Emery Oleochemicals signs Asset Purchase Agreement of its fatty acid business in Düsseldorf to Kuala Lumpur Kepong Berhad
27 May, 2015 - Emery Oleochemicals today signed the Asset Purchase Agreement (APA) of its fatty acid business in Düsseldorf, Germany to Malaysia-based Kuala Lumpur Kepong Berhad (KLK). The APA is expected to close by end of third quarter of this year, subject to both parties obtaining all relevant shareholder and regulatory approvals.
This divestment is consistent with Emery Oleochemicals’ focus on building its specialty chemicals business where the company is able to leverage proprietary technology, deepen competency and understanding of key markets and applications.
Emery Oleochemicals will maintain its presence in Europe and continue to invest in its Technical Development Centre and manufacturing facility in Loxstedt, Germany. In addition, Emery Oleochemicals will continue to support and grow its existing Green Polymer Additives and Bio-Lubricants business in Europe to serve its increasing customer base.