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Tessenderlo Group sells its OCD activity in Italy


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Copyright © Thomson Reuters 2013. All rights reserved.
2013-05-06 07:02:03 -

Tessenderlo  Group  (NYSE  Euronext:  TESB)  announced  today  that  it has sold
Tessenderlo Partecipazioni S.p.A including its subsidiary Tessenderlo Italia Srl
to  International Chemical Investors Group  (ICIG), a private industrial holding
company.   The sale concerns one production site in Pieve Vergonte (Italy), with
an   electrolysis  and  chloro-aromatics  plant  and  two  hydro-electric  power
stations. Tessenderlo Italia employs a total of 113 people.

The  employees  of  the  Pieve  Vergonte  site  have  been informed that a share
purchase  agreement was closed with ICIG,  a company that focuses exclusively on
chemical and pharmaceutical activities. The transaction has been approved by all
relevant authorities.

This 
divestment is in line with Tessenderlo Group's strengthened focus on specialty products and services in the areas of food, agriculture, water management and valorizing bio-residuals. ICIG Group owns four other production sites in Italy, and is a natural owner of these activities, having been a significant customer for Tessenderlo Italia's organic products for several years. Becoming the new owner of Tessenderlo Italia will allow for industrial complementarity and synergies and thus enhances the industrial competitiveness of the Pieve Vergonte plant. Achim Riemann, Managing Director of ICIG, states:  "The upstream integration of Tessenderlo Italia, with direct energy supply via its own hydro-electric power stations, is fundamental for the competiveness of the factory in Pieve Vergonte and therefore we want to maintain this integration and  have both hydro concessions renewed for the long term. " Tessenderlo Italia srl is a preferred supplier of aromatic  chlorine  products and specialty dichlorotoluenes , mainly used in the agricultural and pharmaceutical markets.  Tessenderlo Italia also owns two hydro-electric power stations that supply electricity to the Pieve Vergonte plant. Tessenderlo Italia's revenue amounted to 30 million euro in 2012. Tessenderlo Group is a worldwide specialty company, focused on food, agriculture, water management and on valorizing bio-residuals. The group employs about 7,000 people and is a leader in most of its markets, with a consolidated revenue of 2.1 billion EUR in 2012.  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 International Chemical Investors Group (ICIG) is a privately owned industrial holding company focusing on mid-sized chemicals and pharmaceutical businesses. Since inception in 2004, ICIG has acquired 19 businesses, all of which have origins in major global chemical or pharmaceutical corporations and are independently managed. ICIG companies currently employ more than 3,500 people and operate 19 manufacturing facilities in Europe and the United States with total sales of approximately €780 million. For more info about International Chemical Investors Group: www.ic-investors.com Media Relations Investor Relations Kathleen IWENS Philip LUDWIG +32 (0) 478 664 555 +32 (0)2 639 16 58 This press release is available in Dutch, French and English on www.tessenderlogroup.com  - under 'News & Media' Pour lire le communiqué de presse complet en Français, cliquez ici: hugin.info/133974/R/1699365/560526.pdf To read the full press release in English, click here: hugin.info/133974/R/1699365/560524.pdf Hier kan je het volledige bericht in het Nederlands lezen: hugin.info/133974/R/1699365/560525.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#1699365]


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