Ceramic Fuel Cells Ltd. (CFU) recently announced that an agreement has been signed with the Materials Business Unit of ICL-PP Europe for the sale of CFU’s powder plant assets in Bromborough, UK, for £ 1,150,000 (~ $2 million). CFU is reportedly no longer using the powder from the plant, due to a change in production process. ICL-PP’s purchase of the powder plant assets arises from an exclusive option granted to it in 2012 to acquire the plant. ICL-PP has exercised its option to purchase the powder plant assets and has agreed to employ all of the powder plant’s current employees.
“The sale of the powder plant assets is another positive step in the reorganization and refocusing of the company on its core competencies,” said Bob Kennett, managing director, CFU. “I am also delighted that all the staff of Ceramic Fuel Cells (Powder) Ltd. will have ongoing employment with ICL-PP Europe.”
For more information, visit www.cfcl.com.au.