Royal Vopak to purchase Ellis & Everard

Royal Vopak has launched a cash offer to purchase all of the issued and to be issued ordinary shares of Ellis & Everard.

The offer, which values the current issued ordinary share capital of Ellis & Everard at approximately £310 million ($443 million) is unanimously supported by the Ellis & Everard Board of Directors.

Royal Vopak reported sales in 1999 from world-wide chemical distribution activities of EUR 2.8 billion. Ellis & Everard’s sales for the comparable period were USD 1.3 billion, 60% of which occurred in the United States, 23% in the United Kingdom and Ireland, and the balance elsewhere in Europe.

On a pro-forma, combined basis for fiscal year 1999, Vopak and Ellis & Everard’s US business would have represented chemical distribution sales in North America of USD 2.7 billion. Vopak Distribution Europe, combined with Ellis & Everard’s UK and European sales, on a pro-forma basis for 1999, would have resulted in sales of EUR 1.4 billion.

In addition to its position in the UK, Ellis & Everard operates in the Benelux countries and in Scandinavia. Its European business units include: Distrupol, Goorden, Kent Foods and G. Fiske & Co. The Ellis & Everard Group in the US includes: American Industrial Chemicals Corporation, Apperson Chemicals, Chemply, Kramer Chemicals, Manley-Regan, Mid-State, George Mann & Co, HVC, Ind Chem, Mozel, Performance Polymers, Pioneer Chemicals, Prillaman Chemical Corporation and The Truesdale Company.

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