31 August 2009 23:14 [Source: ICIS news]
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 ?xml:namespace>
All of the 120 business employees are expected to transfer to SiVance, Clariant said.
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