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Croda Divests German Oleochemicals Business

2:57 PM MDT | May 17, 2010 | NATASHA ALPEROWICZ

Croda International (Goole, U.K.) has agreed to sell its oleochemicals business based at Emmerich, Germany to KLK Emmerich, a subsidiary of oil palm plantation group Kuala Lumpur Kepong (KLK), for €60.5 million ($76.5 million). The Emmerich site, which Croda acquired with the 2006 purchase of Uniqema from the former ICI, produces fatty acids and glycerine. The facility had sales of £80 million ($117 million) on a proforma basis in 2009 and reported an operating loss of £2.1 million. KLK will assume retirement benefit obligations of €35 million related to...

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