NEWS

(05/02/2013 / sha)

Clariant: Progress in divestment of Textile, Paper and Emulsion business

Clariant provided an update on the separation process of Textile Chemicals, Paper Specialties and Emulsions and announced that it agreed to sell the three businesses to SK Capital on 27 December 2012.

 
 

After closing of the transaction, the three businesses will be regrouped under a new company with the name of Archroma. Archroma will be a world leading supplier of products and solutions to the textile, paper, adhesives and coating industries with a turnover of CHF 1.2 billion and approximately 3,000 employees.

The company will be headquartered in Switzerland, which will also host the leadership of Archroma Paper Solutions. Archroma Textile Specialties will be managed from Singapore and Archroma Emulsions Products will be managed from Brazil.

"The project is running full steam ahead. I am delighted to see the commitment of the joint separation team as well as the employees of the businesses which are highly motivated and are working on the separation with great professionalism", says Clariant CFO Patrick Jany. To ensure a successful separation process that minimizes disruption for both customers and employees, Clariant and SK Capital have targeted a closing of the transaction at the end of the 3rd quarter of 2013.