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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