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Atofina plans to sell its bromochemicals business to Albemarle

Published on 2003-11-04. Author : SpecialChem

 

Atofina, the Chemicals branch of the Total Group, recently reached a framework agreement for the disposal of its Bromochemicals activity to the American company Albemarle.

This activity concerns the manufacture and marketing of bromine and fine organic bromine derivatives used primarily in the pharmaceutical, aroma, ink and varnish, and agrochemical sectors. Its 2002 turnover reached euros 25 millions.

Under the terms of the agreement, Atofina will sell the Port-de-Bouc site (Bouches-du-Rh�ne, France) together with this activity's goodwill, technology and intellectual property.

The sale should consolidate the growth prospects of an activity which represents a marginal market share for Atofina as well as very few synergies with the Company's other operations.

For Albemarle, a world leader in bromochemicals, the deal represents a new growth opportunity in this sector, by complementing its industrial facilities, its product range, and its technological know-how.

This agreement is subject to the trade unions information and consultation procedures and to the approval of the relevant authorities.

This decision marks Atofina's ongoing strategy to streamline its chemical business portfolio.

Source: Atofina


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