Degussa divests its Biocides business

16-Jan-2002
January 14, 2002 PARSIPPANY, NJ (14-01-2002) - On January 1, 2002, Degussa's coatings & Colorants business unit divested its Biocides business to International Specialty Products, Inc. (NYSE, ISP), Wayne, New Jersey. Included in the sale are the well-known FUNGITROL® fungicides, NUOSEPT® preservatives, NUOCIDE® fungicides and algaecides and BIOTREND® biocides. Also included in the sale is the manufacturing facility in Leaside, Ontario, Canada, and key management, manufacturing and technical service personnel. Robert Morlino, Senior Vice President/General Manager for the Colorants and Biocides business line, stated "The biocide business did not fit the long-term strategic goals of the Coatings & Colorants business unit". He added, "This divestiture will allow us to concentrate on growing our Colorants business through organic growth and acquisitions." For a short time, certain aspects of the business, such as sales, agent representatives and customer service, will continue to be handled by Degussa on behalf of ISP. The Coatings & Colorants business unit of Degussa offers a wide range of crosslinkers, resins, and colorants for coatings, adhesives, intermediates and plastics.

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