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2008-03-25
Manufacturing News
ARQUES sells chemicals company ARQUES Industries AG has sold another of its subsidiaries, the chemicals company, Oxiris Chemicals SA, Spain, to the Raschig Group, Ludwigshafen.
The transaction volume, involving the sale of the chemicals company Oxiris Chemicals, amounts to EUR 10.5 million. The transaction is subject to the approval of the relevant cartel authorities. With effect May 1, 2007, ARQUES took over the antioxidant business from Degussa for a symbolic price and continued operations under the name of Oxiris. Within the context of the transaction the chemicals company, Raschig, now acquires the ultramodern production location at Sant Celoni near Barcelona. In November 2007 Raschig already took over the phenol antioxidants business at the Ludwigshafen location from Oxiris. Oxiris is a leading manufacturer of antioxidants which are used to protect products against negative influences such as oxidation, embrittlement, gumming, or changes in colour or smell. Raschig is a company with a long tradition situated in Ludwigshafen and operating in the chemicals, synthetics, Raschig Rings and roads segments. Raschig belongs to the USA industrial holding, PMC Global Inc. The buyer offers the employees and management of Oxiris Chemicals S.A. a sound environment with clear future prospects. After the successful sale of the building supplier, Missel, in February 2008, this transaction is already the second exit in 2008. At least four further exits are to follow the Oxiris transaction in the financial year 2008. "The Oxiris sale is further proof of the success of the ARQUES business model. In a very short period ARQUES succeeded in organising the antioxidant business into its own company structure, to develop this structure operationally and turn it into a sellable entity", said Dr. Michael Schumann, chairman of the ARQUES Industries AG executive board. If you're an employer looking to fill a job opening, click here to find out about posting your job listing through Jobwerx.com. See all the Press Releases from ARQUES sites. Read a recent article about -
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