Japan-based chemical company Mitsubishi Chemical has put out an offer to purchase the compounds activities from the Tessenderlo Group.

The offer followed the latter’s announcement that it intended to divest its compounds business in bid to strengthen its focus on specialty products and services in the areas of food, agriculture, water management and valorising bio-residuals.

The proposed sale will include four manufacturing sites, located in France, Poland and China and one R&D site in Belgium.

The employee representatives of the companies making up the group’s Compounds business unit have been informed that the information and consultation procedures will be launched.

The compounds unit has nearly 50 years experience and expertise in formulation and production of thermoplastics; Its range of thermoplastic elastomers (TPE) and PVCs has been specially formulated to provide original solutions for applications in the building, automotive, cabling and many other areas. The activities in scope of this project employ about 360 employees, and generated revenue of EUR120 million in 2011.