Elementis has signed an agreement to sell its Dutch Surfactants business to Kolb Distribution in a €39m deal.
The business comprises the Delden manufacturing facility in the Netherlands and includes 100% of the shares in Elementis Specialties Netherlands.
Elementis plans to use proceeds from the sale for general corporate purposes and towards debt reduction.
The decision to sell the surfactants business follows a strategic review carried out by the company.
As a result of review, the company found that surfactants did not fit with the Elementis Reignite Growth strategy due to a lack of scale, as well as material capital requirements.