OM Group to draw on existing facility for purchase of EaglePicher

By Sara Rosenberg

New York, Dec. 23 - OM Group Inc. plans to use borrowings under its existing credit facility, along with cash on hand, to fund the $171.9 million acquisition of EaglePicher Technologies LLC, according to a news release.

The transaction, which is subject to customary closing conditions, is expected to close by the middle of the first quarter of 2010.

OM Group is a Cleveland-based developer, producer and marketer of value-added specialty chemicals and advanced materials that are essential to complex chemical and industrial processes.

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