Avecia has signed an agreement to sell its specialty additives business to The Lubrizol Corp. for an undisclosed sum. Avecia’s additives business has annual sales of approximately b30 million.
A manufacturing facility at Huddersfield, UK is included in the sale. Other manufacturing facilities at Grangemouth, Scotland will continue to be operated by Avecia under a long-term supply agreement. Approximately 110 employees will transfer to Lubrizol upon completion of the sale, including commercial staff in Europe, Asia and North America