Selling fat to Malaysia
2 Sep 2002
Unilever is to sell its speciality oils and fats business, Loders Croklaan Group to IOI Corporation of Malaysia for 217 million Euros in cash.
Loders Croklaan has factories in Wormerveer, near Amsterdam, and in Channahon, near Chicago, IL, with smaller plants in Toronto and Cairo and sales offices in a further seven countries.
The business employs some 600 people and had sales of 267 million Euros in 2001. Loders Croklaan will continue to supply Unilever with specialty products.
IOI Corporation is one of the largest listed companies in Malaysia, with interests in plantations, refinery, oleochemicals and property development.
The sale is part of Unilever's strategy to focus on its core food, home and personal care activities.
