Lonza Group and Monument Chemical has announced the completion of the sale of Lonza Group's Performance Urethanes and Organics business located in Brandenburg, Kentucky.
The transaction was announced in November 2012. Financial terms are not being disclosed.
This sale enables Lonza to focus on more core activities and helps fulfill a strategic growth area for Monument Chemical.
As part of the Arch Chemicals Inc. acquisition in October, 2011 Lonza considered the divestiture of certain Arch business and assets. A formal divestiture process for Brandenburg was initiated in July of 2012. The Arch Performance Urethanes and Organics Business has been a leading supplier of specialty urethane and organic chemicals for over 40 years, developing and manufacturing products used in applications including products for coatings, adhesives, sealants and elastomers ("CASE"), flexible and rigid foams, coolants and solvents. The business also supplies polyols, glycols and glycol ethers for such industrial applications as coolants, solvents and food additives.