Thermphos Acquires Dequest® Phosphonates Business
VLISSINGEN – May 31st, 2007 – On behalf of the Management Board we announce that Thermphos Trading GmbH purchased Solutia’s 100 million US$ Dequest® phosphonates business. After this acquisition the Thermphos group generates 750 million US$ turnover.
Dequest http://www.dequest.com is the world market leader in phosphonates. They are used as additives in water processing, including industrial water treatment, household and industrial detergents, industrial cleaners, enhanced oil recovery operations and various industrial processes such as desalination and pulp production.
Under the terms of the agreement, Thermphos will purchase the assets of the Dequest business. The principal production location is in Newport, Wales, UK.
Thermphos will take over approximately 30 people in 11 countries (a.o. USA and Belgium). The agreement also provides for the parties to enter into an operating agreement under which Solutia will continue to produce Dequest products for Thermphos in Newport.
Furthermore, Thermphos established new entities in USA, Belgium, Switzerland, Japanand Singapore. Sales of the Dequest products in South America and China will be done by the existing Thermphos companies in those regions.
The business will be carried out as a dedicated Business Line.
This acquisition is completely in line with Thermphos’ strategy of growth by forward integration.
For additional information please contact:
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Mr. Henk Capello
Member of the Board
Tel: +31 113 689 515 |
Mr. Hans Deger
BU I Director
Tel: +31 113 689 520 |