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Cognis sells Oleochemicals biz

This article was originally published in The Rose Sheet

Executive Summary

Specialty chemicals supplier Cognis has sold its 50% stake in the Cognis Oleochemical business to Thai chemical producer PTT Chemical Public Company Limited for $163 mil., firm reports. Deal is expected to close by end of the year. The business, which will be operated under its current name until a new one is chosen, remains half-owned by Malaysian firm Sime Darby Plantation and continues to make oleochemical products including palm oil, glycerine, fatty acids and other ingredients for personal care and other applications. "We share a vision of Cognis Oleochemicals becoming the global leader in value-added and diversified oleochemicals through a long-term commitment to invest in growth and a renewed focus on customer needs, market driven R&D, and innovation," PTT Chemical President and CEO Aditheb Bisalbutr says...
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