Clariant to sell US specialty silicones business

31 August 2009 23:14  [Source: ICIS news]

HOUSTON (ICIS news)--Clariant will sell its US-based specialty silicones business to New York-based private equity firm GenNx360 Capital Partners, the Swiss specialty group said on Monday.

The silicones business will be renamed SiVance, and the deal will become effective on Tuesday. Financial terms were not disclosed.

“We have decided to divest this business because its focus on developing complex but small-quantity silicone products is not closely aligned to Clariant’s business model and strategic direction,” said Ken Golder, Clariant’s North American region head.

The sale includes the company’s facility in Gainesville, Florida. The business specialises in the use of silicone-based chemistry for ingredients used in the construction, personal care, pharmaceutical and electronics markets, Clariant said.

All of the 120 business employees are expected to transfer to SiVance, Clariant said.

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By: Ben DuBose
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