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Uniqema Sale Dependant on Right Offer
Posted: February 16, 2006
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Kilfoyle would not comment on the potential price tag, but some analysts have estimated the business could be worth more than £200 million. The division accounts for more than 11% of group sales, but only 4% of the profits.
ICI's chief executive, John McAdam announced the plan when announcing the company’s full report. Kilfoyle also confirmed that the personal care and lubricant business would not be sold piecemeal, but rather as one strong entity.
Kilfoyle stated that Uniqema is a great business, enjoyed a good fourth quarter and that the business is definitively “cash-generative.” The decision to do so was simply to create a different more-aligned higher-growth portfolio for their investors, said Kilfoyle. “This is in no way a criticism of the business,” she added.