Clariant Detergents & Intermediates Unit Sold to ICIG

Swiss specialty chemicals producer Clariant has completed the sale of its sale of its Detergents & Intermediates business to private equity group International Chemical Investors Group (ICIG) for 58 million Swiss francs.

The business located in the Höchst chemical park in Frankfurt trades as WeylChem. The new owners plan to merge the company with another Frankfurt-based chemical producer, Allessa, formerly known as Cassella. Both were part of the defunct chemical giant Hoechst.

"The successful sale promotes the repositioning of the company's portfolio," said Clariant CEO Hariolf Kottmann. The Swiss group, which divested its Textile Chemicals, Paper Specialties Emulsions businesses in September 2013, plans to complete the sale of its Leather Services business unit to Stahl Holdings of The Netherlands in the next few months, Kottmann said.