Clariant has sold its stake in SF-Chem, based in Pratteln, Switzerland, to Capvis, a Swiss-based private equity company. Capvis has paid CHF 22 million ($17.5 million) for the 25% stake and the transaction is expected to close at the end of September. The remaining 75% of SF-Chem, currently owned by the Basel-based agrochemical company Syngenta is also to be sold to Capvis.

The transaction is part of Clariant's strategy to sell businesses that are outside its core activities. Last year the company began its Transformation Programme which aims at selling several non-strategic businesses, cutting costs and making sustainable competitiveness improvements.

SF-Chem is a manufacturer of chemical intermediates for the pharmaceutical, agrochemical and specialty chemicals industries and employs around 360 people.

Clariant, headquartered in Muttenz near Basil, is a major global producer of specialty chemicals. Represented on five continents with over 100 group companies it employs about 26,500 people. SF-Chem divisions include Textile, Leather & Paper Chemicals, and Pigments & Additives.