AECI to sell Animal Health business as it shifts focus to core competencies
Mining explosives and chemicals company AECI has signed an agreement for the sale of its Animal Health business, as a going concern, to Nutreco International, whose South African subsidiary is Trouw Nutrition South Africa.
“This strategic move aligns with our recently announced strategy to streamline operations and focus on our core competencies, ensuring continuous growth and value creation for our stakeholders. Nutreco is recognised worldwide for its commitment to excellence and innovation, making it the right home for the Animal Health business and our people,” says AECI.
"We are pleased to have found a partner that shares our vision and values in Nutreco. This transaction represents a significant milestone in our journey and we are confident that the Animal Health business will thrive under Nutreco's leadership,” adds AECI Group CEO Holger Riemensperger.
The company notes that the transaction is subject to customary closing conditions, including regulatory approvals and the satisfaction of other agreed-upon terms. The company expects the transaction to close in four to six months.
“We remain focused on the successful execution of our strategy. This transaction affords us the opportunity to concentrate our efforts and resources to achieve our ambition to double profitability of the core business – Mining and Chemicals – by 2026.
“We extend our sincere thanks to all employees, customers, suppliers and partners for their dedication and support. We look forward to a seamless transition and continued collaboration with Nutreco in the future,” AECI expresses.
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