Polish chemical group Ciech will sell 99.62 percent in its phosphorus and chromium compound producer Zakłady Chemiczne Alwernia to Kermas Group, one of the world's largest chrome compound producers, for $13.4 million.

The companies have already signed a preliminary agreement, but the acquisition is still subject to anti-monopoly approval. The sale of subsidiaries is part of the Ciech capital group's restructuring strategy. In 2012, it sold its TDI production unit Zachem to Germany's BASF.

Poland A.M