- THE MAGAZINE
Cookson Group plc recently announced that on December 23, 2008, it completed the disposal of its Hi-Tech Ceramic filters business to companies owned by Süd-Chemie AG. As a condition of the EU and U.S. competition authorities’ approvals of the acquisition of Foseco plc on April 4, 2008, Cookson made a commitment to sell Foseco’s Carbon Bonded Ceramics business (CBC). CBC was sold to RHI AG on April 16, 2008. As a further condition of the European Commission’s anti-trust approval of the acquisition of Foseco, Cookson made a commitment to sell Hi-Tech.
On October 20, 2008, it was announced that an agreement had been entered into to sell Hi-Tech to Süd- Chemie, conditional, among other things, on obtaining regulatory approval from the European Commission. Following confirmation of approval from the European Commission, the divestment was completed and, as a result, all anti-trust conditions relating to the Foseco acquisition have been satisfied.
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