As part of the transaction, Frutarom - Electrochemical Industries has purchased two large factories in Britain with 105 employees.
Frutarom - Electrochemical Industries (AMEX: EIL) today announced that its British subsidiary Frutarom UK signed an agreement to acquire the activities and properties of the Flavor Division and Aroma Ingredients Division of British company CPL Aromas for $16 million.
As part of the transaction, Frutarom has purchased two large factories in Britain with 105 employees. Sales for the acquired divisions were $24 million last year.
Frutarom’s current stock market value is $38 million. Frutarom is a subsidiary of the New-York based ICC Industries, a major international manufacturer and trader of chemicals, plastics and pharmaceuticals, which owns 58% of the company. The remainder of the shares are owned by the public.
Published by Israel's Business Arena February 25, 2001.