01 March 1999 09:49 [Source: ICIS news]
LONDON (CNI)--German chemicals and life sciences group Hoechst announced Monday it has closed the sale of its Herberts coatings business to DuPont, following approval of the deal by the European Commission in February.
The business, which will be integrated into DuPont's performance coatings activities, turned in record sales in 1998 with an operating profit of DM220m ($123m/Euro112m) on sales of DM2.9m, said Hoechst.
DuPont agreed to buy Herberts in October last year for DM3.13bn.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections