Following the earlier sale of its interests in its Malaysian joint ventures, the company has signed an agreement with the Belgium-based Oleon for the sale of its European Oleochemicals operation.
Oleon, one of the top three Oleochemicals companies in Europe, will acquire all the assets of the business and all employees (around 90) will transfer to the new owner. Located in Emmerich, Germany, the business posted worldwide sales of approximately EUR 50 million in 2005.
OLEON NV is specialized in converting natural fats and oils into a wide range of oleochemical products, such as fatty acids, glycerine, fatty alcohols and fatty esters. These products combine the highest performances with ready biodegradability. With a sales volume of 300.000 tons per year and a turnover of 250 million EUR, OLEON belongs to the top three on the European scene.
Source: oleoline.com vom 2006-07-20.