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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
Croda Divests German Oleochemicals Business
8:21 AM MDT | May 14, 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 â‚¬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 Â£80 million ($117 million) on a proforma basis in 2009 and reported an operating loss of Â£2.1 million. KLK will assume retirement benefit obligations of â‚¬35 million related to...
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