Clariant AG has acquired the organic pigment business of Jiangsu Multicolor Fine Chemical Co. Ltd., and will use that business to build a new pigment plant in China.
The business Clariant is buying makes high-performance pigments for plastics, coatings and printing inks. The unit has annual sales of about $33 million. No purchase price was disclosed in the deal.
The new pigment plant will be located in Zhenjiang, China. Clariant officials said in a Sept. 30 news release that the plant “will be designed to ensure highest yields, lowest cost and the highest efficiency in terms of sustainable operations.”
The acquisition and investment in a new plant “allows Clariant to expand its pigments activities in China in order to have better access to customers in the region,” officials added. Clariant CEO Harriolf Kottmann added in the release that the actions “are in line with Clariant's strategy of taking advantage of growth opportunities in Asia.”
Clariant is based in Muttenz, Switzerland. The firm operates 11 business units — including one of the world's largest masterbatch concentrates businesses — and posted sales of about $6.6 billion in 2012.