Croda has agreed to sell Uniqema GmbH, its German oleochemicals business, to Malaysias Kuala Lumpur Kepong for 60.5 million (U.S. $75 million).
Croda, based in East Yorkshire, U.K., acquired Uniqema from Imperial Chemical Industries in 2006. The sale of the Emmerich site and associated business in Germany largely completes Crodas restructuring program, to reposition its oleochemical operations following the Uniqema acquisition, according to Eversheds, the international law firm that advised Croda on the sale.
According to the Malaysian Industrial Development Authority, the Emmerich site will become the business and distribution base for KLKs oleochemicals division in Europe. Uniqema GmbH has a capacity of about 150,000 tons per year. Its acquisition will expand KLKs production capacity and its product range of fatty acids and glycerine.