Clariant, a world leader in specialty chemicals, has signed an agreement to divest its Detergents & Intermediates business to International Chemical Investors Group (ICIG). The total consideration of the sale amounts to CHF 58 million, out of which 20 million will be in cash at closing. The transaction is subject to regulatory approvals.

Hariolf Kottmann, CEO of Clariant says, “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”, adding that such repositioning of the portfolio will enable the group to focus on its strong market positions as well as its growth strategies to achieve the targets set for 2015. In lieu of the growth strategies, Clariant has divested the Business Units Textile Chemicals, Paper Specialties and the Business Unit Emulsions on 30 September, 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. In 2012, the Detergents & Intermediates business generated around CHF 280 million in reported sales. The business employs around 660 employees in Europe, predominantely in Germany and France.

“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, ” says ICIG Managing Director Achim Riemann. “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 EUR 1.2 billion”, adds ICIG Managing Director Patrick Schnitzer.