November 1, 2018 / 6:21 AM / 15 days ago

Lonza sells water care business for $630 mln

ZURICH, Nov 1 (Reuters) - Lonza said on Thursday it has struck a deal to sell its water care business to U.S. investment company Platinum Equity for $630 million.

Lonza, which said it was selling the business as part of its long-term strategy to focus on its health care business, expects the deal to close in the first quarter of 2019. The inclusion of the French business in this transaction is still under discussion.

The water treatment and pool care business has six manufacturing facilities, including North America, South America, Europe and South Africa, with roughly 1,200 employees.

Reporting by John Revill; Editing by Maria Sheahan

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