Clariant to sell detergents business to ICIG

5:17 AM, 16th October 2013

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.

0 Comments

Your Comments (Up to 2000 characters)

Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Submit

ESSEN, GERMANY/HARLEYSVILLE, US: Evonik Industries AG and Colorcon Inc have signed a cooperation agreement for the marketing and technical support of ...

Antibiotic resistance, a successful pathway for new drugs

HAMILTON, CANADA: In the battle against antibiotic resistant bacteria, McMaster researchers have found resistance itself is a successful pathway for d ...

Towards development of dye-based solar cells

WISCONSIN, US: UW-Madison researchers working at the intersection of basic and applied science focus on key factors like cost, environmental impacts . ...

China to punish 72 companies for violating environmental protection regulations

BEIJING, CHINA: China’s environmental watchdog has named the 72 companies that have violated environmental protection regulations. The Chinese M ...

Newly developed process for foam-like polymer coatings

ROCHESTER, US: Polymers, the essential component of plastics, are found in countless commercial, medical, and industrial products. Polymers that are p ...

Oman Oil to acquire Oxea from Advent International

MUSCAT, OMAN: The Oman Oil Company agreed to buy German chemicals maker Oxea from buyout firm Advent International to expand into downstream activitie ...