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November 03, 2008 11:59
Sale of Pulcra Chemicals now formally completed
Global specialty chemicals supplier Cognis and Fashion Chemicals GmbH & Co. KG today announced that the sale of Pulcra Chemicals has now been formally completed. The sale is in line with Cognis’ strategy of focusing on its core businesses driven by the wellness and sustainability trends.
The transaction follows the signing of an agreement to sell Cognis’ subsidiary Pulcra Chemicals to Fashion Chemicals GmbH & Co. KG (“Fashion Chemicals”) and is based on the regulatory approval obtained from the relevant authorities. The cash proceeds from the transaction amount to 23.1 million euros. Fashion Chemicals additionally took over 15 million euros of financial liabilities (including debts and pensions).
Pulcra Chemicals, which supplies process chemicals to the textile and leather industries, was previously the Process Chemicals strategic business unit (SBU) of Cognis. The SBU was carved out into separate legal entities on July 1, 2007, and renamed Pulcra Chemicals.
About Cognis
Cognis is a worldwide supplier of innovative specialty chemicals and nutritional ingredients, with a particular focus on the areas of wellness and sustainability. The company employs about 7,600 people, and it operates production sites and service centers in 30 countries. Cognis has dedicated its activities to a high level of sustainability and delivers natural source raw materials and ingredients for food, nutrition and healthcare markets, and the cosmetics, detergents and cleaners industries. Another main focus is on products for a number of other industries, such as coatings and inks, lubricants, as well as agriculture and mining.
Cognis is owned by private equity funds advised by Permira, GS Capital Partners, and SV Life Sciences. In 2007, Cognis recorded sales of about 3.52 billion euros and an Adjusted EBITDA (operating result) of 410 million euros.
Contact
Susanne Marell, Vice President Corporate Communications
Cognis GmbH
Phone: +49-2173-4995-222
Email: susanne.marell@cognis.com
Internet: www.cognis.com
Viola Stahl, Communications Manager
Cognis GmbH
Phone: +49-2173-4995-221
Email: viola.stahl@cognis.com
Internet: www.cognis.com