Under the terms of the agreement, the buyers will take over the production units of Methylamines & Derivatives of UCB in Belgium (Ghent/Wondelgem), Germany (Leuna) and China (Fengxian), as well as the related commercial organization throughout the world.
Faithful to its strategic will to continue to develop specialty chemicals, in which it may claim a world leadership, the UCB Group had expressed its wish to find a way to disinvest in the field of Methylamines & Derivatives. On their side, the buyers have confirmed to UCB that they will further develop the business with the active participation of the personnel and management team already in place.
The production sites and the commercial organization which constitute the Methylamines & Derivatives activities employ around 520 people and generated a turnover of € 187 million in 2001.
The specialities of UCB's Chemical Sector employ about 1,200 people and should reach a turnover of € 500 million at the end of 2002. This figure is essentially due to Radcure resins curable by UV/EBC beam and Crylcoat polyester resins for solvent free powder paints, as well as resins used mainly in pressure-sensitive adhesives.