Comma Oil and Chemicals has been sold by ExxonMobil to a Brazilian chemicals manufacturer for a sum â€œnot exceeding $100 million.â€
Cosan S.A. Industria e Comercio announced its intention to enter into the European chemicals market this week with the deal which is expected to be completed later this year.
Comma has until now been a wholly-owned subsidiary of ExxonMobil which also owns Esso.
Cosanâ€™s management team has confirmed that there will be no change to the management structure. There are also no plans for any redundancies at Commaâ€™s Kent HQ where 215 staff are employed.
Cosan also confirmed that all of Commaâ€™s current contracts will continue as normal, and that the company will continue to trade using the Comma brand.
Executive Director for Cosan Nelson Gomes said: â€œCosan is delighted at our successful purchase of this business. We will continue the ongoing, flawless operation of the Comma business by ensuring the highest standards. Comma will continue to offer automotive customers in the UK and export markets a wide range of first-class lubricants, seasonal and car care products.â€
Gomes commented that in the coming years Cosan wants to diversify its business and expand internationally, and that means bringing its name to the UK market.
Comma’s production facilities offer a blending capacity of 60,000 litres per hour, while around 50 million litres of oil and chemicals are blended at the site each year. Comma has more than 600 different part numbers in its catalogue.