Sweden's Perstorp sells Formox unit to UK-based Johnson Matthey

28 March 2013 07:53  [Source: ICIS news]

SINGAPORE (ICIS)--Swedish specialty chemicals maker Perstorp said on Thursday it has sold its formaldehyde technology and catalyst business, Fomox, to UK-based Johnson Matthey for an undisclosed fee.

“The divestment is in line with Perstorp’s strategy to focus on and expand its core specialty chemicals activities,” the company said in a statement.

Fomox is a provider of catalysts, plant designs and licences for the manufacture of formaldehyde, a chemical intermediate.

It is based in Perstorp, Sweden, and employs 100 people in Sweden, China, Singapore and the US.

By: Nurluqman Suratman

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