26th Oct 2018 07:47
LONDON (Alliance News) - Croda International PLC on Friday said it has changed some of its plans for newly-acquired Plant Impact PLC, specifically in Brazil.
Croda bought former AIM member Plant Impact in February for GBP10.0 million in cash.
Chemicals firm Croda said after a review, it is to change some of its stated intentions for Plant Impact, though they will have "no impact on existing business, customer service levels, or Croda's fundamental rationale for the acquisition".
The specific changes are in Brazil. Croda is to reconfigure the sales force in Brazil with a redundancy programme, after which Plant Impact's Brazilian team will operate from Croda's local office. Overall, nine roles are part of the changes.
Croda "remains positive" about Plant Impact's prospects, it concluded.
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