Swiss Clariant closes sale of detergents and intermediates unit

07 January 2014 06:52 Source:ICIS News

SINGAPORE (ICIS)--Clariant has closed the sale of its detergents and intermediates business to International Chemical Investors Group (ICIG) for Swiss franc (Swfr) 58m ($64m), the Switzerland-based specialty chemicals company said on Tuesday.

Globally, 660 employees were transferred from Clariant to the new ICIG business, which from now on will operate under the WeylChem brand umbrella.

The deal is part of the company’s strategy to reposition its business portfolio and follows the sales of the firm’s textile chemicals and paper specialities business units as well as its emulsions business line.

Clariant expects to complete the divestment of leather services business unit to Stahl Holdings “in the next few months”, it added.

($1 = Swfr0.90)

By Nurluqman Suratman