27 October 2009 15:33 [Source: ICIS news]
Evonik finalised the sale on for a cash sale price of €78.5m ($116.3m), less debts, after it was approved by the boards and the relevant antitrust authorities.
The sale covers the entire AlzChem Group, which will remain headquartered in Trostberg in southeastern ?xml:namespace>
BluO will continue AlzChem’s current corporate strategy and said it would not call for any layoffs until the end of 2011 or close any site in the next five years.
Evonik recently denied a report that it was planning to sell its power production and real estate divisions to focus on its specialty chemicals business.
AlzChem is focused on NCN chemicals, which are products with typical nitrogen-carbon-nitrogen bonds that have applications in agriculture, chemicals and active pharmaceutical ingredients.
($1 = €0.67)
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