IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

Evonik Sells U.K. Site to Management

3:49 AM MST | November 28, 2008 | Natasha Alperowicz

Evonik Industries says it has agreed to sell its custom manufacturing operation based at Seal Sands, U.K. to management. Financial details were not disclosed. The management team, led by Keith Hanson, has established a new company, Fine Organics Ltd., which will run the business. The transfer includes all assets, the employees and ongoing business based at Seal Sands. "Fine Organics starts with a well experienced team [and] I am convinced the management buy-out of the Seal Sands [business] is a good starting point for [its] success in the future,"...

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