Crompton & Knowles to Sell Specialty Ingredients Business.STAMFORD, Conn.--(BUSINESS WIRE)--Dec. 9, 1998--Crompton & Knowles Corporation (NYSE NYSE See: New York Stock Exchange :CNK CNK Crash Nitro Kart (Playstation 2 video game) CNK Coated Natural Kraft (MeadWestvaco paperboard) CNK Compute Node Kernel CNK Cryptonet Key ) announced today that Chr. Hansen Chr. Hansen is a Danish food production company. They sell a wide variety of pharmaceutical grade exipients. The group employs approximately 2,500 employees in more than 30 countries and reported revenue of EUR 521m (DKK 3.77m DKK)in 2005/06. Chr. Holding A/S of Denmark will acquire Ingredient Technology Corporation, the food and pharmaceutical ingredients subsidiary of Crompton & Knowles. The value of the proposed sale is $103 million. It is expected to close in January. "This sale is consistent with our corporate strategy of building value through optimizing our business portfolio," said Vincent A. Calarco, chairman, president and chief executive officer of Crompton & Knowles. "Hansen has a global commitment to the food ingredients business which will make Ingredient Technology an even stronger player in their industry." Hansen, headquartered in Horsholm, Denmark, supplies products to the dairy and food industries. It also produces pharmaceuticals and diagnostics for allergy allergy, hypersensitive reaction of the body tissues of certain individuals to certain substances that, in similar amounts and circumstances, are innocuous to other persons. Allergens, or allergy-causing substances, can be airborne substances (e.g. management. For the fiscal year ended September 30, 1998, Hansen reported sales of approximately $500 million. Crompton & Knowles is a producer and marketer of specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. and equipment. The company reported 1997 sales of $1.85 billion. |
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