StockMarketWire.com - Elementis has agreed to sell its surfactants business located in Delden, The Netherlands to Kolb Distribution AG for a cash consideration of €39m, subject to working capital adjustments.

Elementis said completion of the sale was expected in the first half 2018 and proceeds would be used for general corporate purposes and towards debt reduction.

As previously announced, after a strategic review the company decided that surfactants did not fit with the Elementis reignite growth strategy, due to a lack of scale and material capital requirements, and a third party would be best positioned to develop the business.


At 8:01am: [LON:ELM] Elementis PLC share price was +1.05p at 277.95p



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