05:23 PM EDT, 09/03/2024 (MT Newswires) -- Element Solutions ( ESI ) said Tuesday it agreed to sell its noncore flexographic printing plate business, MacDermid Graphics Solutions, to XSYS for an enterprise value of roughly $325 million.

The company said an existing capital loss is expected to offset almost all taxable gains from the transaction. It plans to use the net proceeds to deleverage and for general corporate purposes.

Completion of the sale is expected later this year or in H1 2025, subject to regulatory approvals and customary closing conditions, it said.