ELM Elementis Plc

 
TIDMELM 
 
20th March 2017 
 
 
Elementis - Sale of US colourants business to Chromaflo 
Elementis plc (ELM.L) ("Elementis"), the Global Specialty Chemicals Company, 
today announces that it has reached an agreement to sell its US colourants 
business to Chromaflo Technologies Corp for an undisclosed cash consideration. 
The transaction is not subject to any regulatory approval and closed 
simultaneously on signing on 17th March 2017. 
 
Following a review of Elementis' operating assets and product portfolio, it was 
decided that the colourants business was non-core and that the optimal course 
of action was divestment of the business and subsequent closure of the Jersey 
City production facility in New Jersey, US, where the products for that 
business are produced. 
 
Commenting on the transaction CEO, Paul Waterman, said: 
"We said at the Capital Markets day in November 2016 that we would focus on 
fewer, more material opportunities to reignite growth at Elementis. The sale of 
our non-core US colourants business and closure of the Jersey City site 
demonstrates that focus and supports our strategy to focus on key growth areas. 
It also represents an important step in our supply chain transformation. The 
Jersey City site will now undergo preparation for closure and we expect it will 
be put up for sale in the future." 
 
ENDS 
Enquiries: 
 
Elementis                       + 44 (0) 207 067 2999 
 
Paul Waterman, CEO 
Ralph Hewins, CFO 
 
FTI Consulting                  + 44 (0) 203 727 1000 
 
Deborah Scott 
 
Matthew Cole 
 
 
 
END 
 

(END) Dow Jones Newswires

March 20, 2017 09:03 ET (13:03 GMT)

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