Hercules sells water-treatment business to GE Specialty Materials

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Wilmington, Del.--Hercules Inc., a manufacturer and marketer of specialty chemicals, announced Tuesday that it has agreed to sell for $1.8 billion in cash the water-treatment business of its BetzDearborn division to GE Specialty Materials, a unit of General Electric Co. The Paper Process Chemicals business, approximately one-third of the BetzDearborn operations purchased by Hercules in 1998, will remain with Hercules. The company plans to use the proceeds of the sale to pay down debt.
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