Clariant sells Healthcare Packaging business

Specialty chemical company Clariant has sold its Healthcare Packaging business to a newly-formed investment of Arsenal Capital Partners for approximately CHF 308 million ($309m).

“The divestment of the Healthcare Packaging business is the first step of our announced strategy to become a more focused and innovative specialty chemical company,” said Hariolf Kottmann, executive chairman of Clariant.

Three months ago Clariant confirmed that it planned to divest its Pigments and Masterbatches businesses by the end of 2020. It also temporarily suspended discussions with SABIC about a planned business combination consisting of Clariant’s Additives and high-value Masterbatches and parts of SABIC’s Specialties business. The firms blamed current market conditions.