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| Exchange Disseminated Time | Clariant Chemicals (India) Ltd has informed BSE that Clariant international, a world leader in specialty chemicals, the holding Company of Clariant Chemicals (India) Ltd., announced on October 30, 2013, that it plans to sell its Leather Services business to Stahl. Stahl Holdings B.V., a member of France-based Wendel Group, is a Dutch Company providing high quality chemicals, dyes and coatings for leather and other applications. The combination of both businesses would create a global leader in leather chemicals with a larger and higher growth profile than the stand-alone entities and with significant synergy potential.
Clariant Chemicals (India) Ltd. is active in Leather service business and this has contributed about 16% of net sales revenue of the Company for the year 2012. The proposal to divest its leather service business will be considered by the Board and will be subject to appropriate approvals, as may be required under Companies Act, 2013. |
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