Cornerstone Announces Sale of Sulfuric Acid Operations to Ecovyst

WAGGAMAN, La.–(BUSINESS WIRE)–Cornerstone Chemical Company (“Cornerstone” or “the Company”), operator of the Cornerstone Energy Park, today announced the sale of its Sulfuric Acid operations to Ecovyst, a global provider of advanced materials, specialty catalysts, sulfuric acid and regeneration services.

Ecovyst’s business structure includes two core business units: Advanced Materials and Catalysts (AM&C) and Ecoservices. Ecovyst is headquartered in Malvern, Pennsylvania and employs more than 900 employees throughout its 12 facilities across multiple locations worldwide. The Ecoservices segment of Ecovyst is a leading North American provider of virgin sulfuric acid and sulfuric acid regeneration services.

“Cornerstone looks forward to a smooth transition of the Sulfuric Acid business to Ecovyst, and we are confident in the long-term success of that business and its employees,” said Matthew Sokol, Cornerstone’s president and chief executive officer. “The sale of our Sulfuric Acid business is the next step in aligning our strategic goal of operating high-performing specialty chemical assets and a world-class Energy Park in Southern Louisiana. We thank those members of our team who are part of the Sulfuric Acid business, and we wish Ecovyst much success in the future.”

Situated along the Mississippi River in Waggaman, Louisiana, Cornerstone Energy Park serves as a prominent industrial hub and service provider. Established in 1952, the Energy Park is home to several state-of-the-art chemical manufacturing facilities, including site owner Cornerstone Chemical Company, LLC. With approximately 400 employees, Cornerstone is an industry-leading manufacturer of high-quality intermediate chemicals used for a variety of end-market applications.

Moelis & Company LLC served as exclusive financial advisor to Cornerstone in connection with the transaction, and Akin Gump Strauss Hauer & Feld LLP served as mergers and acquisitions (M&A) counsel.

About Cornerstone Chemical Company, LLC

Headquartered in Waggaman, Louisiana with approximately 400 employees, Cornerstone Chemical Company is an industry-leading manufacturer of high-quality intermediate chemicals used for a variety of end-market applications. For more information about Cornerstone, visit https://cornerstonechemco.com/ or read about Cornerstone’s involvement in the Greater New Orleans and Louisiana communities.

Contacts

Ainslie Blanke, 504-407-7351 – Ainslie.Blanke@cornerstonechemco.com