Crompton Sells Colors Business to Sensient

Crompton Corporation announced the sale of Crompton’s colors business to Sensient Technologies Corporation, effective Dec. 1, 2001.
    
Crompton will receive $32 million in exchange for the business, its Gibraltar, PA, facility and the assumption of certain liabilities by Sensient. Crompton may receive additional monies if certain performance targets are achieved by the colors business in 2002.
 Crompton’s colors business, which produces dyes for paper, ink-jet printing inks and other industrial applications, has annual revenues of approximately $40 million.
    
The sale is part of Crompton’s ongoing program to divest non-core assets. Proceeds from the sale will be used for debt repayment.