Croda International PLC
28 September 2007
28 September 2007
Croda International Plc
Sale of Klang Oleochemicals Business
Croda International Plc announces that it has sold its Klang Site and associated
business in Malaysia to Palm-Oleo Sdn. Bhd, a subsidiary of the KLK Group (Kuala
Lumpur Kepong Berhad), for £9.8m payable in cash at completion.
The Klang Site produces Fatty Acids, Glycerine, Fatty Acid Esters, and Soap and
has operated as part of Croda's Uniqema Oleochemicals division. Croda acquired
the Klang site as part of the Uniqema acquisition from Imperial Chemical
Industries PLC in September 2006. On a pro-forma basis the business had sales of
£28.2m and made a small operating loss in 2006.
Dresdner Kleinwort acted as financial adviser to Croda on this transaction.
For further information, please contact:
Sean Christie, Group Finance Director Tel: 01405 860551
Charlie Watenphul, Financial Dynamics Tel: 0207 831 3113
This announcement is made by Croda and is the sole responsibility of Croda.
Croda is exclusively responsible for the contents of this announcement and
neither Dresdner Kleinwort Limited nor any person acting on Croda's behalf are
responsible for or shall have any liability for any information, representation
or statement relating to Croda contained in this announcement or any information
previously published by or on behalf of Croda or otherwise.
Dresdner Kleinwort Limited, which is authorised and regulated by the Financial
Services Authority, is acting for Croda and for no-one else in connection with
the contents of this announcement and will not be responsible to anyone other
than Croda for providing the protections afforded to customers of Dresdner
Kleinwort Limited or for affording advice in relation to the contents of this
announcement or any matters referred to herein.
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