Clariant ceases leather services business

By

Matthieu Guinebault

Published
May 8, 2014

Having sold its textile chemicals business to Archroma, Clariant has now announced that the termination of its leather services business, which it has sold to the Dutch company Stahl Holdings. Through the transfer, the pigment and textile-related products manufacturer will get a 23% stake in Stahl, still majority owned by Wendel Group.

"The closing of the Leather Services transaction marks the last major step in the repositioning of Clariant's portfolio,” indicates the corporation’s board. "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.”

During its last fiscal year, Clariant had a turnover of 4.9 billion euros (6.08 billion Swiss francs). Based on the strength of its repositioning, the company maintaining its 2015 EBITDA target of at least 17%.