Japanese chemicals supplier, BIO, plans to make up to $300 million in profits from sale of its chemical cleaning business

Japan’s top chemicals maker is planning to make a profit of up to 200 billion yen ($295 million) in the next three years after the company sold off its cleaning business to a Japanese company, The Asahi Shimbun reported Monday.BIO Chemicals, which operates in more than 100 countries, said it would continue to sell cleaning products to customers and will use profits to expand its clean-up operations.

It said the business was one of its largest ever.

It also plans to expand clean-water services, adding that it will invest in more facilities in Japan.

BIO Chemies plans to use the proceeds to expand the clean-energy business, which will be made up of renewable energy and clean-storage technologies, the company said.

It will also sell a business in which it will take on more work from foreign companies to boost exports of cleaning chemicals, the report said.