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Tessenderlo Group has the intention to sell its Compounds activities to Mitsubishi Chemical


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Copyright © Thomson Reuters 2013. All rights reserved.
2013-02-27 02:34:28 -

Tessenderlo  Group (NYSE Euronext: TESB) announced today that it has received an
offer  for  its  Compounds  activities  from  Mitsubishi Chemical Corporation, a
global  industrial  company  already  present  in  the  compounds  industry. The
intended  sale comprises four  production sites in  France, Poland and China and
one R&D site in Belgium.

The  employee representatives of  the companies making  up the group's Compounds
business   unit  have  been  informed  that  the  information  and  consultation
procedures  will be  launched.  This  transaction is  subject to  merger control
approval.

This  divestment  project  is  in  line 
with the group's strengthened focus on specialty products and services in the areas of food, agriculture, water management and valorizing bio-residuals. Tessenderlo Group's Compounds business unit has nearly 50 years' experience and extensive know-how in formulation and production of thermoplastics, making it market leader in this sector. Its range of thermoplastic elastomers (TPE) and PVCs has been specially formulated to provide original solutions for applications in the building, automotive, cabling and many other areas.  The activities in scope of this project employ about 360 employees, and generated revenue of 120 million EUR in 2011. Tessenderlo Group is a worldwide specialty company, focused on food, agriculture, water management and on valorizing bio-residuals. The group employs about 7,500 people and is a leader in most of its markets, with a consolidated revenue of 2.1 billion EUR in 2011.  Tessenderlo Chemie NV is listed on NYSE Eurolist by Euronext Brussels and is part of Next 150 and BEL Mid indices. Financial News wires: Bloomberg: TESB BB - Reuters: TesBt.BR - Datastream: B:Tes Mitsubishi Chemical Corporation is Japan's leading chemical company with chemistry-based technology platforms for the development of a wide range of technologies and products in the fields of performance products, healthcare, and industrial materials. The Group employs more than 27,000 employees and posted net sales of about 2.1 trillion JPY in fiscal year ended March 2012. Mitsubishi Chemical Corporation is one of four core operating companies of the Mitsubishi Chemical Holdings (MCHC) Group. The Group employs more than 53,000 people, with a consolidated revenue of about 3.2 trillion JPY, and is listed on TSE. Media Relations Investor Relations Kathleen IWENS Philip LUDWIG Tel: +32 (0) 478 664 555 Tel: +32 2 639 16 58 This press release is available in Dutch, French and English at www.tessenderlogroup.com - 'News & Media' Pour lire le communiqué de presse complet en Français, cliquez ici: hugin.info/133974/R/1681165/549476.pdf To read the full press release in English, click here: hugin.info/133974/R/1681165/549474.pdf Hier kan je het volledige bericht in het Nederlands lezen: hugin.info/133974/R/1681165/549475.pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Tessenderlo Group via Thomson Reuters ONE [HUG#1681165]


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