02 November 2004 09:50 [Source: ICIS news]
LONDON (CNI)--French specialty chemicals company Rhodia announced on Tuesday the sale of its membrane filtration technology subsidiary Orelis to the French Novasep group.
A manufacturer of organic and inorganic membranes, Orelis also provides services for the design and installation of membrane-based filtration systems and equipment.
Orelis generated net sales of Euro20m ($25m) in 2003 and employs 90 people. It mainly serves customers in the pharmaceutical, biotech, agro-food, automotive, and environmental protection markets. The company has its headquarters and sole production facilities at Saint Maurice de Beynost near Lyon.
Rhodia would not disclose the financial terms of its Orelis deal, which it said was completed today. However, it said the disposal was part of its policy of divesting non-strategic activities.
A Rhodia spokeswoman said the Orelis disposal had not been driven by the group's financial restructuring programme for which all divestments had been completed.
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