Clariant divest detergents & intermediates business ICIG

Clariant to sell detergents business to ICIG

5:17 AM, 16th October 2013
Clariant business news
Hariolf Kottmann, CEO, Clariant.

MUTTENZ, SWITZERLAND: 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 CHF 58 million ($63.7 million), out of which 20 million will be in cash at closing. The transaction is subject to regulatory approvals.

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.

“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. Once completed, the repositioning of the portfolio will allow the group to focus on exploiting its strong market positions and intensify growth by focusing on customers and innovation,” said Hariolf Kottmann, CEO, Clariant.

 

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