Clariant Chemicals closes Nandesari manufacturing unit in Gujarat

29 Jun 2018 Evaluate

Clariant Chemicals India has permanently closed a manufacturing unit situated at Nandesari, Vadodra, Gujarat with effect from June 28, 2018. The operations thereto have been consolidated at the company's existing unit at Village Rania, Panchmahal, Gujarat and the closure does not have any adverse effect on the operations of the company.

Besides, the company has on June 28, 2018 had entered into an agreement to assign the land and sheds thereon of the Nandesari Unit to Sud Chemie India, a related party for a consideration of Rs 7.33 crore which has been arrived at on an arm's length basis. Necessary approvals of the authorities including that of GIDC are being obtained.

Clariant Chemicals (India) is one of India's leading specialty chemicals companies and is a major player in pigments, textile chemicals and leather chemicals.

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