufacturing or processing costs, yet are essential ingredients to superior
 product performance.
     Headquartered in Cleveland, Ohio, OMG operates manufacturing facilities in
 North America, Europe, Asia and Africa. It has approximately 1,600 employees
 worldwide.
 
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SOURCE OM Group, Inc.
    CLEVELAND, April 24 /PRNewswire Interactive News Release/ -- OM Group,
 Inc. (NYSE:   OMG) announced today that it has reached an agreement to sell the
 electronic materials, performance pigments, glass systems and Cerdec ceramics
 divisions of dmc2 degussa Metals Catalysts Cerdec (dmc2) for EUR600 million in
 cash to Ferro Corporation. dmc2 is currently being acquired by OM Group for
 EUR1,200 million in cash.
     Following the sale, OM Group will own the metals management, automotive
 catalysts, fuel cells, precious metals chemistry, technical materials and
 jewelry and electroplating businesses of dmc2.   For the fiscal year ending
 December 31, 2000, metals management revenues for the businesses OM Group will
 keep were EUR5,289 million while operating revenues were  EUR487 million (for
 a total of EUR 5,776 million); operating profits were EUR55 million.
     Credit Suisse First Boston is acting as financial advisor to OM Group in
 conjunction with this transaction. Squire, Sanders & Dempsey is providing
 legal counsel.
     OM Group, through its operating subsidiaries, is a leading, vertically
 integrated international producer of value-added, metal-based specialty
 chemicals. The company supplies more than 1,500 customers in 50 countries with
 some 425 product offerings, primarily categorized as metal organics,
 inorganics, and powders. OM Group products serve 30 major industries,
 including aerospace, appliance, automotive, ceramics, coatings, electronics,
 hard metal tools, magnetic tapes, petrochemical, plastics, rechargeable
 batteries, rubber, stainless steel and other specialty chemicals. Typically,
 OM Group products represent a small part of the customer's overall
 manufacturing or processing costs, yet are essential ingredients to superior
 product performance.
     Headquartered in Cleveland, Ohio, OMG operates manufacturing facilities in
 North America, Europe, Asia and Africa. It has approximately 1,600 employees
 worldwide.
 
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                http://tbutton.prnewswire.com/prn/11690X73515662
 
 SOURCE  OM Group, Inc.