09 November 2000 15:22 [Source: ICIS news]
ARNHEM, The Netherlands (CNI)--The sale of Acordis' aramid fibres business Twaron Products to the Japanese chemical and fibre major Teijin may go ahead early next year, according to Peter Rogers, deputy chief executive officer of Acordis.
The Dutch fibres group announced in October that Teijin had made an offer for Twaron. The Dutch works council is currently assessing the company and will advise on the sale shortly.
Rogers told journalists at a meeting in Arnhem that debt reduction was not the key factor in Acordis' decision to sell Twaron. The most important factor was the commitment shown by Teijin to fund the business in the long term. The sale of the unit, said Rogers, will make capital allocation easier.
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