The Chemours Co. (Wilmington, Del.; www.chemours.com) has completed the sale of its Clean and Disinfect business—part of its Chemical Solutions segment—to Lanxess AG (Cologne, Germany; www.lanxess.com) for approximately $230 million in cash on August 31, 2016.
“This announcement is another illustration of the successful execution of our five-point transformation plan,” said Mark Vergnano, Chemours president and CEO. “In just one year, we completed the sale of our aniline facility as well as the sale of our Sulfur Products and Clean and Disinfect businesses. These actions have generated approximately $695 million of total gross proceeds, reflecting a 10-to-12 times EBITDA multiple on those divestitures.”
The Clean and Disinfect Business, with approximately $110 million in combined revenue, is a set of leading oxidation chemistry businesses focused on providing innovative cleaning and disinfection solutions for a wide range of industrial, consumer, animal and human health applications. The product portfolio is organized into three primary categories: Disinfectants, Oxone and Chlorine Dioxide.