12 September 2013 14:00 [Source: ICIS news]
LONDON (ICIS)--Tessenderlo has sold its UK-based Eurocell polyvinyl chloride (PVC) profiles business to investment firm H2 Equity Partners for an undisclosed sum, the Belgian chemicals firm said on Thursday.
The sale comprises three production sites, a warehousing site, and 124 sales branches, employing 978 employees.
Eurocell had revenues of £140m (€167m, $223m) in 2012. The business is described as a leading UK supplier and distributor of PVC building materials, such as window and door profiles.
Tessenderlo said the divestment was in line with its strategy to focus on specialty products and services in the areas of food, agriculture, water management and valorising bio-residuals.
($1 = €0.75, €1 = £0.84)
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