Elementis sells Linatex division

London — Elementis plc has announced the sale of Linatex, its Yately, UK-based specialty rubber business, to private equity funds managed by Navis Capital Partners for approximately US$30.8 million (£17.6 million) in cash, net of all debts. Navis is an Asian-based investment company.

Elementis said Linatex is a leading international manufacturer of wet abrasion resistant rubber products and process equipment. In the year ended 31 December 2004, Linatex’s operating profit was £0.2 million on sales of £45.9 million with net assets of £17.1 million, excluding cash…

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