Cognis Sells UV Acrylates Business to IGM Resins

Global specialty chemicals supplier Cognis has signed an agreement that it intends to sell its UV acrylates business to IGM Resins, based in Waalwijk, The Netherlands. The UV acrylates business is part of Cognis' Functional Products strategic business unit. The sale is expected to be formally completed by June 2010.

The UV acrylates business 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 manufacturing site in the U.S. The manufacturing employees at this site will be transferred to the new owner, as well as several business related employees in the US, France and Asia. The sale is in line with Cognis' strategy to focus on its core businesses and product groups supporting the wellness and sustainability trends.