Acordis sells Fine Chemicals to Tessenderlo Group
Acordis has sold its fine chemicals business unit in Leek, UK, to Tessenderlo Group of Brussels, Belgium. Financial details of the transaction were not disclosed.
The Fine Chemicals business in Leek produces a range of specialities for use by manufacturers and formulators, which are sold into a wide range of industries. These include flavour and fragrance (quot;F&Fquot;), tobacco, pharmaceutical & agrochemical, foundry supply, adhesives and chemical processing. Fine Chemicals employs approximately 90 people and has annual sales of some EUR 30 million.
Tessenderlo Group is an international chemicals group with over 100 branches in 21 countries. Over 7,500 people work for the group, of which 2,500 are located in Belgium and over 900 in the UK. The company's consolidated turnover totalled EUR 1,818 million in 2000, from its five main areas of activity (inorganic chemicals, natural organic products, fine chemicals, PVC, plastics converting). The group is a European or world leader in most of its product areas. Tessenderlo Chemie NV is listed on the Brussels stock exchange and part of BEL 20.
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