Croda Sells German Oleochemicals Business to KLK

Croda International has agreed to sell its oleochemicals business, based at Emmerich, Germany, to KLK Emmerich GmbH, a subsidiary of the oil palm plantation group Kuala Lumpur Kepong Berhad (KLK), for €60.5 million ($80.8 million). The Emmerich site, which Croda acquired with its 2006 purchase of Uniqema, produces fatty acids and glycerine. KLK will assume the retirement benefit obligations of some €35.2 million related to the business, under the terms of the deal. The business had sales of £80 million ($120 million) on a pro-forma basis and an...

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