Solvay signs agreement to sell Caprolactones business to Perstorp
Solvay announced that it has signed a sale & purchase agreement with the Perstorp Group of Sweden to sell the latter its entire Caprolactones business, which is active in the production, marketing and sales of epsilon-Caprolactone. The transaction is expected to be completed in the fourth quarter of 2007, pending the relevant regulatory approvals. The agreed price for the transaction is EUR 200 million.
Solvay's Caprolactones business - which is part of the Group's Chemicals Sector - serves clients worldwide, from a manufacturing site located in Warrington (United Kingdom). These activities generated a turnover of about EUR 60 million in 2006 with 65 employees.
Solvay's strategy in the chemicals sector includes the pursuit of technological innovation and the development of specialties. Specific areas of interest relate to activities where Solvay covers the entire value chain, from the original raw materials to the most sophisticated research-intensive applications. In the case of Caprolactones, Solvay does not control the supply of the main raw material, cyclohexanone. In addition, the caprolactones business does not result in significant synergies with the Group's other activities in the Chemicals and Plastics sectors.
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