Clariant announced the closing of the sale of its Textile Chemicals, Paper Specialties and Emulsions businesses to SK Capital. Starting October 1, 2013, the three former Clariant businesses are now operating under the name Archroma. After some adjustments for working capital and for the lower operational performance of some parts of the businesses, the total purchase price consideration of the transaction will amount to approximately CHF 425 million, mainly consisting of a cash inflow of CHF 355 million and the transfer of pensions and other liabilities. Worldwide, 2’900 employees will transfer to Archroma.
“The successful closing of the transaction is the next step in repositioning Clariant’s portfolio towards higher growth, higher profitability businesses,” said CEO Hariolf Kottmann. “Today, I would like to express my appreciation and thanks to all employees of the three businesses for their work. We wish them all the best and success in the new company.”