Elementis sells surfactants unit for €39m

Specialist chemicals firm Elementis said it had agreed to sell its Netherlands surfactants business to Kolb Distribution for €39m in cash.

The deal is expected to go through in the first half 2018. The proceeds will be used for general corporate purposes and towards debt reduction.

In addition to all of the surfactants products, the facility also manufactures a limited range of products sold by Elementis's specialty products segment.

As part of the transaction Elementis said it would enter into a long term supply agreement with Kolb for continued sourcing of products which will modestly impact the specialty products unit's operating margin in 2018.