 |
 |
||||||
[October 2008]
Proposed Sale of Cookson's Hi-Tech Ceramic Filters Business
Cookson Group plc has entered into a conditional agreement to sell its Hi-Tech Ceramics filters business to Süd-Chemie AG. The Hi-Tech business had revenues of approximately £5 million and trading profits of approximately £1 million in the six month period to 30 June 2008. Completion of the transaction is conditional, amongst other things, on obtaining regulatory approval from the European Commission. The transaction is expected to complete by the end of this year.
www.cooksongroup.co.uk
As a condition of the EU and US competition authorities’ approvals of the acquisition of Foseco plc 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 completion of the disposal of Hi-Tech, all anti-trust conditions relating to the Foseco acquisition will have been satisfied.
ENDS