STAMFORD, CT — Witco Corp. and Crompton & Knowles Corp. completed their previously announced merger, creating CK Witco Corp. The company is one of the world’s biggest specialty-chemicals producers, with annual sales of approximately $3.3 billion.

Just prior to completion of the merger, Witco said it had finalized the sale of its Oleochemicals and Derivatives business to Goldschmidt AG and SKW Trostberg of Germany for $248.9 million. Included in the transaction are production sites in Janesville, WI, and Mapleton, IL, and facilities in the United Kingdom, Spain, and Germany. The sale does not include Witco’s Polymer Chemicals and Industrial Specialties facility in Memphis, TN, or a metal organics plant also located in Mapleton, IL.