By Joe Hoppe
Elementis PLC mentioned Wednesday that it has agreed to promote its Chromium enterprise to Yildirim Group for an enterprise worth of $170 million, with whole pretax money proceeds anticipated to be round $119 million.
The London-based specialty chemical compounds firm mentioned the sale, anticipated to finish earlier than the top of the primary quarter of 2023, follows the strategic evaluate of the Chromium enterprise introduced final April.
“Following the sale of the Chromium enterprise, Elementis will proceed to implement its technique constructed on innovation, development and effectivity, with a portfolio now absolutely centered on premium specialty merchandise,” the corporate mentioned.
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