Tessenderlo Group (NYSE Euronext: TESB) announced today that it has completed the sale of its Compounds activities to Mitsubishi Chemical Corporation, a global industrial company already present in the compounds industry. The sale comprises four production sites in France, Poland and China and one R&D site in Belgium, employing 360 employees.

On February 27 2013, the group announced its intention to divest its Compounds business unit. Information and consultation procedures were subsequently successfully completed and merger control approval has been given.

This divestment is in line with Tessenderlo Group's strengthened focus on specialty products and services in the areas of food, agriculture, water management and valorizing bio-residuals.

The divested activities produce thermoplastic elastomers (TPE) and PVCs Compounds that are specially formulated for applications in the building, automotive, cabling and many other areas. Its revenue amounted to 124 million EUR in 2012.

Tessenderlo Group is a worldwide specialty company, focused on food, agriculture, water management and on valorizing bio-residuals. The group employs about 7,000 people and is a leader in most of its markets, with a consolidated revenue of 2.1 billion EUR in 2012.  Tessenderlo Chemie NV is listed on NYSE Eurolist by Euronext Brussels and is part of Next 150 and BEL Mid indices. Financial News wires: Bloomberg: TESB BB - Reuters: TesBt.BR - Datastream: B:Tes

Mitsubishi Chemical Corporation is Japan's leading chemical company with chemistry-based technology platforms for the development of a wide range of technologies and products in the fields of performance products, healthcare, and industrial materials. The Group employs more than 27,000 employees and posted net sales of about 2.0 trillion JPY in fiscal year ended March 2013. Mitsubishi Chemical Corporation is one of four core operating companies of the Mitsubishi Chemical Holdings (MCHC) Group. The Group employs more than 55,000 people, with a consolidated revenue of about 3.1 trillion JPY, and is listed on TSE.

Media Relations Investor Relations
Kathleen IWENS Philip LUDWIG
+32 (0) 478 664 555 +32 2 639 16 58


This press release is available in Dutch, French and English at www.tessenderlogroup.com   - 'News & Media' 

To read the full press release in English, click here
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Source: Tessenderlo Group via Thomson Reuters ONE
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