McWhorter Technologies, Inc. (formerly McWhorter, Inc.) has applied for Federal Trade Commission approval to acquire a coating resins facility owned by ICI Americans Holding Company and located in Columbus, Georgia. The application will be subject to public comment for 30 days, until July 27.
McWhorter, Inc. was a wholly-owned subsidiary of Valspar Corporation until last year, when it was spun off to become McWhorter Technologies. The spin-off was part of a 1993 settle- ment order with the FTC over allegations that Valspar's acqui- sition of the Resin Products Division of Cargill, Inc. would violate federal antitrust laws by, among other things, eliminat- ing competition between two leading U.S. producers of coating resins. McWhorter Technologies is a specialty chemical company based in Carpentersville, Illinois. ICI Americans' Glidden Company, which operates the Columbus plant, is based in Cleveland, Ohio.
McWhorter Technologies submitted the application pursuant to the 1993 order which, in addition to the spin-off requirement, mandates that McWhorter Technologies obtain FTC approval, for 10 years, before acquiring any stock or other interest in an entity that manufactures coating resins in the United States.
In its application, McWhorter Technologies maintains that the acquisition will result in no significant increase in con- centration in the relevant market and that, moreover, it will have procompetitive effects.
Comments on the application should be addressed to the FTC, Office of the Secretary, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580.
Copies of the application, as well as other documents associated with this case, are available from the FTC's Public Reference Branch, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-326-2222; TTY for the hearing impaired 1-866-653-4261. To find out the latest FTC news as it is announced, call the FTC's NewsPhone recording at 202-326-2710. FTC news releases and other materials also are available on the Internet at the FTC's World Wide Web Site at: http://www.ftc.gov
(FTC Docket No. C-3478)