Ecovyst to Acquire Cornerstone Chemical’s Sulfuric Acid Assets

Ecovyst, a leading global integrated provider of innovative advanced materials, specialty catalysts, virgin sulfuric acid and sulfuric acid regeneration services, has entered into an agreement to acquire the sulfuric acid production assets of Cornerstone Chemical Company, located in Wagman, Louisiana.

The acquisition is expected to expand Ecoservices’ capabilities to serve both regenerative and virgin sulfuric acid customers and provide greater flexibility to the company’s existing network of Gulf Coast facilities. Ecovyst intends to pay for the acquisition in cash and the transaction is expected to close in the second quarter of 2025, subject to customary closing conditions.

George L. Vann, President of Ecoservices, stated, "The acquisition of Cornerstone's sulfuric acid assets provides Ecoservices with a unique opportunity to cost-effectively strengthen its network of facilities and expand its ability to support future growth needs of its customers. We look forward to serving existing customers at the Waggaman facility and strategically integrating the acquired assets to support future growth needs of Ecoservices' customers."

Kurt J. Bitting, Chief Executive Officer of Ecovyst, stated, "Our acquisition of these assets at a discount to replacement value is consistent with our plans to execute on a high-return organic growth program and target strategic add-on investments for Ecoservices. Additionally, the assets trade at a multiple that compares more favorably to Ecovyst's current trading multiple given the expected EBITDA after integration."