US Nalco agrees to sell marine chemicals unit for $41m

06 January 2011 16:55  [Source: ICIS news]

HOUSTON (ICIS)--Nalco agreed to sell its NALFLEET marine chemicals unit for $41m (€31.2m) to Norway’s Wilhelmsen Ships Service, the US water-treatment chemicals producer said on Thursday.

Nalco said that supply-chain-related assets were not included in the sale, which is expected to close in the first quarter.

“The marine chemicals business is not a core part of our industrial water and process treatment businesses,” said Nalco CEO Erik Fyrwald.

NALFLEET, as a part of Wilhelmsen Ships Service, joins the world’s largest maritime services network and will have greater access to global shipping customers and market growth opportunities,” he added.

($1 = €0.76)

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By: Ben DuBose
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