The E40m-turnover unit will be sold to a consortium

The E40m-turnover unit will be sold to a consortium

Chemicals supplier Cognis is to sell off its PVC stabilisers business. The E40m-turnover division will be bought by a consortium of companies comprising Reagens of Italy and Sun Ace Kakoh of Singapore. Both purchasers are leading manufacturers of PVC stabilisers.

Cognis has two stabiliser manufacturing sites and a sales office in Germany. It also has a production site in Hong Kong. In total, the division employs around 160 people. The new owners expect to retain most of the staff. Cognis says it is selling the business because it “has little in common with our core competencies”. Its stabilisers are based on calcium-zinc technology. The deal should be formally concluded by the end of this month.