Clariant and Kilfrost Scratch Europe De-icing Deal
Swiss specialty chemicals producer Clariant and Newcastle, UK-based Kilfrost have terminated the planned sale of the British company’s European aircraft and rail de-/anti-icing businesses to the Muttenz-based group. The partners to the envisioned deal said they had previously expected it to result in benefits to shareholders, customers and other stakeholders but this was no longer the case. They cited “commercial reasons” as well as challenges in obtaining UK regulatory approval.
In 2015, Clariant acquired the Kilfrost de-icing business in North America and Asia for £2.4 million. While the business profited from one of the harshest winters ever in North America in fiscal 2015, two successive mild winters in Europe put the company in a difficult position,” management said in its last financial results announcement.
