25 March 1999: General Chemical Group named Richard Russell, its president and chief executive officer, to head the company“s spin-off, Gentek Inc.
As a result of the spin-off, to be finalized and p…
25 March 1999: General Chemical Group named Richard Russell, its president and chief executive officer, to head the company“s spin-off, Gentek Inc. As a result of the spin-off, to be finalized and publicly traded by late April, the company said that GenTek will own and operate its manufacturing and performance chemicals businesses and that General Chemical will continue its industrial chemicals operations, specializing in soda ash and calcium chloride. Gentek will make highly engineered components for the auto and transportation industry and will also make chemicals for pharmaceutical, personal care and wastewater treatment businesses. John Kehoe, who was formerly president and CEO of Wheelabrator Technologies Inc., will become chief executive of General Chemical, it said. In other changes of office, Stewart Fisher, the current treasurer of General Chemical, will become vice president and chief financial officer of the company. Delyle Bloomquist will advance to vice president and chief operating officer of General Chemical from his role as vice president and general manager of its industrial chemicals operations. General Chemical said the headquarters of both companies will be in Hampton with operations based in Parsippany, New Jersey. As part of the spinoff, announced in January, shareholders will receive one share of Gentek for each General Chemical share they own. A spokesman at General Chemical said the company has not yet announced a proposed trading symbol for Gentek.