INDIANAPOLIS, Sept. 8, 2016 /PRNewswire/ — Vertellus Specialties Inc. (“the Company”), a global manufacturer of fine and specialty chemicals, today announced that the U.S. Bankruptcy Court has approved the anticipated sale of substantially all of Vertellus Specialties Inc.’s assets to the Company’s existing term loan lenders as outlined in the agreement first announced on May 31, 2016. The Court’s decision today follows the successful resolution of all remaining objections raised by the Company’s creditors, environmental regulators and other business partners to allow for a consensual asset sale. The transaction is expected to be completed by the end of September.

“Vertellus is extremely grateful for the cooperation of our lenders, environmental regulators, creditors and other business partners in working through the remaining issues over the holiday weekend and clearing the way for a swift approval of the agreement we firmly believe is in the best interest of all parties,” said Richard Preziotti, President and Chief Executive Officer. “Vertellus will very soon achieve our objective of becoming a financially stronger company that is well positioned to compete – and succeed – in today’s global markets, and that is great news for our employees, customers, suppliers and everyone who depends on our business. We thank everyone who contributed to this positive outcome and look forward to being an even stronger business partner moving forward.”