Croda sells Italian business

Speciality pharmaceutical company Croda, which counts Procter & Gamble and Unilever among its customers, is to sell its Italian arm to a private company in the country. It is believed to be sold for between £1 and £2m. Completion of the deal is expected to take place before the year end. Meanwhile, Croda said its third quarter sales were robust, up 3.2 per cent compared to the previous year.