Atofina to sell bromochemicals business to Albemarle
Atofina, the chemicals branch of the Total Group, has reached a framework agreement for the sale of its bromochemicals business to US-based Albemarle. The deal includes the Port-de-Bouc site at Bouches-du-Rhone in France, together with the activity\'s goodwill, technology and intellectual property.
Atofina, the chemicals branch of the Total Group, has reached a framework agreement for the sale of its bromochemicals business to US-based Albemarle. The deal includes the Port-de-Bouc site at Bouches-du-Rhone in France, together with the activity's goodwill, technology and intellectual property.
The business represents a marginal market share for Atofina as well as very few synergies with its other operations, the company says. Bromine and fine organic bromine derivatives are used primarily in the pharmaceutical, aroma, ink and varnish and agrochemical sectors. The business was worth €25m in 2002.
Albemarle is a world leader in bromochemicals and the deal, which is subject to approval by the relevant authorities, is expected to give it a new growth opportunity in the sector by complementing its industrial facilities, its product range and its technological know-how.