Rhodia divests its Anaesthetics Business to Nicholas Piramal India Ltd

21-Dec-2004

Rhodia announced it has signed an agreement for the sale of its anaesthetics business to Nicholas Piramal India Ltd.

Based at its Avonmouth UK production site, the business manufactures Halothane and Isoflurane, inhalation anaesthetics which are sold globally. Production assets are not included in this transaction and, as part of the agreement, Rhodia will continue to manufacture Halothane and Isoflurane for up to two years exclusively for Nicholas Piramal.

The business generated sales in 2003 of £7 million. It is expected the transaction will be completed in the coming weeks subject to the approval of the Bank of India.

This operation, which marks a new step in the strategic refocusing of Rhodia's Perfumery, Performance & Agro enterprise, forms part of the divestiture of non-strategic activities being undertaken by the Rhodia Group with a view to consolidating its business portfolio.

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