Swiss Lonza sells US performance urethanes and organics business

29 November 2012 07:29  [Source: ICIS news]

SINGAPORE (ICIS)--Lonza has signed a definitive agreement with Monument Chemical for the sale of Lonza’s US performance urethanes and organics business in Brandenburg, Kentucky, the Swiss fine chemicals and pharmaceuticals company said on Thursday.

Financial terms were not disclosed and the formal closing of the agreement is expected towards the year-end, the company said in a statement.

Amy Schumacher, president of Monument Chemical said: “We are excited about the acquisition of the Brandenburg facility – the latest example of Monument Chemical’s continued investment in and growth of its portfolio. The addition of the performance urethanes and organics business provides a strong strategic foundation that will benefit the suppliers, customers and employees of the Monument family.”

The sale comes as part of a divestiture of certain Arch Chemicals business and assets. A formal process for the sale was initiated in July this year.

By: Surinder Malhi
+65 6780 4327

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