Cognis takes chemicals from Degussa

International specialty chemicals vendor Cognis has signed a contract to acquire Laporte Performance Chemicals, a subsidiary of the former Laporte plc, which belongs to Degussa AG.

The deal includes two production and development sites in the UK as well as several distribution companies.

A total workforce of 220 are employed at the company, which generated sales totalling £64 million (approximately 95 million Euros) in 2001.

In the UK, Laporte Performance Chemicals manufactures components for environmentally friendly paint systems, i.e. high-performance automotive paints (hydroxy monomers), as well as synthetic lubricants (polyalkylene glycols).

In addition, the company manufactures multifunctional monomers based on acrylates for coatings as well as rubber chemicals and plastic additives based on esters.

Cognis is financing the acquisition without raising any additional debt.