Clariant completes sale of Detergents & Intermediates business to ICIG

Clariant, a world leader in specialty chemicals, has completed the deal to sale its Detergents & Intermediates business to International Chemical Investors Group (ICIG) for CHF 58 million, out of which CHF 20 million in cash became due at closing. Worldwide, 660 employees were transferred from Clariant to the new ICIG business, which from now on will operate under the WeylChem brand umbrella. In October 2013, Clariant had signed an agreement to divest its Detergents & Intermediates business to ICIG.
 
“The successful sale promotes the repositioning of the company’s portfolio. As part of Clariant’s profitable growth strategy, we will focus on markets with strong growth rates and good perspectives for the future and on businesses with a competitive position, resulting in solid pricing power,” said Hariolf Kottmann, CEO, Clariant.
 
In this context, the company has already divested the Business Units Textile Chemicals, Paper Specialties and the Business Line Emulsions on September 30, 2013. The divestment of the Business Unit Leather Services to Stahl Holdings B.V. is expected to close in the next few months.