Cognis sells Pulcra Chemicals business
Specialty chemicals supplier Cognis is to sell its Pulcra Chemicals subsidiary to Germany-based Fashion Chemicals GmbH & Co. KG for €26.3 million. The agreement was signed today in Düsseldorf. The final transaction is expected to be completed by the end of October.
Pulcra Chemicals, which supplies process chemicals to the textile and leather industries, was previously the process chemicals strategic business unit of Cognis. Pulcra operates production sites and service centres in Brazil, China, Germany, India, Indonesia, Italy, Mexico, Spain, Turkey and the USA. In 2007, itreported external sales of €246 million.
CEO of Cognis, Antonio Trius, said: “We are sure that Fashion Chemicals supported by DSD with its deep understanding of market requirements is an excellent fit and will help Pulcra Chemicals to develop its business successfully as well as safeguard its long-term competitiveness. This transaction will enable Cognis to consistently focus on its innovation-driven growth markets of wellness and sustainability.”
