Unilever continues weed-out
Thursday 09 January 1997
CinVen is buying the professional micro-biology unit of the conglomerate's Unipath business in a deal worth pounds 84.6m. This includes fresh banking facilities to fund expansion and Unilever yesterday declined to reveal the precise sale price.
Though not technically a management buyout, CinVen will retain the group's existing management. They are also expected to obtain a stake in the business which has 600 staff and recorded sales of pounds 60m last year.
The business, which will be renamed Oxoid, is based in Basingstoke and manufactures materials used by hospitals, pathology units and the food and pharmaceutical industries.
Outside the UK, Oxoid also has manufacturing plants in Germany and sales offices across Europe, Australia and Canada.
Unilever will concentrate on Unipath's consumer goods activities which are based in Bedford. They include the Clearblue pregnancy test kits and the recently launched Persona systems of contraception.
Mr FitzGerald, who took over the reins at Unilever in September, stated previously that he wanted to dispose of underperforming or non-core businesses. Unilever sold Mrs Butterwell, an American syrups and pancakes business, just before Christmas.
Mr FitzGerald has already slimmed down Unilever's group executive committee and plans to merge some operating subsidiaries into a simpler structure.
- 1 The West has it totally wrong on Lee Kuan Yew
- 2 Watch: Man takes selfie every mile of 2,600 mile hike, creates amazing timelapse video
- 3 The day I starred in Only Fools and Horses
- 4 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 5 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
Germanwings captain Patrick Sondenheimer tried to break into locked cockpit door 'with an axe' as plane was descending
Saudi Arabia says it won't rule out building nuclear weapons
The battle for the Middle East's future begins in Yemen as Saudi Arabia jumps into the abyss
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Revealed: Putin's army of pro-Kremlin bloggers
Germanwings plane crash: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
Andreas Lubitz: Knee-jerk reaction to 9/11 enabled mass murder
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...