SWITZERLAND: Clariant has signed an agreement to divest its Detergents & Intermediates business to International Chemical Investors Group (ICIG). The total consideration of the sale amounts to approximately $63.7 million (€46.9 million), out of which $21.7 million (€16 million) will be in cash at closing.
“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,” Clariant CEO Hariolf Kottmann said. “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.”
“The Clariant Detergents & Intermediates business ideally complements our fine chemicals and custom manufacturing operations, providing also the basis for a new detergents platform together with our US hydrotropes and batch sulfonation business of Nease Corp,” said ICIG managing director Achim Riemann.
Earlier in October, Clariant closed the sale of its Textile Chemicals, Paper Specialties and Emulsions businesses to SK Capital. Effective Oct. 1, the three former Clariant businesses are operating under the name Archroma.