Rhodia Sells Silicones Business

Posted: December 28, 2006

Rhodia has confirmed the sale of its silicones business to China National BlueStar Corp. According to BlueStar, it has purchased Rhodia's organic silicon business and its sulphide business. The purchase reportedly will propel BlueStar into a top worldwide silicone producer. Earlier in 2006, BlueStar, a subsidiary of ChemChina Group Corp, purchased methionin producer Adisseo Group. The financial terms of the transaction between BlueStar and Rhodia have not been disclosed; however, it reportedly is based on an enterprise value of 400 million.