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Clariant, a world leader in specialty chemicals, has signed an agreement to divest its Detergents & Intermediates business to International Chemical Investors Group (ICIG). The total consideration of the sale amounts to CHF58 million ($63.4 million), out of which CHF20 million will be in cash at closing of the deal.
The transaction is subject to regulatory approvals. “Having successfully closed the sale of the first three businesses two weeks ago, the divestment of Detergents & Intermediates marks the next step in streamlining our portfolio”, CEO Hariolf Kottmann said.
Repositioning the company’s portfolio is an essential part of Clariant’s profitable growth strategy. To achieve the targets set for 2015, Clariant will focus on markets with future perspectives and strong growth rates and on businesses that have a competitive position, resulting in strong pricing power. In this context, the company has divested the Business Units Textile Chemicals, Paper Specialties and the Business Unit Emulsions on September 30 2013 and signed an agreement for the Business Unit Detergents & Intermediates. With the planned divestment of the Business Unit Leather Services, the repositioning of Clariant’s portfolio will be completed in the coming quarters.comments powered by Disqus