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Issue 22, 2022 - Clariant sells North American land oil business

 Last Update: 2023-02-01
 Source: Internet
 Author: User

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Clariant sells North American land oil business

Clariant announced that it has spun off its North American onshore oil business to Dorf Ketal
, an India-based specialty chemicals manufacturer and service provider.

The divestiture will further improve Clariant's portfolio structure and take a new step towards sustainability, while focusing Clariant's operations on specialty chemicals and value-added solutions
.

It is reported that the transaction will result in a non-cash impairment of approximately CHF 245 million, which will be recorded by the end of the year and will not affect profit
in the third quarter of 2022.
The earnings report said the transaction is still pending approval and is expected to close
in the first quarter of 2023.

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