Imperial sells chemical service provider Schirm
Imperial Logistics is selling the chemical service provider Schirm to the South African chemicals group AECI. The purchase sum is around EUR 110.5 million. The competition authorities in Germany and South African still have to approve the deal.
Mark Lamberti, CEO of Imperial Holdings, says: "The high degree of specialisation and the capital intensity of contract manufacturing for the chemical industry don’t match our goal of reducing capital intensity. There aren’t any operative or financial synergies between contract manufacturing for the chemical industry and the other activities performed by Imperial Logistics either."
A separate agreement allows for AECI to rent four warehouses that are adjacent to the Schirm production site at Schönebeck (Elbe) in Germany. After the agreement is signed, ECI has a one-year option of purchasing these warehouses for a maximum additional sum of EUR 9 million.
Lamberti added: “As a result, Imperial Logistics will continue to provide warehousing, transport and distribution solutions for Schirm and consolidate the partnership with AECI.” (mw)