Cognis Sells Pulcra Chemicals Business
September 1, 2008
MONHEIM, Germany – Specialty chemicals supplier Cognis has signed an agreement to sell its Pulcra Chemicals subsidiary to Germany-based Fashion Chemicals GmbH & Co. KG (Fashion Chemicals) for €26.3 million. Fashion Chemicals is backed mainly by DSD Deri Sanayicileri Dis Ticaret A.S. (DSD), based in Istanbul, Turkey. The transaction is expected to be completed by the end of October 2008.
Pulcra Chemicals, which supplies process chemicals to the textile and leather industries, was previously the Process Chemicals strategic business unit (SBU) of Cognis. The SBU was carved out into separate legal entities and renamed Pulcra Chemicals.