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Stock impact report

Ecovyst Completes Sale of Advanced Materials & Catalysts Segment to Technip Energies [Yahoo! Finance]

Ecovyst Inc. (ECVT) 
Company Research Source: Yahoo! Finance
acid regeneration services and ex-situ catalyst activation services, announced today that the Company has completed the sale of its Advanced Materials & Catalysts segment to Technip Energies. "We believe the sale of our Advanced Materials & Catalysts segment creates significant value for our stockholders by allowing us to realize the intrinsic value of the business," said Kurt J. Bitting, Ecovyst's Chief Executive Officer. "Net proceeds from the sale will provide for significantly reduced leverage and enhanced financial flexibility that we believe will support the implementation of our growth strategies as well as the active return of capital to stockholders through our existing stock repurchase authorization," added Bitting. "We want to thank the Advanced Materials & Catalysts team for their valued contributions to Ecovyst, and we wish them continued success as part of Technip Energies." Arnaud Pieton, CEO of Technip Energies, commented: "Closing this transaction is an important Show less Read more
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