Sasol Germany GmbH announced that it has reached an agreement to sell its production site in Witten (Germany) and the associated oleochemicals business to Cremer Oleo GmbH & Co. KG.

CREMER, headquartered in Hamburg, is an internationally operating specialist for trade, production and transportation of elements and raw materials as well as for oleochemical products. With Cremer Oleo the company has been active in the production and distribution of basic oleochemical commodities since the late 1970s.

The product range of the Witten site, which is part of the Sasol Olefins & Surfactants division, comprises more than 250 different oleochemicals for use in the cosmetics, food and pharmaceuticals industries, as well as for technical applications. The site employs about 100 people. The employees have been informed at a staff meeting that took place today with representatives of Cremer.

The transaction is subject to approval by the relevant competition law authorities. Both companies have agreed not to disclose details pertaining to the transaction.