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
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:
To read the full press release in English, click here:
Hier kan je het volledige bericht in het Nederlands lezen:
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Source: Tessenderlo Group via Thomson Reuters ONE