Newspaper article Evening Gazette (Middlesbrough, England)

Uniqema Could Be Put on Sale

Newspaper article Evening Gazette (Middlesbrough, England)

Uniqema Could Be Put on Sale

Article excerpt

Byline: Karen Mclauchlan

One of the last remnants of chemical group ICI on Teesside could be up for sale.

Reports have suggested the company is looking at the possibility of selling off its Uniqema business - which employs around 360 at Wilton.

The business makes ingredients for items ranging from lipsticks to paints.

Uniqema is the largest of ICI's operations left on Teesside - after employing tens of thousands of staff at the peak of its operations. In the 1960s ICI had 30,000 Teesside workers on its books.

Locally the company currently also employs around 100 in research and development and 20 at its regional and industrial division.

Reports say ICI chief executive John McAdam is said to have asked investment bank UBS to explore whether the Uniqema business should be sold. ICI today said it was "making no comment" on reports.

It's thought the Uniqema business could be worth more than pounds 200m.

In recent years ICI has been through a major divestment programme, selling off major chunks of its operations. …

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