HUDDERSFIELD, UK - Avecia announced a definitive agreement to sell its Additives business, part of the company's Specialty Products portfolio, to The Lubrizol Corp. for an undisclosed price. The agreement is subject to regulatory and other customary closing conditions. The Additives business has annual sales of approximately £30 million, or about $53 million.

The sale includes Avecia's primary manufacturing site at Huddersfield, UK, with other manufacturing facilities at Grangemouth, Scotland, to continue operation by Avecia under a long-term supply agreement.

Avecia Additives is a global supplier of polymeric dispersion products, and supplies additives for coatings, inks, plastics and pigment-treatment applications.