Clariant Chemicals (India) has sold/transferred the business of textile chemicals, paper specialties and emulsions to Archroma India as on September 30, 2013 as a going concern and has received the total consideration of Rs 209.15 crore. The company’s at its meeting held on September 19, 2013, had considered and approved for the same.
Clariant and Archroma have entered into business continuation agreement whereby Clariant will run the business for a transitory period in trust for Archroma.
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.
