Innospec, an Englewood-based chemicals company, sold its Aroma Fine Chemicals subsidiary to Emerald Performance Materials LLC for $40.5 million, company officials disclosed Monday.
The U.K.-based manufacturing plant, which operates as Innospec Widnes Limited and makes chemicals used in some household products, was expected to generate $50.2 million in sales this year, Innospec officials said in a U.S. Securities and Exchange Commission filing made Monday.
“We have been looking to focus more of our resources on our key businesses and markets that provide us with the best growth opportunities,” Patrick Williams, Innospec president and chief executive officer said in a statement. “We have felt for some time that we were unable to provide the Aroma Chemicals business with the support it needs to grow in this market. We believe that the business will flourish under ownership whose core strategic focus includes the Aroma Chemicals markets.”
Innospec’s investment focuses include fuel, oilfield and personal care, officials said.
Alicia Wallace: 303-954-1939, awallace@denverpost.com or
