Rhodia and Lyondell sign definitive agreements for the sale of their isocyanates businesses to Perstorp.
Rhodia and Lyondell Chimie TDI SCA announced that they have executed definitive agreements for the sale of their Isocyanates businesses to the Perstorp Group.This divestment includes Rhodia`s aliphatic Isocyanates activity (HDI, IPDI and derivatives) producing a range of intermediates for industrial paints and coatings; and Lyondell`s aromatic isocyanates business (TDI) with the production of intermediates for polyurethane foams, operated under contract by Rhodia.
These activities are essentially based in Pont-de-Claix (France), in Freeport (USA) and together employ around 680 people. The transaction is expected to be completed within a few weeks, once all necessary administrative authorizations and approvals have been obtained.
Rhodia is an international chemical company resolutely committed to sustainable development. Leader in its businesses, the Group aims to improve its customers` performance through the pursuit of operational excellence and its ability to innovate. Now structured around six Enterprises, Rhodia is the partner of major players in the automotive, tire, electronics, perfume, health & beauty and home care markets. The Group employs around 15,500 people worldwide and generated sales of ?5.1 billion in 2007. Rhodia is listed on Euronext Paris.
Lyondell Chimie TDI SCA is a subsidiary of LyondellBasell Industries, LyondellBasell Industries is one of the world`s largest polymers, petrochemicals and fuels companies. We are the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including bio-fuels. Through research and development, LyondellBasell develops innovative materials and technologies that deliver exceptional customer value and products that improve quality of life for people around the world. Headquartered in the Netherlands, LyondellBasell is privately owned by Access Industries.
Created in Sweden in 1881, the Perstorp Group is a front-ranking player in the specialty chemicals industry. The Group is present, in particular, in the markets for Paints & Coatings, Plastics, Agro-food and Lubricants. Perstorp has approximately 1,800 employees on a dozen production sites in Europe, Asia, North and South America and runs 3 Research & Development centers in Sweden, Finland and India. It also owns an American subsidiary specializing in research into, and the production of, components designed for the aerospace industries. The Group generated net sales of ?928m in 2007.
Agreements between Rhodia and Lyondell