Cognis, Monheim, Germany, has announced the sale of its 50% stake in the Cognis Oleochemicals joint venture to PTT Chemical International Private Ltd., a Singapore-based wholly owned subsidiary of PTT Chemical Public Company Limited. PTT Chemical is Thailand’s largest producer of olefins and associated products. The final transaction is subject to usual closing conditions and is expected to be completed by the end of September.
Cognis has also announced the signing of an agreement to sell its Pulcra Chemicals subsidiary to Germany-based Fashion Chemicals GmbH & Co. KG for €26.3 million. Fashion Chemicals is backed mainly by DSD Deri Sanayicileri Dis Ticaret A.S. (DSD), based in Istanbul, Turkey. This transaction is expected to completed by the end of October.
For more information, visitwww.cognis.com.
COGNIS SELLS ITS STAKE IN COGNIS OLEOCHEMICALS TO PTT CHEMICAL
July 31, 2008