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Clariant Sells Hydrosulfite Business, Opens Plant In China

Clariant International Ltd., Switzerland, has sold its North American sodium hydrosulfite semi-specialties business part of the paper business unit within Clariant's Textile, Leather and Paper Chemicals Division to Chemtrade Logisitics Inc., Toronto, for $62 million.

"This sale marks a further logical step in Clariant's strategy of active portfolio management by divesting non-core businesses and focusing on fine and specialty chemicals," said Reinhard Handte, CEO, Clariant.

The transaction, approved by both US and Canadian antitrust authorities, includes production sites in Carlisle, S.C., and Kalama, Wash., as well as sales offices in Charlotte and Trois Rivis, Quebec. Chemtrade will continue to employ the 120 hydrosulfite production workers.

In other company news, Clariant has opened a new textile and leather chemicals production plant in Tianjin, China. Completed in just 14 months, the new facility is expected to produce about 6,000 tons of chemicals per year.

February 2003