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Artek US, a Praana Group subsidiary, acquired the energy-related division from Kemira for approximately USD $280 million and merged it with Sterling Specialty Chemicals to form a larger global specialty chemicals business.
Owens Corning signed a definitive agreement to sell its glass reinforcements business to Praana Group at an enterprise value of $755 million. The sale is part of Owens Corning's strategic plan to focus on residential and commercial building products.