Clariant sells its Polysilazane coatings business

Muttenz, 4 October 2011 – Clariant, a world leader in specialty chemicals, today announced the sale of its Polysilazane coatings business including the production site in India to AZ Electronic Materials (AZ) for a consideration of approximately EUR 4 million.

Under the terms of the agreement, Clariant retains the exclusive right to develop and use Polysilazanes for composite materials and ceramics. Clariant will continue its development in the area of ceramic precursors and fibers based on Polysilazanes. It is for this reason that Clariant also concluded a long-term supply agreement for Polysilazanes with AZ.

Christian Kohlpaintner, member of Clariant’s Executive Committee and responsible for Group Technology Services (GTS), noted: “The divestiture of the Polysilazane coatings business is an example how Clariant is continuously seeking to increase its operational efficiency. Though small, the transaction allows Clariant to actively manage its technology portfolio and to refocus management time on core new business development activities.”

www.clariant.com

Clariant is an internationally active specialty chemical company based in Muttenz near Basel. The group owns over 100 companies worldwide and employed approx. 16,200 employees as of December 31, 2010. In the financial year 2010, Clariant produced a turnover in excess of CHF 7 billion. Clariant is divided into twelve business units: Additives; Catalysis & Energy; Detergents & Intermediates; Emulsions; Functional Materials; Industrial & Consumer Specialties; Leather Services; Masterbatches; Oil & Mining Services; Paper Specialties; Pigments; Textile Chemicals.

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This release was published on openPR.