Tessenderlo to sell compounds business to Japan's Mitsubishi Chem

27 February 2013 04:35  [Source: ICIS news]

LONDON (ICIS)--Tessenderlo plans to sell its compounds business to Mitsubishi Chemical for an undisclosed sum, the Belgium-based chemicals firm said late on Tuesday.

The intended sale comprises production sites in France, Poland and China, as well as a research and development (R&D) site in Belgium.

The divestment is in line with Tessenderlo’s focus on specialty products and services in the areas of food, agriculture, water management and bio-residuals, Tessenderlo said in a statement.

Tessenderlo’s compounds business includes a range of thermoplastic elastomers (TPE) and polyvinyl chloride (PVC) products with applications in the building, automotive, cabling and other areas.  

The business employs a staff of about 360 people and generated €120m ($156m) in revenues in 2011.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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