5th Jan 2009 13:50
5 January 2009
SALE OF COOKSON'S HI-TECH CERAMIC FILTERS BUSINESS TO SATISFY FOSECO ANTI-TRUST REQUIREMENTS
Cookson Group plc ("Cookson"), a leading materials science company, announces that on 23 December 2008 it completed the disposal of its Hi-Tech Ceramic filters business ("Hi-Tech") to companies owned by Süd-Chemie AG ("Süd-Chemie").
As a condition of the EU and US competition authorities' approvals of the acquisition of Foseco plc ("Foseco") on 4 April 2008, Cookson made a commitment to sell Foseco's Carbon Bonded Ceramics business ("CBC"). CBC was sold to RHI AG on 16 April 2008. As a further condition of the European Commission's anti-trust approval of the acquisition of Foseco, Cookson made a commitment to sell Hi-Tech.
On 20 October 2008, it was announced that an agreement had been entered into to sell Hi-Tech to Süd-Chemie, conditional, amongst other things, on obtaining regulatory approval from the European Commission. Following confirmation of approval from the European Commission, the divestment was completed and, as a result, all anti-trust conditions relating to the Foseco acquisition have now been satisfied.
The Hi-Tech business had revenue of approximately £5 million and trading profit of approximately £1 million in the six month period to 30 June 2008.
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For further information please contact
Shareholder/analyst enquiries: Cookson Group plc
Anna Hartropp, Investor Relations Manager Tel: +44 (0)20 7822 0000
Media enquiries: Hogarth Partnership John Olsen Tel: +44 (0)20 7357 9477
About Cookson Group plc
Cookson Group plc is a leading materials science company operating on a worldwide basis in Ceramics, Electronics and Precious Metals markets.
The Ceramics division is the world leader in the supply of advanced flow control refractory products and systems to the global steel industry and a leading supplier of specialist ceramics products to the glass, solar and foundry industries. It is also the regional leader in the US, UK and Australia in the supply and installation of monolithic refractory linings.
The Electronics division is a leading supplier of advanced surface treatment and plating chemicals and assembly materials to the automotive, industrial, construction and electronics markets.
The Precious Metals division is a leading supplier of fabricated precious metals (primarily gold, silver and platinum) to the jewellery industry in the US, the UK, France and Spain. Products include alloy materials, semi-finished jewellery components and finished jewellery.
Cookson Group plc, 165 Fleet Street, London EC4A 2AE
Registered in England and Wales No. 251977
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