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This excerpt taken from the ICI 20-F filed Apr 1, 2005. (ii) Other disposals The Group also divested some smaller businesses including the 51% owned pharmaceutical business of ICI India, its Security Systems business and the UK Nitrocellulose and Energetic Technologies businesses. In addition, IFI, the Irish Fertilizer business in which the Group has a 49% interest ceased trading. Provisions of £37m were raised for these transactions, mainly in respect of separation costs (£14m), costs relating to employees transferring to the purchaser (£13m) and transaction related costs (£5m). At 31 December 2004, £2m remained to be spent including separation costs (£1m) and environmental costs (£1m). Full utilisation is expected by the end of 2005. ICI ANNUAL REPORT AND ACCOUNTS 2004 Back to Contents to the Accounts
Notes relating to the accounts
2003 During 2003 the Group divested the Permabond and Cheese Coatings businesses of National Starch and the Explosives business of ICI India. Provisions of £6m were charged in respect of severance costs (£2m) relating to 50 employees, separation costs (£1m) and transaction related costs (£3m). At 31 December 2004, £3m remained to be spent relating to transaction costs, and full utilisation is expected by the end of 2005. 2004
The Group completed the sale of Quest’s Food Ingredients business on 30 April 2004. Provisions of £22m were charged in respect of transaction costs (£6m), pension costs relating to employees transferring to the purchaser (£6m), separation costs (£9m) and severance costs (£1m). As at 31 December 2004, £12m remained to be spent being pension costs relating to employees transferring to the purchaser (£5m), separation costs (£6m), and severance costs (£1m). The majority of provisions are expected to be utilised by the end of 2005.
During 2004 the Group closed its polyethylene business in Argentina. Provisions of £5m were charged in respect of transaction costs (£1m), separation costs (£1m), and severance costs (£3m). At 31 December 2004, £3m remained to be spent relating to separation costs (£1m) and severance costs (£2m). The majority of provisions are expected to be utilised by the end of 2005. This excerpt taken from the ICI 6-K filed Mar 16, 2005. (ii) Other disposals The Group also divested some smaller businesses including the 51% owned pharmaceutical business of ICI India, its Security Systems business and the UK Nitrocellulose and Energetic Technologies businesses. In addition, IFI, the Irish Fertilizer business in which the Group has a 49% interest ceased trading. Provisions of £37m were raised for these transactions, mainly in respect of separation costs (£14m), costs relating to employees transferring to the purchaser (£13m) and transaction related costs (£5m). At 31 December 2004, £2m remained to be spent including separation costs (£1m) and environmental costs (£1m). Full utilisation is expected by the end of 2005. ICI ANNUAL REPORT AND ACCOUNTS 2004 Back to Contents to the Accounts
Notes relating to the accounts
2003 During 2003 the Group divested the Permabond and Cheese Coatings businesses of National Starch and the Explosives business of ICI India. Provisions of £6m were charged in respect of severance costs (£2m) relating to 50 employees, separation costs (£1m) and transaction related costs (£3m). At 31 December 2004, £3m remained to be spent relating to transaction costs, and full utilisation is expected by the end of 2005. 2004
The Group completed the sale of Quest’s Food Ingredients business on 30 April 2004. Provisions of £22m were charged in respect of transaction costs (£6m), pension costs relating to employees transferring to the purchaser (£6m), separation costs (£9m) and severance costs (£1m). As at 31 December 2004, £12m remained to be spent being pension costs relating to employees transferring to the purchaser (£5m), separation costs (£6m), and severance costs (£1m). The majority of provisions are expected to be utilised by the end of 2005.
During 2004 the Group closed its polyethylene business in Argentina. Provisions of £5m were charged in respect of transaction costs (£1m), separation costs (£1m), and severance costs (£3m). At 31 December 2004, £3m remained to be spent relating to separation costs (£1m) and severance costs (£2m). The majority of provisions are expected to be utilised by the end of 2005. | EXCERPTS ON THIS PAGE:
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