MobilityTechzone

Latest News

[March 17, 2005]

Engelhard Completes Acquisition of Major Stake in Coletica, S.A.

ISELIN, N.J. --(Business Wire)-- March 17, 2005 -- Engelhard Corporation (NYSE: EC) announced today that it has completed its previously announced plan to acquire a majority stake in Coletica, S.A., a publicly traded, high-growth company that develops performance-based, skin-care compounds and related technologies for the cosmetic and personal care industries.

Engelhard purchased 77.87% of Coletica's outstanding shares, which were held by a group led by Coletica's founder and president, for about EUR 50 million. Engelhard plans to make a tender offer for the remaining publicly held shares at a price of EUR 37.10 per share. The tender offer is to be made at the end of March or early April. The offer translates into a purchase price of EUR 65.85 million for 100% ownership.

The acquisition further strengthens Engelhard's position as a leading global supplier of materials technology to the cosmetic and personal care industries. It expands the company's existing capabilities in the growing market for skin-care materials used in such applications as anti-wrinkle creams, sun protectants, moisturizers and materials that improve the overall complexion of the skin.

Coletica was started in 1985 in Lyon, France. As part of the transaction, Engelhard acquires the company's two facilities in Lyon, sales offices in Paris, New York and Tokyo and its more than 120 employees.

Engelhard Corporation is a surface and materials science company that develops technologies to help customers improve their products and processes. A Fortune 500 company, Engelhard is a world-leading provider of technologies for environmental, process, appearance and performance applications. For more information, visit Engelhard on the Internet at www.engelhard.com

[ Back To MobilityTechzone Homepage's Homepage ]
FOLLOW MobilityTechzone

Subscribe to MobilityTechzone eNews

MobilityTechzone eNews delivers the latest news impacting technology in the Wireless industry each week. Sign up to receive FREE breaking news today!
FREE eNewsletter
Interview with VPI Systems
TMC's Rich Tehrani speaks with Russ Green, Senior Vice President of Marketing and Product Management for VPI Systems
Interview with Thrupoint
TMC's Paula Bernier speaks with David Jodoin, Chief Strategy Officer for Thrupoint
Interview with Nuance
TMC's Erik Linask speaks with Christy Clark Murfitt, Sr Manager of Solutions Mktg, Enterprise Division for Nuance
Interview with Abukai
TMC's Erik Linask speaks with Philipp Schloter, President & CEO of Abukai
Interview with DragonWave
TMC’s Stefanie Mosca speaks with Greg Friesen, VP, Product Management of DragonWave