Under the terms of the agreement, Thermphos Trading GmbH has purchased the assets and assumed certain of the liabilities of the Dequest business for $67 million in cash, subject to a working capital adjustment.The parties have also entered into a lease and operating agreement under which Solutia will continue to operate the Dequest production facility for Thermphos at Solutia's plant in Newport, Wales, U.K.
Dequest http://www.dequest.com is the world leader in phosphonates, which are used as additives in water processing across a broad spectrum of markets, including industrial water treatment, household and industrial detergents, industrial cleaners, enhanced oil recovery operations, and various industrial processes such as desalination and pulp production. In 2006, sales for the Dequest business accounted for less than 4 percent of the total sales of Solutia Inc.
Thermphos International http://www.thermphos.com is a world leader in the production and sale of phosphorus, phosphoric acid, phosphorus derivates and phosphates.
Thermphos contributes toward the quality of life by offering high-quality products for applications in pharmaceuticals, personal hygiene, industrial and household cleaning and food additives. All are produced in a sustainable and responsible manner. Thermphos employs approximately 1,150 people world-wide with locations in the Netherlands, Germany, Switzerland, France, England Argentina and China.