Clariant’s leather chemicals sales unharmed by long-announced market exit
30/04/2014
On October 30, 2013 the group agreed to sell its leather chemicals division to rival manufacturer Stahl. Both parties expect to conclude the deal in the second quarter of this year. The combined entity will be run by Stahl, but Clariant will retain a 23% stake.
In its most recent results, Clariant compared its leather chemicals sales this time to a total of CHF 421 million in the first quarter of 2013, making it clear that the previous year’s figure included its results in other “discontinued operations” such as textiles, paper, emulsions, detergents and intermediates, which Clariant has since sold.
This means that the CHF 66 million for the first quarter this year was contributed by leather on its own. Annualising the figure to CHF 264 million, it shows that sales of leather chemicals have held up very strongly for Clariant, in spite of several years of the group playing down leather’s importance.
In 2011, Clariant’s leather business unit achieved full-year sales of CHF 251 million, while the corresponding figure for 2010 was CHF 191 million.
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