Clariant sells ethers to Shin-Etsu
6 Nov 2003
As part of its on-going restructuring program, Clariant is to sell its cellulose ethers business unit to Shin-Etsu Chemical for 241 million Euros.
The business, which generated sales of 187 million Euros in 2002, is part of Clariant's Functional Chemicals Division. Based in Wiesbaden, Germany, it employs about 500 people.
Last month, also as part of its goal to concentrate on specialty chemicals, Clariant announced that it was to close its hydrosulphite production facility in Widnes in the UK at the end of 2003.
Certain assets of that business will be sold to Silox SA based in Belgium who will continue to supply Clariant's Hydros and HY-BRITE brands from their own production facilities.
After the sale of its North American hydrosulphite business at the end of 2002, Widnes was the only remaining production facility. The closure of the Widnes plant affects 61 employees.
