08 September 2010 14:34 [Source: ICIS news]
LONDON (ICIS)--Cognis has completed the sale of its UV acrylates business to Dutch company IGM Resins, the specialty chemicals firm said on Tuesday.
Cognis said that following the signing of the sale and purchase agreement in April, and fulfilment of the necessary closing conditions, the sale had now been formally concluded.
The UV acrylates business, which had been part of Cognis’ Functional Products strategic business unit, manufactures and sells monomers and oligomers for UV applications marketed under the Photomer brand name.
The sale of the UV acrylates business included the Photomer trademarks, intellectual property, inventory, and the company's Charlotte manufacturing site in the US.
The employees at the Charlotte manufacturing site as well as other employees in the US, France and Asia directly related to the business have been transferred to the new owner, said Cognis.
No financial details of the agreement were released.To discuss issues facing the chemical industry go to ICIS connect
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