Cognis To Sell Pulcra Chemicals Business

Germany-based Cognis Deutschland GmbH & Co. KG — a global supplier of specialty chemicals and nutritional ingredients — has agreed to sell its Pulcra Chemicals GmbH subsidiary to Germany-based Fashion Chemicals GmbH & Co. KG. The sale is part of Cognis’ strategy to emphasize its wellness and sustainability trends-driven core businesses.

Cognis spun off Pulcra Chemicals — formerly its Process Chemicals Strategic business unit — as an independent company in July 2007 in a move to improve competitiveness as well as product and service quality. Pulcra manufactures process chemicals for the textile and leather industries; and has production facilities and service centers in Brazil, China, Germany, India, Indonesia, Italy, Mexico, Spain, Turkey and the United States. The company realized sales totaling 246 million euros in 2007.

Fashion Chemicals is an investor funded primarily by Turkey-based DSD Deri San. DS Tic. A.S., a company with stakeholders in the leather goods industry. The transaction is expected to be completed in October 2008.

July 15, 2008