Subsequent Events

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On February 1, 2018, using $158 million of cash on hand and borrowings under the Company's senior unsecured revolving credit facility, the Company completed the acquisition of 100% of the ownership interests of Omni Plastics, L.L.C. and its subsidiaries ("Omni Plastics"). Omni Plastics specializes in custom compounding of various engineered thermoplastic materials. The acquisition further strengthens the Company's global asset base by adding compounding capacity in the Americas. The acquisition will be accounted for as a business combination, and the acquired operations will be included in the Advanced Engineered Materials segment beginning in the first quarter of 2018. The Company has not presented a purchase price allocation related to the fair values of assets acquired and liabilities assumed because the initial accounting for the acquisition was incomplete as of the issuance date of the financial statements. The acquisition is not expected to be material to the Company's 2018 financial position or results of operations.

Subsequent to December 31, 2017, the Company settled its dispute concerning the exercise of an option right by a partner in two of the Company's InfraServ affiliate investments. As a result of the settlement, effective upon processing by the commercial register (estimated February 2018), the Company’s share of ownership in InfraServ GmbH & Co. Gendorf KG will be reduced from 39% to 30% and in Infraserv GmbH & Co. Knapsack KG from 27% to 22%. The shares will be transferred against net payment of approximately €4 million, after taking into account dividends received by the Company since option exercise.