MOSCOW (MRC) -- Clariant, a world leader in specialty chemicals, has signed an agreement to divest its Water Treatment business operating in Argentina, Brazil and Colombia to Ecolab Inc., as per the company's press release.
The transaction is subject to certain conditions precedent, as well as regulatory approvals. The Water Treatment business of Clariant in Latin America provides chemicals and services to a wide range of industries, including textile, food and beverage, chemical, pulp & paper, and personal & home care.
The divestment to Ecolab does not include Clariant’s Water Treatment activities related to the oil and gas industry in the Latin America region. This segment has been integrated into the Oil & Mining Business within the Natural Resources Business Area. Clariant has been providing products and services for the oil & gas sector for more than 30 years in Latin America, with production plants and laboratories to develop solutions to attend to present and future customer demands.
"The divestment of the Latin American Water Treatment business is a result of our continuous active portfolio management, based on Clariant‘s profitable growth strategy", said Michael Pronin, Region Head Latin America. "Our company will continue providing Water Treatment solutions to the oil & gas segment, as part of the package of services we offer to this important industry in our region".
As MRC reported earlier, in July 2014, Clariant closed the sale of its water treatment business in Africa to AECI, domiciled in South Africa. The total value of the divestment amounts to CHF 34 million in cash at closing. The transaction was subject to certain precedent conditions.
Ecolab is the global leader in water, hygiene and energy technologies and services.
Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints.
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