Specialty chemicals company Clariant announces that it has completed the divestment of its 50% stake in the joint venture which owns Scientific Design Company Inc. The transaction was announced on February 2, 2022.
Clariant’s 50% share in Scientific Design was valued at $130 million. Together with a profit-sharing agreement beginning on January 1, 2021 until the closing of the transaction, Clariant’s net cash inflow, before tax, and transaction cost amounts to $139.4 million, according to the company.
Clariant says it intends to use the proceeds of the divestment to invest in growth projects within its core business areas, execute a strategy along sustainability and innovation, fund performance improvement programs and strengthen Clariant’s balance sheet.
For more information, visit: www.clariant.com