Rhodia sells its European specialty phosphates business to Thermphos International

23-Jun-2004

Paris - Following the exclusive agreement signed with Thermphos International on April 22, Rhodia yesterday announced the signing of a definitive agreement for the sale of its European specialty phosphates business.

This business employs 270 people and generated net sales of 75 million euros in 2003. It produces and sells specialty phosphates for use in a wide variety of applications, including food, pharmaceuticals, cleaning agents, water and metal treatment, horticulture and textiles.

The agreement is expected to be finalized before the end of this month.

The transaction is part of the approximately 880 million euros that Rhodia will achieve from divestitures in 2004.

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