|
Sasol plans to divest its O&S business. Sale would exclude the businesss polyethylene co-monomers activities in South Africa. Germany based Condea was acquired by Sasol
For $1.5 billion .A smaller part of Condea was folded into Sasol Solvents,a global solvents business that will be retained by Sasol.First half of the fiscal 2005 ,the O&S division showed an operating loss of $ 20 million on sales of $1.37 billion .The division accounts for 26% of Sasols overall sales. Trevor Munday ,deputy chief executive of Sasol said that"Since the acquisition ,substantial success has been achieved in reducing costs and improving the productivity at Sasol O&S.Sasol has decided to globally expand its gas-to- liquids technology, building on its historic strengths in Fischer-Tropsch chemistry.Proceeds from the surfactants sale will help fund this effort. Sasol has already received offers from the business according to Munday. As adviser on the sale Sasol has already appointed Deutsche Bank.
|
|
|
|
|
| Posted : 10/1/2005 |
|
|
|
|
