Tropicana sells non-core ops for RM198mil

PETALING JAYA: Tropicana Corp Bhd is disposing of its non-core business of manufacturing explosives with the sale of its entire 73% shareholding in Tenaga Kimia Sdn Bhd for RM194.7mil cash.

The company said that its unit, Tropicana Tenaga Kimia Sdn Bhd, was disposing of the stake to Austin Powder Asia Pacific, a subsidiary of US-based Austin Powder Holdings Co.