SWITZERLAND: Clariant mulls textile chemicals sale
Chemical specialist Clariant is considering the sale of its textile chemicals unit as the company restructures following its recent acquisition of rival Süd-Chemie.
The Swiss company said it was “evaluating strategic options” for a number of business units, including textile chemicals, paper specialities, and emulsions, detergents and intermediates, but did not expect a quick sale.
The news came as Clariant announced full-year net profit had risen 31% to CHF251m (US$272m), with sales up 4% to CHF7.37bn, equating to a 16% organic sales rise.
The increase in sales was driven by price increases and acquisitions, offsetting a 5% reduction in volumes.
“In 2011, we started to transform Clariant into a highly profitable speciality chemicals company, based on a strong technology base and a solid financial position,” said Clariant CEO Hariolf Kottmann.
Clariant said it expected results for the first half of the new fiscal year to be lower than last year, but forecast an improvement in the second half of the year.
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