Clariant, the major shareholder of Clariant Chemicals (India), has decided to divest its business in India and SK Capital has agreed to purchase the Business Units Textile Chemicals, Paper Specialties and the Business Line Emulsions from Clariant. This will include the transfer of the whole R&D, applications, sales and marketing organization along with production plants and sites worldwide.
This decision of Clariant will be subject to appropriate approvals under the Companies Act, 1956 and these will be initiated after approval of board of directors. Clariant Chemicals (India) has production facilities for manufacture of textile chemicals and produces paper specialties and emulsion products at its Roha plant.
Clariant Chemicals (India) represents a valuable repository of manufacturing and marketing experience. Its constituents were all well respected companies who played an invaluable role in the development of the textiles, leather, paints, plastics, printing inks and agrochemicals industries in India.