Clariant completes sale of Electronic Materials, Lancaster Synthesis and SF-Chem
After approval of all relevant authorities, Clariant has completed the sale of its AZ Electronic Materials business unit to The Carlyle Group, the sale of its worldwide business of Lancaster Synthesis Limited to Johnson Matthey Plc as well as the sale of its 25% minority stake in SF-Chem to Capvis as announced during the last months. The transactions are recorded in the 3rd quarter.
The sale of the AZ Electronic materials business unit includes manufacturing and research & development sites in Japan, Korea, Taiwan, Germany, France and the U.S. AZ Electronic Materials is a global supplier to the semiconductor and flat panel display industries and employs approximately 800 people.
The completion of the sale of Lancaster Synthesis to Johnson Matthey was delayed as a result of a fire at the UK premises which resulted in the destruction of its pilot scale manufacturing facility. Clariant and Johnson Matthey subsequently entered into negotiations which now have been concluded. Lancaster sells a wide range of organic chemicals mainly to industrial and academic research institutions and employs 225 people worldwide.
The sale of the 25% stake in SF-Chem to Capvis is part of Clariant's strategy to sell businesses that are outside its core activities. The company manufactures chemical intermediates for the pharmaceutical, agrochemical and specialty chemicals industries. It is headquartered in Pratteln/Switzerland, and employs around 360 people.
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