Archroma formed from Clariant's former Textile Chemicals, Paper Specialties and Emulsions businesses

Clariant has announced the closing of the sale of its Textile Chemicals, Paper Specialties and Emulsions businesses to SK Capital.  The three former Clariant businesses are now operating under the name Archroma.

After some adjustments for working capital and for the lower operational performance of some parts of the businesses, the total purchase price consideration of the transaction will amount to approximately CHF 425 million, mainly consisting of a cash inflow of CHF 355 million and the transfer of pensions and other liabilities.  Worldwide, 2900 employees will transfer to Archroma.

“The successful closing of the transaction is the next step in repositioning Clariant’s portfolio towards higher growth, higher profitability businesses”, said CEO Hariolf Kottmann. “Today, I would like to express my appreciation and thanks to all employees of the three businesses for their work. We wish them all the best and success in the new company.”

Archroma will continue to deliver specialised performance and colour solutions to the textile, paper, adhesives, coatings and construction industries.

“We’re open for business with a new name and a financially strong and knowledgeable parent who believes in our technology, brand and leading market positions,” says new Archroma CEO Alexander Wessels. “I’m proud to join a company with a 120-year long history of providing a portfolio of world-class products and driven by a team of highly talented people who bring fresh thinking and ideas to an industry hungry for innovation.”

“The transaction closing comes after a thorough preparation to ensure a seamless transition of the businesses from Clariant to new ownership. In addition, we believe that realigning the three businesses into a single integrated, market-focused and dynamic company will benefit both our employees and our customers.”