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Corbion N.V. — M&A Activity 2007
Jul 2, 2007
3826_iss_2007-07-02_14e0a60f-b2c2-4f60-98d4-9646946eff9f.pdf
M&A Activity
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CSM nv Corporate Communications
P.O. Box 349 1000 AH Amsterdam The Netherlands
Nienoord 13 1112 XE Diemen
T +31 (0)20 590 62 16 F +31 (0)20 590 62 17 E [email protected]
Press Release
CSM SELLS ITS GLUCONIC ACID BUSINESS IN THE USA
Diemen, the Netherlands, July 2, 2007 – CSM announces that it has sold the customer base for its small-scale gluconic acid business (gluconic acid, sodium gluconate, and glucona delta lactone) of its subsidiary PURAC America in the USA to Fuso Chemical. The transaction is effective per June 29, 2007.
Sales in 2006 amounted to approximately USD 5.7 million. The selling price excluding inventories amounts to approx. USD 2.5 million. The transaction does not comprise the transfer of the 19 employees nor the transfer of the factory of PURAC America in Janesville, Wisconsin. The Janesville factory will be closed down in the short term.
Fuso is a company based in Japan, the USA and China and a leading producer of malic acid, citric acid, gluconic acid, and sodium gluconate.
----------------------------------------------------------------------------------------------------------------------- For more information, please contact:
Press: Corporate Communications, tel. +31 (0)20 5906216
Analysts: Ian Blackford, Investor Relations Manager, tel. +31 (0)20 5906349 / cell phone +44 (0)7767 227506
Background information:
CSM nv is a global producer and distributor of bakery products and food ingredients. CSM's main product groups are bakery ingredients and products, lactic acid, and lactic acid derivatives. With these activities CSM generates annual sales of EUR 2.4 billion; it has a workforce of around 8,200. CSM operates in Europe, North America, Brazil, and Asia. For more information: www.csm.nl