Clariant Divests Textile Chemicals, Other Businesses
Specialty chemicals manufacturer Clariant International Ltd., Switzerland, has agreed to sell its
Textile Chemicals, Paper Specialties and Emulsions businesses for approximately $545 million to SK
Capital Partners, New York City.
In 2012, the businesses generated revenues totaling some $1.3 billion — 15 percent of Clariant's total group sales — and employed some 3,000 people in 35 countries.
Clariant is selling the businesses as part of a portfolio repositioning and also is in the process of divesting its Leather Services and Line Detergents & Intermediates business units.
"We are delighted to partner with the management and employees of these businesses to build upon their strong technology, brand, and leading market positions to more efficiently serve their large and growing global markets and customers," said Barry Siadat, managing director, SK Capital. "Our goal for the businesses is to continue to innovate, deliver the highest quality products and delight our customers globally."
The sale is expected to be completed by the end of the second quarter of 2013.