By Liz White, ERJ staff
Munich, Germany-The Wacker family gained 100-percent control in Wacker-Chemie recently when Hoechst AG, a subsidiary of Sanofi-Aventis, signed a contract to sell all its remaining shares in Wacker-Chemie-around 44.4 percent -to a holding company controlled by the family.
"This divestment marks the end of an 84-year-old partnership between Hoechst AG and the Wacker family, dating back to the times when Wacker-Chemie was established," said an 8 Aug statement from Wacker.
Both parties agreed not to reveal financial details of the transaction, the statement added. Wacker group had total sales in 2005 of Euro 2500 million.
Meanwhile, Wacker Silicones is to implement a 3 to 5 percent price increase for its DEHESIVE release coatings effective 1 Sept 2005.
The firm said the rise is necessary to maintain Wacker Silicones' product and service excellence and to ensure continuing improvements in the extent and quality of the offerings to its paper and film coating customers.
