Tessenderlo intends sell compounds business Mitsubishi

Tessenderlo intends to sell compounds business to Mitsubishi

5:55 AM, 27th February 2013
Tessenderlo intends to sell compounds business to Mitsubishi

BRUSSELS, BELGIUM: Tessenderlo Group has received an offer for its compounds activities from Mitsubishi Chemical Corporation, a global industrial company. The intended sale comprises four production sites in France, Poland and China and one R&D site in Belgium. The employee representatives of the companies making up the group’s compounds business unit have been informed that the information and consultation procedures will be launched.

This transaction is subject to merger control approval. This divestment project is in line with the group’s strengthened focus on specialty products and services in the areas of food, agriculture, water management and valorizing bio-residuals.

Tessenderlo Group’s compounds business unit has nearly 50 years’ experience and extensive knowhow in formulation and production of thermoplastics, making it market leader in this sector. Its range of thermoplastic elastomers (TPE) and PVCs has been specially formulated to provide original solutions for applications in the building, automotive, cabling and many other areas. The activities in scope of this project employ about 360 employees, and generated revenue of €120 million in 2011.

© WOC News




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