Clariant sells sodium hydrosulphite
5 Dec 2002
Clariant has signed an agreement to sell its North American sodium hydrosulphite business to the Canadian firm Chemtrade Logistics of Ontario for $62 million.
The sodium hydrosulphite semispecialties business is part of the Paper Business Unit within the Textile, Leather and Paper Chemicals division. Sodium hydrosulphite is used mainly as a bleaching agent in the paper industry.
In 2001, the North American hydrosulphite business generated sales of about CHF120 million.
The hydrosulphite product line has two US production sites - one at Carlisle, South Carolina and one at Kalama, in Washington State. Sales support is based at Charlotte, North Carolina and Trois Rivieres, Canada.
Chemtrade Logistics will take on the unit's nearly 120 employees.
With the sale of the sodium hydrosulphite product line, Clariant is following a strategy to concentrate on 'higher value-added' businesses.
The transaction, which still requires the approval of US and Canadian antitrust authorities, should be completed by year-end.
