Muttenz, May 1, 2014 - Clariant, a world leader in specialty chemicals, today announced the closing of the sale of its Leather Services business to Stahl Holdings B.V. as of April 30, 2014.
Stahl, majority owned by Wendel Group, is a Dutch company providing high-quality chemicals, dyes and coatings for leather and other applications. The combination of both businesses has created a global leader in leather chemicals with a higher growth profile than the standalone entities and with significant synergy potential.
As announced on October 30, 2013, Clariant has received a cash consideration and a 23% stake in Stahl for the sale of its Leather Services business. The minority shareholding will allow Clariant to participate in the upside potential of the enlarged Stahl. Wendel remains the principal shareholder of Stahl with approximately 70% of Stahl`s capital.
The closing of the Leather Services transaction marks the last major step in the repositioning of Clariant`s portfolio. The company has already divested the Business Units Textile Chemicals, Paper Specialties and the Business Line Emulsions on September 30, 2013, as well as the Detergents & Intermediates business on January 6, 2014.
| Corporate Media Relations | Investor Relations |
| Kai Rolker | Ulrich Steiner |
| Stefanie Nehlsen | Siegfried Schwirzer |
www.clariant.com
Clariant is a globally leading specialty chemicals company, based in Muttenz near Basel/Switzerland. On December 31, 2013 the company employed a total workforce of 18,099. In the financial year 2013, Clariant recorded sales of CHF 6.076 billion for its continuing businesses. The company reports in four business areas: Care Chemicals, Catalysis & Energy, Natural Resources, and Plastics & Coatings. Clariant`s corporate strategy is based on four pillars: managing businesses for profitability, research & development and innovation, growth in emerging markets, and repositioning of the portfolio.
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Source: Clariant AG via GlobeNewswire
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