Croda buys Uniqema

7 September 2006

Croda International plc has completed the acquisition of Uniqema, a division of Imperial Chemical Industries plc for a total consideration of £410 million on a cash and debt free basis. Croda is paying ICI £370 million in cash and will assume £40 million of unfunded post-retirement benefit liabilities. Uniqema is a global manufacturer and supplier of base oleochemicals and specialities used as additives in a wide variety of markets.

According to Croda, the acquisition fulfils a long term strategic goal for the company, providing an enhanced global platform from which to pursue future growth opportunities. Croda adds that the move strengthens its position as a leading global oleochemical specialities manufacturer, as well as bringing complementary products and technologies. It also strengthens Croda’s presence in key growth markets, such as India. There are likely significant synergies, says the company.