RAG Subsidiary Degussa Divests Antioxidants Business
Thursday, February 1, 2007
Press Release
RAG Subsidiary Degussa Divests Antioxidants Business
Thursday, February 01, 2007
Degussa GmbH, Düsseldorf, is selling its antioxidant activities to a subsidiary of the Starnberg holding company ARQUES Industries AG. The transaction includes the sale of the Spanish head office in Barcelona (Degussa Sant Celoni S.A.) and the antioxidants business of the British company Degussa Knottingley Ltd., headquartered in Knottingley. The financial terms have not been disclosed. The sale is subject to the approval of the relevant authorities and cartel offices. Degussa and ARQUES expect the transaction to be finalized in the first quarter of 2007.
Dr. Klaus Engel, chairman of the Management Board of Degussa GmbH and a member of the Management Board of RAG Aktiengesellschaft says: “With this transaction, we are, in the context of our systematic portfolio optimization, divesting ourselves of an activity that is not part of our core business. We will continue to focus on highly profitable specialty chemicals.”
Antioxidants are used to prevent oxidation, or reaction with atmospheric oxygen. Degussa’s antioxidants business comprises products for plastics, lubricants, foods, and paints as well as beauty care and wellness. In fiscal 2005 about 140 employees generated sales of approximately € 60 million.
Degussa – a wholly owned subsidiary of the RAG Group – is the global market leader in specialty chemicals. Our business is creating essentials – innovative products and system solutions that make indispensable contributions to our customers’ success. In fiscal 2005 around 44,000 employees worldwide generated sales of 11.8 billion euros and operating profits (EBIT) of 940 million euros
RAG Aktiengesellschaft
Reinhard Scheiler
Press / Media
+49-211-65041-370
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