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In Brief: Chattem

This article was originally published in The Rose Sheet

Executive Summary

Chattem: Completes sale of specialty chemicals division to Warren, NJ-based Elcat for $20 mil. in cash and $5 mil. in convertible preferred stock, Chattem announces May 30. The Chattanooga, TN-based company sold Chattem Chemicals to "focus on our expanding consumer products business" and to reduce debt, Chattem President Zan Guerry says. Sales for Chattem Chemicals dropped about 13% to $13.5 mil. in 1994 ("The Rose Sheet" Feb. 13, p. 7)...
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