Clariant separates itself from Detergents & Intermediate Businesses
Swiss internationally operating Clariant and world leader in specialty chemicals signed an agreement on October 15, 2013 to divest its Detergents & Intermediate Businesses to ICIG International Chemical Investors Group (Luxemburg/Germany). Since 2004 ICIG has acquired 19 independent chemicals and pahrmaceutical business with total sales of around EUR 800 million. The group employs mor than 3500 employees and operates 19 manufacturing plants.
Total consideration of the sale amounts to CHF 58 million, out of which CHF 20 million will be in cash at closing. The transaction is subject to regulatory approvals. The business generated around CVHF 280 million in 2012 and employs around 660 employees in Europe, foremost in Germany and France.
This deal is following the successful and closed sale of the first three businesses (textile chemicals, paper specialties and emulsions businesses) only two weeks ago. The last divestment of the Business Unit Leather Services will be completed in the coming quarters.
According to Achim, Riemann, ICIG Managing Director, stated: “The Clariant Detergents & Intermediates business ideally complements our fine chemicals and custom manufacturing operations, providing also the basis for a new detergents platform together with our U.S. hydrotropes & batch sulfonation business of Nease Corp.” And his colleague Patrick Schnitzer added: “Together with the recently announced acquisition of Allessa we expect to realise significant synergies in the Rhein Main region, expecting to grow combined sales to more than EUR 1.2 billion”.