Indukern sold to Ravago

Barcelona-based Grupo Indukern has agreed to sell its chemical business, Indukern, to the Ravago Group, subject to regulatory approval. The group said that it had received several offers for the business. Terms were not disclosed.

Based in Luxembourg, family-owned Ravago is mainly a recycler of plastics and rubber but is also active in the coatings, adhesives, sealants & elastomers (CASE), life sciences and care markets. It has operations in Europe, Latin America and the Middle East. 

Indukern itself is mainly active in the food, flavours and fragrances, pharmacy and veterinary industries. It employs 520 people, 171 of them in Spain itself and the rest in subsidiaries in Brazil, China, Colombia, France, Mexico, Portugal and Switzerland. Grupo Indukern will remain focused on human and animal health sectors, through its Kern Pharma and Calier operations.