ICL today announced that its ICL Industrial Products segment has sold its Clearon Corp. business unit to Hui Yu Xin American Corp., a subsidiary of Dalian Hui Yu Xin Technology Development Co., Ltd., a Chinese specialty chemicals company.
Clearon is a leading manufacturer and supplier of water treatment chemicals for the pool and spa industry. The sale does not include ICL’s brominated biocides business for industrial applications which is a core activity and which ICL will continue to operate separately from Clearon. Clearon intends to continue to sell brominated biocide products to the pool and spa industry.
The sale of Clearon is part of ICL’s ‘Next Step Forward’ strategy to divest its non-core businesses to focus on its core businesses in the agriculture, food and engineered materials markets and to optimize its positioning in those markets.
Commenting on the transaction, ICL Industrial Products President, Charles Weidhas, stated, “We are delighted to sell Clearon to an industry leader like Dalian which intends to further develop Clearon’s world-class pool and spa water treatment business. We view Dalian as an optimal owner for Clearon, and believe it will build on Clearon’s strong reputation as a market leader with premier water treatment products and service capabilities. This is an optimal transaction for ICL and Dalian, as well as for Clearon’s dedicated managers and employees. We wish them much success going forward in the future.”
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).