Cognis announced last week that it has agreed to acquire Degussa AGs Laporte Performance Chemicals, a manufacturer of polyalkylene glycols and other chemicals.
The deal,whose termswere not disclosed,is subject to approval by European regulatory authorities. A sale would meet the final condition of the European Commissions approval ofDegussas 2001 acquisition of British fine chemicals producer Laporte Plc.
Laporte Performance Chemicals operates production and development facilities in Hythe and Barry, U.K. In addition to polyalkylene glycols, it produces biodegradable components for paints, coatings, rubber and plastics. The business employs 220 people and had sales of Euro 95 million (U.S. $102 million) in 2001.
Cognis –which like Degussa is headquartered in Dusseldorf, Germany– processes a wide variety of natural fats and oils and manufactures synthetic lubricants, as well as materials for cosmetics, detergents, inks, coatings, textiles and pharmaceuticals.