Chemicals company Tessenderlo Group has announced that its plans to sell Profialis, its continental European PVC profile business, to investment firm Open Gate Capital, for an undisclosed sum.
Belgium-based company said staff at Los Angeles-based Profialis' production centers in Belgium and France were informed about the deal, said Plastics News.
According to Tessenderlo, the sale is part of a strategy to focus on producing specialty products in the food, agriculture and water management areas.
Source:
http://packagingservices.packaging-business-review.com/news/tessenderlo-group-to-sell-european-pvc-profile-business-310812
