Degussa to sell its Hythe and Barry operations in the UK

Last European Commission requirement regarding Laporte transaction fulfilled

04-Feb-2003
Degussa AG of Dusseldorf, Germany, has agreed to sell its operations based at Hythe/Southampton and Barry/South Wales in the United Kingdom to Cognis GmbH & Co. KG, Dusseldorf. The transaction is subject to approval by the relevant antitrust authorities. The sale fulfills the final requirement of the European Commission following Degussa's acquisition of the British fine chemicals company Laporte plc in March 2001. It was for this reason that Degussa sold the former Laporte location at Zaltbommel/Netherlands in late 2001, and divested its own persulphate production facility in Rheinfelden/Germany in February 2002. The 220 employees of the Hythe and Barry operations generated sales amounting to more than EUR 95 million in fiscal 2001. The activities comprise chemical auxiliaries for optimizing products used in particular in paint and adhesive technology, gaskets as well as wood and metal coatings. The end users include the automotive, construction and electronics industries. For Cognis, the acquisition represents an important step in the strategic development of the company, not only strengthening its presence in the UK but expanding its portfolio in the areas of synthetic lubricants and coatings. All the respective staff will continue to be employed.

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