Rhodia sells Latexia stake to Raisio. (News).(Raisio Chemicals)(Brief Article)

Chemical Market Reporter, March, 2002

AS PART OF its strategy to divest noncore assets, Rhodia has signed a letter of intent to sell its 50 percent stake in Latexia to Finnish partner Raisio Chemicals. Latexia, which had sales of [euro]200 million ($177 million) last year, produces and markets latex for the paper industry. Rhodia says the deal also includes paper latex production assets in France, Spain, Indonesia and China, that were not previously integrated when the joint venture was created in 2000.

Rhodia will continue to focus on developing its performance latex products for the decorative paints and construction materials markets. Performance latexes had sales of roughly [euro]180 million last year. Raisio says the acquisition of the remaining half of Latexia will significantly...

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