ICI to sell Cimsec Business to Henkel
ICI has agreed to sell its Cimsec business, part of ICI paints Europe, to Henkel for an undisclosed cash consideration. The value of the gross assets being divested is 13m Euro (9m GBP). ICI is selling the non-core Cimsec tile adhesives and grouts business in order to focus on its core decorative paint brands in Central and Eastern Europe .
Cimsec, which is used by professional tile layers and by consumers, operates in Austria, Hungary, Czech Republic, Slovakia, Croatia and Poland. It has annual sales of about 20m Euro (14m GBP) and employs around 60 people who will transfer to Henkel following employee consultation.
Completion of the agreement is expected in Quarter 2 2006, subject to regulatory approval. Proceeds of the sale will be used to reduce Group debt.
Other news from the department business & finance

Get the chemical industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.
Most read news
More news from our other portals
Last viewed contents
New dissolvable metal support enables 3-D printing of complex metallic structures
Forschungsgemeinschaft Funk e.V. (FGF) - Bonn, Germany
Albany Molecular Research, Inc. Announces Restructuring of Research Departments
Biesterfeld Spezialchemie is exclusive distributor for New Phase Technologies Specialty Polymers

The finer details of rust
Graham Fox Named President and CEO of Equipolymers
