Carmeuse and Oglebay Norton Receive FTC Approval for Pending Transaction


Transaction Expected to Close Shortly

LOUVAIN-LA-NEUVE, Belgium, PITTSBURGH and CLEVELAND, Feb. 8 -- Carmeuse Lime & Stone, a wholly-owned subsidiary of Carmeuse Group, and Oglebay Norton Company (Pink Sheets: OGBY.PK) today announced that they have received approval from the Federal Trade Commission (FTC) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to Carmeuse's pending acquisition of Oglebay Norton. No further regulatory approvals are required and, as previously announced, shareholders of Oglebay Norton voted to approve the merger agreement at a special meeting of shareholders on November 9, 2007. Accordingly, the transaction is now expected to close shortly.

"We are delighted to have received the final approval needed to complete our transaction with Carmeuse," said Michael Lundin, President and Chief Executive Officer of Oglebay Norton. "In addition to providing our shareholders with significant value for their shares, our combination with Carmeuse also affords greater resources to better meet the needs of our customers."

As previously announced, Carmeuse and Oglebay Norton entered into a definitive agreement under which Carmeuse will acquire all of the outstanding shares of Oglebay Norton for $36.00 per share in cash.

About Oglebay Norton

Oglebay Norton Company, a Cleveland, Ohio-based company with a 150-year tradition of service, provides essential minerals and aggregates to a broad range of markets, from building materials and environmental remediation to energy and industrial applications. For more information, see: oglebaynorton.com.

About Carmeuse Lime & Stone

Based in Pittsburgh, Pennsylvania, Carmeuse Lime & Stone is the largest producer of lime products in North America, manufacturing and distributing over 6 million tons per year of lime products, and a further 4 million tons of chemical grade limestone and aggregates. Its 14 manufacturing facilities supply and serve 27 states and provinces in the eastern USA and Canada, and employ over 1,200 employees. For more information, see: www.carmeusena.com.

About Carmeuse Group

The Carmeuse Group is a leading global producer of lime, with more than 140 years of experience in the extraction and processing of high calcium limestone and dolomitic stone into lime and lime-related products for industrial and commercial customers. Lime is used in multiple aspects of our everyday life (steel, construction, agro-food, paper, chemicals, plastics, carpets, paints, pollution control, water treatment, ...).

Carmeuse is present in about 70 locations across Western Europe (in Italy, Belgium, France and the Netherlands), Central and Eastern Europe (Slovakia, the Czech Republic, Hungary, Romania and Turkey), North America (the United States and Canada) and Africa (Ghana). Total consolidated group net turnover amounted to 940 million Euros in 2006. For more information, see: www.carmeuse.com.

Oglebay Norton Contacts:
Julie A. Boland
Vice President, CFO, Treasurer and Corporate Secretary
Oglebay Norton Company
216-861-8941

Andrew Siegel / Jaime Wert
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Source: Oglebay Norton Company

Web site: oglebaynorton.com/ www.carmeusena.com/ www.carmeuse.com/

All Topics