CSM Sells Gluconates Plant to Avebe
The transaction comprises the transfer of all 68 employees. The transaction does not comprise the marketing and sales activities for gluconic acid and gluconates, which activities will be continued by PURAC.
10/10/08 CSM has announced the completion of the sale of the small scale gluconic acid and gluconates production plant of its subsidiary PURAC biochem in Ter Apelkanaal, the Netherlands to AVEBE. The transaction is effective per October 1, 2008.
The transaction comprises the transfer of all 68 employees. The transaction does not comprise the marketing and sales activities for gluconic acid and gluconates, which activities will be continued by PURAC.
The agreement also includes a tolling contract. AVEBE will continue to operate the gluconic acid and gluconates production plant exclusively for PURAC.
The sale of the production plant in Ter Apelkanaal, which was announced in July 2008, is part of the strategic restructuring of PURAC’s manufacturing footprint, announced in September 2007.
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