The sale of ICI's Synetix division has been completed with Johnson Matthey handing over the final £19m for the Indian arm of the business.
UK-based Johnson Matthey bought Synetix, including a site at Billingham, Teesside, for £260m earlier this year.
Both firms yesterday announced the sale transaction, which was made public on September 23, was complete.
ICI sold off the successful Synetix outfit to slash its debt.
Johnson Matthey confirmed at the start of last month that all 400 Teesside jobs were safe.
Synetix is a global catalyst manufacturer which serves a range of market segments, including ammonia, methanol, fine chemicals, edible oils, oleochemicals, oil and gas and polymerisation.
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