Lonza would divest Arch urethanes/other performance ops - CEO

11 July 2011 15:51  [Source: ICIS news]

LONDON (ICIS)--Lonza would divest Arch Chemicals’ performance products businesses if its $1.4bn (€980m) bid for the US-based biocides maker was successful, the companies said on Monday.

The business segment had sales of $186m and is viewed as “non-core” by Lonza, a Switzerland-based life sciences group which bid to acquire US-based Arch to provide a global microbial products platform.

Arch Chemicals says its is actively involved in selling the larger urethanes business within the operational segment, which also includes a hydrazine business with annual sales of less than $20m.

The urethanes business supplies polyols for coatings, adhesives, sealants and elastomers and glycols for antifreeze, cleaning products and consumer goods.

Arch Chemicals’ website says that the performance products segment includes hydrazine propellants and hydrates.

Lonza’s friendly bid for Arch Chemicals has been described as “The next significant step in building Lonza’s life sciences platform,” by Lonza CEO Stefan Borgas.

“Arch is almost a pure play microbial products company,” he said. “The performance products business is up for divestiture, and Lonza will follow that logic.”

($1 = €0.70)

By: Nigel Davis
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index