Clariant continues strategy focus on portfolio management by selling its North American sodium hydrosulfite business
The sodium hydrosulfite semispecialties business is part of the Paper Business Unit within the Textile, Leather and Paper Chemicals division. Sodium hydrosulfite is used mainly as a bleaching agent in the paper industry. In 2001 the North American hydrosulfite business generated sales of about CHF 120 million.
The hydrosulfite product line has two U.S. production sites - one at Carlisle, South Carolina and one at Kalama, Washington State. Sales support is based at Charlotte, North Carolina and Trois Rivières, Canada. Chemtrade Logistics Inc. will take on the unit's nearly 120 employees. For Chemtrade, the acquisition is a further step towards forward integration and strengthens its position in the supply of the sodium hydrosulfite product line in the firm's regional markets.
With the sale of the sodium hydrosulfite product line Clariant follows its strategy to create value through focused diversification by active portfolio management, concentrating on higher value added businesses in sustainable growth areas.
The transaction, which still requires the approval of U.S. and Canadian antitrust authorities, should be completed by year-end.
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