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Rhodia Completes Two Divestitures

Published on 2005-10-11. Author : SpecialChem

PARIS -- Rhodia announced the finalization of two divestitures initiated during the second quarter 2005:

  • The sale of its European cartridge silicone sealants business to Henkel, following the agreement signed August 8 ;
  • The sale of its phosphates and sulfuric acid manufacturing businesses at its site in Rieme to Misa Inc., following the agreement signed September 2.

These divestments form part of the divestiture of non strategic activities being undertaken by the Group with a view to refocusing its business portfolio.

Finalization of the sale to Henkel of its European cartridge silicone sealants business

Following the announcement on August 8 of an agreement to sell its European cartridge silicone sealants business to Henkel, Rhodia today announced the sale has been completed. This business, which generated sales of more than 50 million euros in 2004, comprises the production and distribution in Europe of a wide range of silicone sealants sold in cartridge form for the construction and Do-It-Yourself (DIY) markets.

The Rhodia Group will continue, through its Silcea Enterprise, to develop and manufacture core intermediates as well as bulk silicone sealants and market them in Europe and the rest of the world.

“Henkel - A Brand like a Friend”. Henkel is a leader with brands and technologies that make people's lives easier, better and more beautiful. The Henkel Group operates in three strategic business areas – Home Care, Personal Care, and Adhesives, Sealants and Surface Treatment. In fiscal 2004 the Henkel Group generated sales of 10,592 billion euros. More than 50,000 employees work for the Henkel Group worldwide. People in around 125 countries around the world trust in brands and technologies from Henkel.

Finalization of the sale to Misa of its phosphates and sulfuric acid manufacturing businesses in Rieme

Following the announcement on September 2 of an agreement to sell its phosphates and sulfuric acid manufacturing businesses at its site in Rieme (Belgium) to Misa Inc., Rhodia today announced the sale has been completed.

This transaction marks a further step in Rhodia’s withdrawal from the phosphates area.

Misa Inc. is an affiliate of Uganda based Madhvani International engaged in the development of projects in the industry, energy, agriculture and infrastructure sectors.

Rhodia is a global specialty chemicals company recognized for its strong technology positions in applications chemistry, specialty materials and services, and fine chemicals. Partnering with major players in the automotive, electronics, fibers, pharmaceuticals, agrochemicals, consumer care, tires, and paints and coatings markets, Rhodia offers tailor-made solutions combining original molecules and technologies to respond to customers’ needs. Rhodia subscribes to the principles of Sustainable Development communicating its commitments and performance openly with stakeholders. Rhodia generated net sales of €5.3 billion ($6.9 billion) in 2004 and employs 20,000 people worldwide. Rhodia is listed on the Paris and New York stock exchanges.

Source: Rhodia


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