the company in 1993, leading to the establishment of the OM Group. Mooney continued to own a 4% share. In the mid-nineties, the firm’s geographical reach was dramatically expanded as a result of the merger and foreign sales increased by more than 50 percent. In 1994, the company invested $19.7 million in a physical plant, increasing its capacity to produce specialty chemicals. In 1995, OM Group and Dainippon Ink & Chemicals created a Japan-based joint venture. OM hoped that its cooperative enterprise would capture 15 percent of the $470 million Japanese market for cobalt-nickel inorganic compounds by the turn of the century. Later in the year, OM entered the chemical recycling industry through the acquisition of Hecla Mining Co.'s Apex mining division in Utah. Recent news On 10 August 2007, OM Group Incorporated acquired the electronics business of Rockwood Holdings Inc.. The Rockwood Electronics businesses consist of printed circuit board (PCB) chemicals, ultra pure chemicals (UPC) and photomasks. EaglePicher Technologies was sold to OM Group Inc. in 2010. In October 2014, OM Group acquired Ener-Tek International, a designer, developer and manufacturer of high-performance lithium-ion and silver-zinc cells and batteries for niche applications in defence and aerospace markets, for a fee of $24 million. As a result of dwindling sales as a result of the slowdown in industrial activity in Europe in the preceding two years, in June 2015 OM Group agreed to be privatized by Apollo Global Management who made an offer of around $1.03 billion in cash. On November 23, 2015, the company announced its name change to Vectra and said it was moving its headquarters to St. Louis, Missouri. ST. LOUIS, Jan. 14, 2017 /PRNewswire/ — Vectra Co. (“Vectra”), a leading technology-driven diversified company serving global markets, announced today that it has completed the sale of its Borchers business division to affiliates of The Jordan Company, L.P. (“Jordan”), a U.S.-based private equity firm with original capital commitments in excess of $8 billion. References External links Official page Companies formerly listed on the New York Stock Exchange Companies based in Cleveland Companies based in Ohio