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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
DSM Sells Fertilizer and Melamine Units to Egypt’s OCI
8:08 AM MDT | April 9, 2010 | Natasha Alperowicz
DSM has agreed to sell its fertilizers and melamine businesses to Orascom Construction Industries (OCI; Cairo) for €310 million ($415 million) on a cash and debt-free basis with effect from January 1, 2010. The businesses had in 2009 combined sales of €489 million, and negative Ebitda and negative Ebit of €19 million and €55 million, respectively. The sale is expected to close in the second quarter, subject to regulatory approvals. New Investment: The Chemelot industrial park. The acquisition will reinforce OCI’s position as a leading...
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