Shareholders approve the sale of what remains of Cla - leatherbiz: Lea Leatherbiz

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Shareholders approve the sale of what remains of Clariant Pakistan

11/07/2013
Clariant’s subsidiary in Pakistan has informed the Karachi Stock Exchange (KSE) that it has received shareholder approval in an extraordinary general meeting held on July 11 to sell its remaining assets.

At an earlier extraordinary general meeting in March, the Pakistani subsidiary of the leather chemicals manufacturer won approval for the sale of plant, machinery, equipment and inventory at its factory at the Korangi industrial complex near Karachi.

Now shareholders have given the go-ahead for the sale of the remaining business, including properties at Korangi and in Lahore.

Parent company Clariant announced at the end of 2012 that it was seeking buyers for a number of its business units, including leather.


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