Avecia Completes Sale of its Additives Business to Lubrizol
Avecia announced that it has completed the sale of its specialty additives business, headquartered in Manchester, England, to The Lubrizol Corporation.
This concludes an agreement previously announced on 22 December 2003.
The Additives business had 2003 sales of approximately £30 million.
The business' principle manufacturing asset at Huddersfield, UK is included in the sale. Other manufacturing facilities at Grangemouth, Scotland will continue to be operated by Avecia under a long term supply agreement. 112 employees will transfer to Lubrizol, including commercial staff in Europe, Asia and North America.
The Additives business is an established global supplier of polymeric dispersion technology. The business develops, manufactures and markets an innovative range of over 60 high performance additives for paints, inks, plastics and pigment treatment applications. These are marketed under the brand names, SolsperseTM, SolplusTM and SolthixTM. The products enrich and strengthen colour while reducing production costs and solvent emissions.
Other news from the department business & finance
