CHEMICALS group ICI has confirmed it is in talks about selling off parts of its business.

The deal looks set to see one of the last remaining pieces of ICI's massive Teesside plant sold later this week.

The businesses in the spotlight are believed to include ICI's Klea CFC replacement business, silica additives group Crosfield and its halochemicals division.

Although the company would not confirm what businesses were up for sale, the Chlor chemicals business at Wilton, employing 100, comes under its halo-chemical unbrella.

News of the talks with privately-owned chemicals group Ineos emerged over the weekend and yesterday ICI's shares were up nearly six per cent on hopes a deal was imminent.

ICI said it was in discussions with Ineos ''concerning potential disposals'' - widely expected to be the remainder of its UK industrial chemical operations.

Speculation has been growing that the group will announce the disposals at its third quarter trading update on Thursday.

ICI has been undergoing a massive restructuring operation since 1997, moving itself from a high-volume bulk chemicals business to a speciality products and paints business.

The shift has seen ICI sell large chunks of its non-core businesses around the world, and the giant that once employed 20,000 on Teesside has seen that number dwindle to less than 2,000.

And if the speculated disposal went ahead, it could see it sell a parcel of business in a deal estimated to be worth £300m.

The sale would be the last major UK disposal within its restructuring programme. In total its businesses employ more than 3,000 people worldwide but sale is not expected to mean any job cuts