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Clariant Announced Sale of Cellulose Ethers completed

Published on 2004-01-08. Author : SpecialChem

Muttenz, Switzerland - Clariant announced on Monday that the sale of the Cellulose Ethers business unit to the Japanese company Shin-Etsu Chemical Co. Ltd. was completed as planned at the end of last year. The relevant competition authorities have given the green light for the transaction. The sale of the business unit for a price of EUR 241 million (or about CHF 370 million) includes the production facilities in Wiesbaden, Germany, and the Tylose® brand.

The Cellulose Ethers business unit was part of Clariant's Functional Chemicals division and employs about 500 people. Cellulose Ethers generated sales of EUR 187 million in fiscal 2002.

The completion of the transaction on schedule marks a first important step in the implementation of Clariant's divestment program announced at the semi-annual media conference on August 5, 2003.

Source: Clariant

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