Clariant divests detergents & intermediates business to ICIG

Clariant, a world leader in specialty chemicals, has signed an agreement to divest its Detergents & Intermediates business to International Chemical Investors Group (ICIG), for CHF 58 million, out of which 20 million will be in cash at closing. The transaction is subject to regulatory approvals. In 2012, the Detergents & Intermediates business generated around CHF 280 million in reported sales. The business employs around 660 employees in Europe, predominantly in Germany and France.
 
“Having successfully closed the sale of the first three businesses two weeks ago, the divestment of Detergents & Intermediates marks the next step in streamlining our portfolio. Once completed, the repositioning of the portfolio will allow the group to focus on exploiting its strong market positions and intensify growth by focusing on customers and innovation,” said Hariolf Kottmann, CEO, Clariant.
 
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Achim Riemann, Managing Director, ICIG, commented, “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 US hydrotropes & batch sulfonation business of Nease Corp. Together with the recently announced acquisition of Allessa we expect to realise signifcant synergies in the Rhein Main region, expecting to grow ICIG combined sales to more than Euro 1.2 billion.”
 
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Repositioning Clariant’s portfolio is an essential part of the company’s profitable growth strategy. To achieve the targets set for 2015, Clariant will focus on markets with future perspectives and strong growth rates and on businesses that have a competitive position, resulting in strong pricing power. In this context, the company has divested the Business Units Textile Chemicals, Paper Specialties and the Business Unit Emulsions on 30 September 2013 and signed an agreement for the Business Unit Detergents & Intermediates. With the planned divestment of the Business Unit Leather Services, the repositioning of Clariant’s portfolio will be completed in the coming quarters.