Tessenderlo Group : Tessenderlo Group completes sale of its Compounds
Tessenderlo Group (NYSE Euronext: TESB) announced today that it has completed
the sale of its Compounds activities to Mitsubishi Chemical Corporation, a
global industrial company already present in the compounds industry. The sale
comprises four production sites in France, Poland and China and one R&D site
in Belgium, employing 360 employees.
On February 27 2013, the group announced its intention to divest its Compounds
business unit. Information and consultation procedures were subsequently
successfully completed and merger control approval has been given.
This divestment is in line with Tessenderlo Group's strengthened focus on
specialty products and services in the areas of food, agriculture, water
management and valorizing bio-residuals.
The divested activities produce thermoplastic elastomers (TPE) and PVCs
Compounds that are specially formulated for applications in the building,
automotive, cabling and many other areas. Its revenue amounted to 124 million
EUR in 2012.
Tessenderlo Group is a worldwide specialty company, focused on food,
agriculture, water management and on valorizing bio-residuals. The group
employs about 7,000 people and is a leader in most of its markets, with a
consolidated revenue of 2.1 billion EUR in 2012. Tessenderlo Chemie NV is
listed on NYSE Eurolist by Euronext Brussels and is part of Next 150 and BEL
Mid indices. Financial News wires: Bloomberg: TESB BB - Reuters: TesBt.BR -
Mitsubishi Chemical Corporation is Japan's leading chemical company with
chemistry-based technology platforms for the development of a wide range of
technologies and products in the fields of performance products, healthcare,
and industrial materials. The Group employs more than 27,000 employees and
posted net sales of about 2.0 trillion JPY in fiscal year ended March 2013.
Mitsubishi Chemical Corporation is one of four core operating companies of the
Mitsubishi Chemical Holdings (MCHC) Group. The Group employs more than 55,000
people, with a consolidated revenue of about 3.1 trillion JPY, and is listed
Media Relations Investor Relations
Kathleen IWENS Philip LUDWIG
+32 (0) 478 664 555 +32 2 639 16 58
This press release is available in Dutch, French and English at
www.tessenderlogroup.com - 'News & Media'
To read the full press release in English, click here
Pour lire le communiqué de presse complet en Français, cliquez ici
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Source: Tessenderlo Group via Thomson Reuters ONE
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