3rd Mar 2008 07:00
Croda International PLC03 March 2008 3 March 2008 Croda International Plc Sale of minority interest in Baxenden Chemicals Ltd Continuing the strategy of focusing on its core businesses, Croda InternationalPlc announces the sale of its 46.5% interest in Baxenden Chemicals Ltd toChemtura Corporation, the majority shareholder, for a cash consideration of£13m. Baxenden, a leading manufacturer in the specialist polyurethane industry, waspart of Croda's Industrial Specialities division. The business contributed £1.1mto Group profit before tax in the year to 31 December 2007 and had a carryingvalue of £9.2m at the end of the year. The proceeds of the transaction will be used to reduce Group borrowings. For further information: Sean Christie, Finance Director Tel: 01405 860 551Charlie Armitstead, Financial Dynamics Tel: 020 7269 7275 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Croda International