Clariant has announced the sale of its subsidiary Clariant (Acetyl Building Blocks) GmbH & Co KG to the Glide Buy-Out Fund for CHF 74 million (EUR 48 million). The sale is expected to close in the Third Quarter 2005 subject to approval by the relevant competition authorities.
The transaction is part of Clariants strategy to sell businesses that are outside its core activities. Clariant (Acetyl Building Blocks) GmbH & Co KG (CABB), at present, part of Clariants Life Science Chemicals Division, is a focused and leading company in products based on chlorine and acetyl chemistry. CABB holds a strong market and technology position for its main product, monochloroacetic acid (MCAA), an important intermediate for applications in industries such as agro chemistry, detergents, plastics and pharmaceuticals.