Clariant Will Exit Leather Chemicals

Nearing the completion of a restructuring program, Clariant has agreed to sell its leather chemicals business to Stahl, a Dutch provider of chemicals, dyes, and coatings to the leather industry. Under the proposed deal, Clariant would receive about $95 million and a 23% ownership stake in Stahl. Stahl’s main owner, the French investment firm Wendel, says the Clariant business’s $350 million in annual sales would bring Stahl’s sales to around $850 million. During the past year Clariant has divested businesses in chemicals for the paper, textiles, and detergent industries. CEO Hariolf Kottmann says the proposed leather chemicals sale “marks the last big step in repositioning the portfolio.”