UK chemical giant ICI, London, has sold its advanced composites business to a joint venture of US aerospace group Carllsle Enterprises and DLJ Merchant Banking Inc. The ICI business, which operates under the names ICI Composites Inc. and Fiberite Europe GmbH, has five production sites in the US and one at Östringen, Germany, along with a sales office at Mönchengladbach. ICI Composites and Fiberite manufacture and market continuous fibre-reinforced thermoset and thermoplastic advanced composites for the aerospace and sporting goods sectors. According to ICI, these are no longer core activities. The sell-off will mark the UK group's exit from the advanced materials sector. The DLJ-Carlisle joint venture plans to continue operating the business as a 100% subsidiary, in its current form. The deal is expected to be completed in Q4.