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Cognis: Sale of UV Acrylates Business to IGM Resins Now Formally Completed

Published on 2010-09-13. Author : SpecialChem

MONHEIM -- Global specialty chemicals supplier Cognis and IGM Resins B.V., based in Waalwijk, The Netherlands, announced that the sale of Cognis' UV acrylates business has now been formally completed.

Following the signing of the Sale and Purchase Agreement in April 2010, and fulfillment of the necessary closing conditions, the sale has now been formally concluded.

The UV acrylates business, which had been part of Cognis' Functional Products strategic business unit, manufactures and sells monomers and oligomers for UV applications marketed under the Photomer brand name. The sale of the UV acrylates business includes the Photomer trademarks, intellectual property, inventory, and the Charlotte manufacturing site in the US. The employees at the Charlotte manufacturing site as well as other employees in the US, France and Asia directly related to the business have been transferred to the new owner. The sale is in line with Cognis' strategy to focus on its core businesses and product groups supporting the wellness and sustainability trends.

About Cognis :

Cognis is a worldwide supplier of specialty chemicals and nutritional ingredients, with a particular focus on the areas of wellness and sustainability. The company employs about 5,500 people, and it operates production sites and service centers in 30 countries. Cognis has dedicated its activities to a high level of sustainability and provides value adding solutions and products based on renewable raw materials. The company serves the food, nutrition and healthcare markets, and the cosmetics, detergents and cleaners industries. Another main focus is on products for a number of other industries, such as coatings and inks, lubricants, as well as agriculture and mining.

Cognis is currently owned by private equity funds advised by Permira, GS Capital Partners, and SV Life Sciences. In 2009, Cognis recorded sales of about 2.6 billion euros and an adjusted EBITDA (operating result) of 364 million euros.

About IGM Resins:

Founded in 1999 IGM Resins is a global specialty chemicals company focusing on UV radiation curing markets. Today IGM Resins has offices and production facilities in several European countries, the US, South America and China. Strong customer focus, flexibility and transparent relationships with partners and customers have allowed IGM to rapidly develop its business. IGM Resins' strategy is to expand its portfolio, services, production, technical support and product development in support of UV radiation curing markets globally.

Source: Cognis


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