In a deal tentatively set to close at the end of June, speciality chemicals producer Cognis (NL-2130 AH Hoofddorp; www.cognis.com), formerly part of German consumer chemicals group Henkel, is selling its EUR 40m PVC stabilisers business to a consortium of Reagens (I-40016 S. Giorgio di Piano; www.reagens.it) and Sun Ace Kakoh (SGP-Singapore 609030; www.sunace.com.sg). The business, based mostly in Germany, will be renamed Reagens Deutschland GmbH. The two buyers, both leading players in PVC stabilisers, are “long-term strategic partners,” said Cognis CEO Antonio Trius. He said the products do not match the company´s oleochemicals focus.

Building on Cognis´ leadership in areas such as non-toxic calcium/zinc stabilizers, Reagens and Sun Ace will be able to extend their existing technological expertise and product range and strengthen their market presence in Germany as well as northern and eastern Europe. Some 160 staff at the Lohne and Loxstedt production sites in Germany, in the Düsseldorf sales office and a production site in Hong Kong will be affected by the move. Most of the staff will either be taken on by the new owners or will continue to be employed by Cognis.