Bri-Chem Corp Announces Letter of Intent to Acquire Cement Blending Business

Bri-Chem Corp announced that it has entered into a letter of intent, with Kemik Inc, Calgary-based chemical blender and packaging company, to acquire their assets and ongoing operations. Under the terms of the Letter of Intent, Bri-Chem has agreed to purchase the assets of Kemik, a blender of a fluid product used for well bore cementing within the oil and gas industry. The transaction, the terms of which are confidential, is expected to be completed by November 30, 2012. Financial terms of the transaction were not disclosed.