Solvay signs deal to sell Caprolactones unit to Perstorp Group for 200 mln eur |
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Mon, 15 Oct 2007 07:53
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BRUSSELS (Thomson Financial) - Belgian chemicals and pharmaceuticals group Solvay SA said it signed a sale and purchase agreement with Sweden's Perstorp Group to divest its Caprolactones unit for 200 mln eur.Caprolactones produces, markets and sells epsilon-caprolactone and downstream derivatives. The company generated turnover of 60 mln eur in 2006 and employs 65 people at its Warrington plant in the UK.Solvay said in a statement that Perstorp intends to double production capacity.Jorge Grande, unit manager of Caprolactones said in a statement: 'Solvay's priority is sustainable, profitable growth in selected areas of pharmaceuticals, chemicals and plastics. Meeting those objectives in Caprolactones required a major effort. After careful consideration, Solvay came to the conclusion that this business would enjoy the best development prospects outside the group's perimeter.'Perstorp is a specialty chemical company, world leader in the production of oxo chemicals and polyols, derived mainly from propylene and methanol. Its products are used in the aerospace, marine, coatings, chemicals, plastics, engineering and construction industries.phil.mccomish@thomson.comvm/pam/raCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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