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August 6, 2008
By: TOM BRANNA
Specialty chemicals supplier Cognis has signed an agreement to sell its Pulcra Chemicals subsidiary to Germany-based Fashion Chemicals GmbH & Co. KG for $42 million. According to the company, the sale is in line with Cognis’ strategy of focusing on its core businesses driven by wellness and sustainability trends. Fashion Chemicals additionally took over $24 million of financial liabilities, including debts and pensions. The final transaction is expected to be complete by the end of October 2008.
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