MUTTENZ, Switzerland - Clariant, a specialty chemical manufacturer, announced Tuesday the sale of its Custom Manufacturing Business to International Chemical Investors Group (ICIG).
The terms of the transaction were not disclosed, and the sale is expected to be completed by mid-2007.
The sale of Clariant’s Custom Manufacturing Business is in accordance with its strategy to focus on its core competencies in colors, surfaces and performance chemicals. Clariant’s Custom Manufacturing Business supplies a wide range of intermediate and active ingredients for the agrochemicals, pharmaceuticals and polymers industries.
In 2006, the Custom Manufacturing Business had sales of approximately $178 million and about 490 employees.
Including the newly acquired Clariant businesses, ICIG will operate 14 production facilities located in Germany, the U.S., France, Belgium, Ireland and Poland with more than 2,500 employees worldwide.
At closing, the new autonomous entity will be one of the world’s leading suppliers to the agrochemicals industry with production sites in Germany and the U.S.