KLK announced that its wholly owned subsidiary Kolb Distribution AG had on December 11 entered into an agreement with Elementis plc to acquire Elementis Specialties Netherlands (ESN), located in Delden, the Netherlands. Completion of the sale, which is subject to completion of employee consultation processes, receipt of regulatory clearances and other customary closing conditions, is expected in the first half 2018. ESN manufactures surfactants and further specialties and will expand the existing Kolb business portfolio in terms of product range and market coverage. The use of the Delden site as another hub for KLK's market penetration strategy will further accelerate growth in the group's downstream chemical specialties business in Europe. Upon completion of the proposed acquisition, ESN will continue to supply a range of specialty chemicals to Elementis Specialties Inc under a long-term supply agreement. We are looking forward to the cooperation with our new colleagues striving for positive synergies for the KLK Group’s Oleochemical operation in Europe.