Belgium’s Tessenderlo to sell pharma ingredients business

09 October 2012 17:03  [Source: ICIS news]

LONDON (ICIS)--Tessenderlo plans to sell its pharmaceutical ingredients business to International Chemical Investors Group (ICIG), the Belgium-based specialty chemicals producer said on Tuesday.

Tessenderlo said it had informed workers at the affected operations – Farchemia in Italy, and Calaire Chimie in France – of its plans. The measure impacts about 360 employees. Financial terms were not disclosed.

“This divestment project is in line with the group's strengthened focus on specialty products and services in the areas of food, agriculture, water management and valorising bio-residuals,” Tessenderlo said.

Last week, the company said it would invest €75m ($97m) to focus a production site in France on water treatment chemicals.

ICIG is a privately-owned industrial holding company focused on mid-sized chemicals and pharmaceutical businesses.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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