13 March 2008
The sale of YLA to TenCate Advanced Composite is now completed, after the final agreement was signed Wednesday 12 March after approval from US Government.
The sale of YLA Inc and its subsidiary CCS Composites LLC to TenCate Advanced Composites USA Inc was announced 23 January 2008 and the divestment is in line with Perstorp’s strategy to focus on and expand its core specialty chemicals business. The acquisition price is US $ 32 million.
“The sale of YLA to TenCate enables Perstorp to focus management time and capital to our core business, specialty chemicals, and is an important step in our strategy. The transaction provides YLA and its employees with an opportunity to develop within a broader based advanced composites manufacturer”, comments Perstorp President and CEO Bo Dankis.