Swiss based specialty chemicals maker, Clariant Chemicals has acquired the black pigment preparations portfolio from the Indian unit of German specialty chemicals company, Lanxess, on a slump sale basis for a consideration of R13.5 Cr.
The Carbon Black Dispersion unit is located Nagda, Madhya Pradesh and manufactures black pigment preparations used for processing of viscose fibre, which goes in the manufacture of mainly viscose-based apparels, knitwear, towels, bed-linen, etc.
The buy adds additional capacity to Clariant and expands it’s distribution networks. Clariant’s Indian unit is listed on BSE and has local pigment production activities at its Roha (Maharashtra) and Cuddalore (Tamil Nadu) sites. Last year, it made additional investment into the Roha unit to expand capacity.
Clariant India is into care chemicals, catalysis & energy, natural resources, and plastics & coatings, including businesses like pigments (coatings, printing and plastics and special applications), additives, industrial & consumer specialties, mining services and masterbatches.
Based out of Mumbai, the 900-plus employee strength company had generated sales of R10.08 Bn in 2014.
Lanxess India was incorporated in India in 2004 and operates as a wholly-owned subsidiary of Lanxess Deutschland GmbH. Globally Lanxess has been restructuring its business and had also announced layoffs last October.
It is also in talks with potential buyers, including Russia’s Nizhnekamskneftekhim and state-owned Saudi Arabian Oil Company (Saudi Aramco), for the sale of a minority stake in its synthetic-rubber unit.
By Tilak Devadiga