The colorants and pigments business of Metacol (GB-Hull HU2 0JB; www.metacol.co.uk) has been sold in a two-part deal valued at GBP 2.2m (EUR 3.6m). The liquid colouring operations have been bought by ColorMatrix Europe (GB-Merseyside L34 9GT; www.colormatrix.com) for an initial sum of GBP 1.2m (EUR 1.9m), plus a further GBP 350,000 when agreement on net assets is reached, and another GBP 250,000 on 31 May next year. A similar deal has been reached with Vita Thermoplastic Compounds (GB - Manchester M24 2DB; www.britishvita.com) for Metacol´s solid masterbatch business. VTC paid an initial GBP 150,000, plus an additional sum for stock on 22 March, and will pay a further GBP 150,000 dependent on sales over the next six months.

VTC will relocate Metacol´s masterbatch assets, which include four compounding lines, to its Silvergate site in Wrexham, north Wales where they will complement the activities of Silvergate Plastics and Elian SA in France. The liquid colorants business will remain in Hull while ColorMatrix decides how to integrate it with its own operations. It is expected to open up new markets for liquid colours outside ColorMatrix´s core PET activities.