TotalFinaElf sells its oleochemicals
27 Nov 2000
The Chemical branch of TotalFinaElf and a group of Belgian financial investors led by Ackermans van Haaren have signed an agreement for the sale of the Oleochemicals business unit incorporated within the structure of Fina Oleochemicals NV.
The agreement is subject to approval by the European Commission.
The Oleochemicals activities comprise two production sites in Belgium - Oelegem and Ertvelde-, Research and Development functions, a Marketing & Sales Department, and Head Office.
The company employs 350 people in Production, Research and Development, and Sales. Its management team will remain unchanged.
The business unit produces and sells over 270,000 tonnes of oleochemicals under the trade name Radia, including fatty acids, fatty alcohols, glycerine, as well as fatty esters and stearates, most of which are used in the manufacture of soap, detergents, and softeners. These activities stand in third place in the European market.
On completion of the sale, Fina Oleochemicals NV will become Oleon NV Oleon NV will focus on consolidating and strengthening its relationship with all its stakeholders.
