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 Malaysian oil palm producer KL Kepong to buy Swiss oleochemical company

18/12/06, KUALA LUMPUR (www.iht.com) -  Malaysian palm oil producer Kuala Lumpur Kepong Bhd. said it will buy Swiss specialty oleochemical producer Dr. W. Kolb Holding AG for 135 million Swiss francs (US$110.5 million; €84.4 million) in cash.

The deal, which is expected to be completed by the end of March, would give KL Kepong immediate entry into the European market, the firm said in a statement late Monday.

"The proposed acquisition is strategic and fits well with KL Kepong's resource-based manufacturing activities," the multinational Malaysian company said, adding that the purchase will be financed with cash reserves and bank borrowings.

W. Kolb Holding, founded in 1964, has production locations in Switzerland and Holland. It is involved in chemical productions for products including paper, cosmetics, inks and lubricants.

Source: http://www.iht.com/

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