Rhodia completes two divestitures
Rhodia announced the finalization of two divestitures initiated during the second quarter 2005:
- The sale of its European cartridge silicone sealants business to Henkel, following the agreement signed August 8 ;
- The sale of its phosphates and sulfuric acid manufacturing businesses at its site in Rieme to Misa Inc., following the agreement signed September 2.
These divestments form part of the divestiture of non strategic activities being undertaken by the Group with a view to refocusing its business portfolio.
Finalization of the sale to Henkel of its European cartridge silicone sealants business
Following the announcement on August 8 of an agreement to sell its European cartridge silicone sealants business to Henkel, Rhodia today announced the sale has been completed. This business, which generated sales of more than 50 million euros in 2004, comprises the production and distribution in Europe of a wide range of silicone sealants sold in cartridge form for the construction and Do-It-Yourself (DIY) markets. The Rhodia Group will continue, through its Silcea Enterprise, to develop and manufacture core intermediates as well as bulk silicone sealants and market them in Europe and the rest of the world.
Finalization of the sale to Misa of its phosphates and sulfuric acid manufacturing businesses in Rieme
Following the announcement on September 2 of an agreement to sell its phosphates and sulfuric acid manufacturing businesses at its site in Rieme (Belgium) to Misa Inc., Rhodia today announced the sale has been completed. This transaction marks a further step in Rhodia's withdrawal from the phosphates area.
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