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Article: Mg Technologies puts trading and distribution arm up for sale. (Europe/Mideast).(Solvadis)(Brief Article)(Statistical Data Included)
- Article from:
- Chemical Week
- Article date:
- May 22, 2002
- Author:
CopyrightCOPYRIGHT 2002 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mg Technologies (Frankfurt) has put Solvadis, its [euro]1.4-billion ($1.3 billion)/year chemical trading and distribution business, up for sale. Mg says it will use proceeds from the divestment to expand Dynamit Nobel, its specialty chemicals subsidiary, partly via acquisition.
Mg says Solvadis is a relatively small, low-margin business. "Solvadis has a number of synergies with Dynamit Nobel, but it does not really fit with our concept of ourselves as a technology group," says Mg CEO Kajo Neukirchen. "Our profitability requirements are tailored to our technology-based businesses, and those requirements can be applied to Solvadis only to a limited extent." ...