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NEWS

TESSENDERLO FINE CHEMICALS LIMITEDTO TENNANTS CONSOLIDATED LTD
Tessenderlo Grouphas announcedthat it has sold itssubsidiary TessenderloFine ChemicalsLimited to TennantsConsolidated Ltd.The company refersthat the transactionamounted to 17 million pounds (GBP) on acash-free, debt-free basis. Tessenderlo FineChemicals Ltd., to be renamed Tennants FineChemicals Ltd., supplies a range of estersand aroma products to a global customerbase from its production site located inLeek, Staffordshire (United Kingdom), andgenerated a turnover of slightly more than 45million pounds (GBP) in 2010.Frank Coenen, Tessenderlo Group CEO said:“This transaction represents a step forwardin our strategy of reshaping the group’sactivities. The group will continue its focus onspecialty products and services, especiallysustainable products made from by-productsof other industries”.Wim Poot, Tessenderlo Group’s Business UnitDirector OCD added: “TFC Ltd has shownimproved results over the last years. WithTennants, a solid and leading company, webelieve TFC is well-placed to continue thisperformance”.
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