Clariant Completed Sale of North American hydrosulfite business

09-Jan-2003

Clariant announced that the sale of its North American hydrosulfite business to the Canadian firm Chemtrade Logistics Inc. in Toronto, Ontario was completed, as planned, at the end of 2002. The U.S. and Canadian antitrust authorities have both approved the transaction. The sale, for a price of US$ 62 million, includes two U.S. production sites in Carlisle, South Carolina and Kalama, Washington, as well as two sales offices in Charlotte, North Carolina and Trois Rivières, Canada. Chemtrade Logistics Inc. will take on the approximately 120 employees of the hydrosulfite product line.

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.

With the sale of the North American 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.

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