Diemen, the Netherlands, July 14, 2008 – CSM announces that negotiations with AVEBE have progressed so well that it has signed a Heads of Agreement with the intention to sell the gluconates production plant of its subsidiary PURAC in Ter Apelkanaal to AVEBE.
The completion of the transaction is scheduled for September 30, 2008.
The intended transaction comprises the transfer of all 68 employees to AVEBE.
The intended sale of the production plant in Ter Apelkanaal is part of the strategic restructuring of PURAC’s manufacturing footprint, which was announced in September 2007.