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The Chemours Company, a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, announced today, September 1, that it has completed the sale of its Clean and Disinfect business – part of its Chemical Solutions segment – to LANXESS for approximately US$230M in cash on August 31, 2016.
"Today’s announcement is another illustration of the successful execution of our five-point transformation plan," said Mark Vergnano, Chemours President and CEO. "In just one year, we completed the sale of our aniline facility, as well as the sale of our Sulfur Products and Clean and Disinfect businesses. These actions have generated approximately US$695M of total gross proceeds, reflecting a 10-12 times EBITDA multiple on those divestitures."
The Clean and Disinfect Business, with approximately US$110M in combined revenue, is a set of leading oxidation chemistry businesses focused on providing innovative cleaning and disinfection solutions for a wide range of industrial, consumer, animal and human health applications. The product portfolio is organised into three primary categories: Disinfectants, Oxone® and Chlorine Dioxide.
