LONDON--(BUSINESS WIRE)--The Valence Group has acted as M&A advisor to Tessenderlo Group on the intended sale of its Compounds activities to Mitsubishi Chemicals Corporation. Terms of the transaction were not disclosed.
Tessenderlo’s Compounds business unit employs 360 people and focuses on the formulation and production of thermoplastic elastomers (TPE) and PVC compounds for the building, automotive, cabling, manufacturing and footwear industries. The sale comprises four production sites in France, Poland and China, and an R&D site in Belgium.
Tessenderlo Group is a worldwide specialty chemicals company, focused on food, agriculture, water management and the valorization of bio-residuals. The group employs about 7,500 people and is a leader in most of its markets, with consolidated 2011 revenue of €2.1 billion. Tessenderlo Chemie NV is listed on NYSE Eurolist by Euronext Brussels and is part of Next 150 and BEL Mid indices.
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