Zeneca Looks Into Divesting Specialties

Zeneca is to consider the possible divestment of Zeneca Specialties, its range of high-quality businesses, which include Biocides, Industrial Colors, LifeScience Molecules, Performance and Intermediate Chemicals, Resins and Stahl leather products. The business operates across 35 sites worldwide and employs approximately 5,500 people.

Jeremy Scudamore, Zeneca Specialities' CEO, said, "Zeneca is making this announcement now so that we can explore further growth opportunities for the business, as a whole, with other companies in the rapidly consolidating specialty chemicals sector." The potential divestment would include all of Zeneca Specialties' worldwide operations. In the event of a sale, the company intends that all relevant employees would transfer to the new owner.

Sir David Barnes, chief executive of Zeneca Group PLC, commented that such a divestment would enhance further the Group's focus on Zeneca Pharmaceuticals and Zeneca Agrochemicals.

For more information: Lucy Williams, Zeneca Corporate Office, UK, telephone: 00 44 (0)171 304 5034; Andrew Smalley, Zeneca Specialities, UK, telephone: 00 44 (0)161 721 2441; or Rachel Bloom, Zeneca, Inc., Wilmington, DE, telephone: 302-886-7858.