Clariant India to divest leather service business

Following the announcement of its Swiss parent company’s (Clariant International) plans to sell its Leather Services business to Stahl Holdings BV, Clariant Chemicals (India) Ltd informed BSE on October 30, 2013, that its board will consider divestment of the business in India. “Clariant Chemicals (India) Ltd, the Indian subsidiary of Clariant, is active in Leather service business and this has contributed about 16% of net sales revenue of the company for the year 2012. The proposal to divest its leather service business will be considered by the Board and will be subject to appropriate approvals, as may be required under Companies Act, 2013,” said the company in a BSE filing.
 
ALSO READ: Clariant plans to divest Leather Services Business to Stahl

Clariant International, a world leader in specialty chemicals, announced on October 30, 2013, that it plans to sell its Leather Services business to the Netherlands-based Stahl Holdings BV, a member of France-based Wendel Group & a provider of high quality chemicals, dyes and coatings for leather and other applications. The Clariant Leather Services business, which generated CHF 266 million in sales in 2012, employs 550 employees in 24 countries world-wide, predominantly in Germany, India and Italy.