REG - Elementis PLC - Sale of Chromium business

ElementisAnnouncement

31/01/2023 15:15

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RNS Number : 4636O  Elementis PLC  31 January 2023

London, 31 January 2023.

Elementis plc

Sale of Chromium business

Further to the announcement of 30 November 2022, Elementis plc ("Elementis" or
the "Group"), a global specialty chemicals company, is pleased to confirm that
the sale of the Chromium business to Yildirim Group has now been completed.
The total cash proceeds after transaction costs and working capital
adjustments are around $119m.  The transaction will give rise to a tax
charge in FY 2023 of approximately $12m. The net proceeds after tax will be
used to reduce the Group's net debt, in line with the capital allocation
priorities previously announced.

Following the sale of the Chromium business, Elementis will continue to
implement its strategy built on innovation, growth and efficiency, with a
portfolio now focused on premium specialty products.

 

Enquiries

Elementis plc

David Boyd, Investor
Relations
Tel: +44 7764 905135

David.boyd.ext@elementis.com

 

Juliana Noronha, Corporate Communications
Tel: +44 7384 866389

Juliana.noronha@elementis.com

 

Tulchan

Martin Robinson, Olivia
Peters
Tel: 020 7353 4200

 

 

About Elementis

Elementis is a global specialty chemical company, with 1,300 employees
operating 17 manufacturing sites across the globe. At Elementis, we bring a
distinctive combination of expertise, innovation, and teamwork to every
formulation challenge. We create high-value specialty additives that enhance
the performance of our customers' products and make a positive change in the
world.

Combining our leading positions in the science of materials flow, surface
modification, and formulation with access to unique natural materials,
Elementis delivers unique chemistry, sustainable solutions to customers in a
wide range of markets, including cosmetics, anti-perspirants, decorative and
industrial coatings, automotive and ceramics. In 2021 Elementis reported
revenue of $880m and adjusted operating profit of $107m.

 

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