Clariant is repositioning its product portfolio and aims to focus on "markets with future perspectives and strong growth rates" in order to achieve the targets set for 2015.
Swiss specialty chemicals manufacturer Clariant is divesting its Paper Specialties, Emulsions, and Textile Specialties businesses to the US-based investment firm SK Capital Partners. The transaction is expected to close by the end of the second quarter of 2013. The total value of the deal amounts to CHF502m (€415m, $550m), of which CHF460m (€380m, $504m) in cash.
According to Clariant, the Paper Specialties unit is a leading provider of whiteness, color, coating and strength solutions for the printing and writing, tissue and packaging paper industry.
Clariant's Paper Specialties, Emulsions, and Textile Chemicals business lines together operate 25 facilities and employ approximately 3,000 people in 35 countries around the world. In the fiscal year 2012, the three businesses will generate an estimated CHF1,2bn (€993m, $1,3bn) in sales, equaling approximately 15% of total Group sales, Clariant explained.
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