Hoechst closes Herberts sale to DuPont

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.

By: Patrick Reynolds
+44 208 652 3214

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