Croda sells Italian business, good start to Q4 after weak September

Speciality chemicals manufacturer Croda Interntional has announced that it has sold its Italian business based in Cremona to a private company located in Italy for a consideration equivalent to the value of its working capital.

Speciality chemicals manufacturer Croda Interntional has announced that it has sold its Italian business based in Cremona to a private company located in Italy for a consideration equivalent to the value of its working capital.

Completion of the sale is expected to take place before the year-end. In the first nine months of the year it had a turnover of £25.4m (2011: £32.2m) and made an operating loss of £0.1m (2011: operating profit £4.1m).

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