Lonza sells Singapore PIA plant to Perstorp
Lonza Group, Basel, Switzerland, announces the signing of an agreement to sell 100 % of the shares of Lonza Singapore Pte Ltd. to Perstorp Group, Perstorp, Sweden, for USD 138 million.
This transaction is another step in Lonza’s strategy to focus on its life science operations, following the transformational changes to its portfolio implemented over the last year. Over 90 % of Lonza’s sales now relate directly to the life sciences.
At closing, Perstorp will assume full ownership of the business and all related assets through a wholly owned subsidiary. The transaction is contingent upon certain customary regulatory approvals and closing is expected before the end of the year.
Based on Jurong Island, Singapore, Lonza Singapore is a manufacturer and marketer of Purified Isophthalic Acid (PIA), used as a key ingredient in the manufacturing of PET bottle-grade resins, unsaturated polyester resins and performance coatings.