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Tessenderlo Group to sell European PVC profile business

Chemicals company Tessenderlo Group has announced that its plans to sell Profialis, its continental European PVC profile business, to investment firm Open Gate Capital, for an undisclosed sum.

Belgium-based company said staff at Los Angeles-based Profialis’ production centers in Belgium and France were informed about the deal, said Plastics News.

According to Tessenderlo, the sale is part of a strategy to focus on producing specialty products in the food, agriculture and water management areas.