ICL sell PCG businesses One Rock Capital Partners

ICL to sell PCG businesses to One Rock Capital Partners

11:14 AM, 26th May 2015
ICL to sell PCG businesses to One Rock Capital Partners

TEL AVIV, ISRAEL: Israel Chemicals Ltd said that the performance products segment will sell it’s Germany-based pharmaceutical, cosmetics and gypsum (PCG) businesses to an affiliate of One Rock Capital Partners, a New York based private equity firm active in the chemicals industry. The share and asset purchase agreement is expected to close in the near term, it said.

ICL’s PCG business units are engaged in the production of active ingredients for antacids and antiperspirants, as well as products for dental applications. The sale of the PCG business units is part of ICL’s strategy to focus on its core businesses in the agriculture, food and engineered materials markets and to optimize its positioning in those markets, it said.

One Rock’s purchase of the PCG businesses is in line with its investment strategy and will provide One Rock with an opportunity to expand its activities in the global chemicals industry, ICL said.

“ICL performance products intends to use the proceeds from the sale to strengthen our core businesses in the food and engineered materials markets, and to expand our global presence, especially in emerging markets,” said Mark Volmer, president and CEO, ICL performance products segment.

“We plan to strengthen the business even further and will work in earnest to continue to provide PCG’s customers with the best products and services globally,” said Tony Lee, managing partner, One Rock. 

© Worldofchemicals News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Johnson Matthey acquires StePac’s MAP business for $28 mn

ROYSTON, UK: Speciality chemical company Johnson Matthey Plc said that on 18 May it acquired the StePac modified atmosphere packaging (MAP) business ( ...

Read more
New chemical technology boosts potency of targeted cancer therapy

BOSTON, US: In work that heralds a new, more potent form of targeted therapy for cancer, Dana-Farber Cancer Institute scientists have devised a chemic ...

Read more
Nature inspires first artificial molecular pump

EVANSTON, US: Using nature for inspiration, a team of Northwestern University scientists is the first to develop an entirely artificial molecular pump ...

Read more
New chemical catalysts are less expensive, more sustainable

NEW HAVEN, US: Yale University chemists have helped develop a family of new chemical catalysts that are expected to lower the cost and boost sustainab ...

Read more
India to build new ammonia-urea plant in Assam; to invest INR 45 billion

DELHI, INDIA: The union cabinet in India said it has approved construction of an ammonia-urea complex at Namrup, Assam with a production capacity of 8 ...

Read more
Hexcel launches new carbon fibre plant site in France

STAMFORD, US: Composites company Hexcel Corporation said that it has launched a site in Roussillon, France where it will invest $250 million to constr ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X