Disposal

RNS Number : 1044L
Cookson Group PLC
05 January 2009
 

5 January 2009


SALE OF COOKSON'S HI-TECH CERAMIC FILTERS BUSINESS TO SATISFY FOSECO ANTI-TRUST REQUIREMENTS


Cookson Group plc ('Cookson'), a leading materials science company, announces that on 23 December 2008 it completed the disposal of its Hi-Tech Ceramic filters business ('Hi-Tech') to companies owned by Süd-Chemie AG ('Süd-Chemie'). 


As a condition of the EU and US competition authorities' approvals of the acquisition of Foseco plc ('Foseco') on 4 April 2008, Cookson made a commitment to sell Foseco's Carbon Bonded Ceramics business ('CBC'). CBC was sold to RHI AG on 16 April 2008. As a further condition of the European Commission's anti-trust approval of the acquisition of Foseco, Cookson made a commitment to sell Hi-Tech. 


On 20 October 2008, it was announced that an agreement had been entered into to sell Hi-Tech to Süd-Chemie, conditional, amongst other things, on obtaining regulatory approval from the European Commission. Following confirmation of approval from the European Commission, the divestment was completed and, as a result, all anti-trust conditions relating to the Foseco acquisition have now been satisfied.


The Hi-Tech business had revenue of approximately £5 million and trading profit of approximately £1 million in the six month period to 30 June 2008.


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For further information please contact

 

Shareholder/analyst enquiries:                          Cookson Group plc

Anna Hartropp, Investor Relations Manager        Tel: +44 (0)20 7822 0000


Media enquiries:                                              Hogarth Partnership
John Olsen
                                                     Tel: +44 (0)20 7357 9477


   

About Cookson Group plc 

Cookson Group plc is a leading materials science company operating on a worldwide basis in Ceramics, Electronics and Precious Metals markets.


The Ceramics division is the world leader in the supply of advanced flow control refractory products and systems to the global steel industry and a leading supplier of specialist ceramics products to the glass, solar and foundry industries. It is also the regional leader in the USUK and Australia in the supply and installation of monolithic refractory linings.

 

The Electronics division is a leading supplier of advanced surface treatment and plating chemicals and assembly materials to the automotive, industrial, construction and electronics markets.


The Precious Metals division is a leading supplier of fabricated precious metals (primarily gold, silver and platinum) to the jewellery industry in the US, the UKFrance and Spain. Products include alloy materials, semi-finished jewellery components and finished jewellery.


Cookson Group plc, 165 Fleet StreetLondon EC4A 2AE

Registered in England and Wales No. 251977


This information is provided by RNS
The company news service from the London Stock Exchange
 
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