Clariant Chemicals (India) has received an approval for the proposal for sale of the businesses of textile chemicals, paper specialties and emulsion together with assets currently dedicated to the respective business of the company, subject to the approval of the shareholders, at a consideration of Rs 209.15 crore.
The board of company at its meeting held on March 26, 2013 has approved for the same. The board also approved the issue of notice of postal ballot to the shareholders under the Companies Act, 1956 for the same.
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.