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Clariant closes sale of Textile Chemicals, Paper Specialties and Emulsions businesses

October 04/2013

MOSCOW (MRC) -- Clariant, a world leader in specialty chemicals, has announced the closing of the sale of its Textile Chemicals, Paper Specialties and Emulsions businesses to SK Capital, reported the company in its statement.

Starting 1 October 2013, the three former Clariant businesses are now operating under the name Archroma.

After some adjustments for working capital and for the lower operational performance of some parts of the businesses, the total purchase price consideration of the transaction will amount to approximately CHF 425 million, mainly consisting of a cash inflow of CHF 355 million and the transfer of pensions and other liabilities.

Worldwide, 2,900 employees will transfer to Archroma.

"The successful closing of the transaction is the next step in repositioning Clariants portfolio towards higher growth, higher profitability businesses", said CEO Hariolf Kottmann.

We remind that, as MRC informed earlier, Clariant and Tasnee, one of the largest industrial conglomerates in Saudi Arabia, have recently announced the signing of an agreement to establish a masterbatches joint venture in Saudi Arabia. Within the framework of the agreement, through its 100% subsidiary Rowad National Plastic Company Ltd., Tasnee will acquire a 40% stake in Clariants masterbatches operations in the country, already operating under the name Clariant Masterbatches (Saudi Arabia) Ltd. The joint venture will be operational following completion of customary merger control clearance procedures and will keep its main focus on the Arabic peninsulas core market.

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.


mrcplast.com
Author:Margaret Volkova
Tags:bumaga, adhesives, tekstil, masterbatches, Clariant International, SK Corporation.
Category:General News
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