Sanofi Divests Bio-Industries And Rendering Businesses
French health and beauty company Sanofi has signed an agreement with the German company SKW Trostberg, which is to acquire Sanofi's bio-industries and rendering businesses. The German company is a subsidiary of the VIAG group. It does not currently possess an industrial and commercial base in the bio-industries and rendering sectors, and does not have a large presence in the French market.
Sanofi said in a statement that the strategic choice of SKW Trostberg is in keeping with the continuation of the comprehensive concept it has developed since 1985. Sanofi is confident that the agreement will "preserve the integrity of the companies concerned."
The companies now have 5,600 staff worldwide, 3,900 of whom are employed in France, generating sales of 5 billion French francs ($943.05 million), according to Sanofi. Of this figure, 3.5 billion francs come from the bio-industries business. The businesses being divested will continue to be managed by existing management teams.
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