Cognis and IGM Resins B.V., based in Waalwijk, The Netherlands, announced that the sale of Cognis’ UV acrylates business has now been formally completed.
Following the signing of the sale and purchase agreement in April 2010, and fulfillment of the necessary closing conditions, the sale has now been formally concluded.
The UV acrylates business, which had been part of Cognis’ Functional Products strategic business unit, manufactures and sells monomers and oligomers for UV applications marketed under the Photomer brand name.
The sale of the UV acrylates business includes the Photomer trademarks, intellectual property, inventory and the Charlotte, NC manufacturing site in the U.S. The employees at the Charlotte manufacturing site as well as other employees in the U.S., France and Asia directly related to the business have been transferred to the new owner. The sale is in line with Cognis’ strategy to focus on its core businesses and product groups supporting the wellness and sustainability trends.