- Arkema ( OTCPK:ARKAY ) is looking to divest its phosphorus derivatives business, Febex, to Belgian group Prayon.
- Febex specializes in phosphorus derivatives used primarily in electronics and in the pharmaceuticals industry. The business generated sales of around €30M in 2021, operates one site in Switzerland and employs 59 people.
- The transaction is subject to information and prior consultation process with employee representative bodies in France and to approval by the relevant Swiss authorities. It is expected to be finalized in the first quarter of 2023.
For further details see:
Arkema to divest phosphorus derivatives business