Clariant sells textile chemicals, paper and emulsions to US firm

ZURICH Thu Dec 27, 2012 1:11am EST

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ZURICH Dec 27 (Reuters) - Clariant AG said it is selling its textile chemicals, paper specialties and emulsions businesses to U.S.-based investment firm SK Capital for 502 million Swiss francs ($549.53 million).

The units recorded around 1.2 billion francs in 2012 sales, or roughly 15 percent of the Basel-based chemical firm's total revenue. The businesses had been on the block since early this year.

"For Clariant the transaction marks a significant milestone in the execution of its profitable growth strategy, after the acquisition of Sued-Chemie in 2011," Chief Executive Hariolf Kottmann said in a statement on Thursday.