Clariant acquires Lanxess black pigment portfolio; stock up

MUMBAI: Shares of Clariant Chemicals gained momentum and and surged as much as 1.87 per cent in intraday trade as the company acquired the black pigment preparations portfolio of Lanxess.

Clariant Chemicals acquired the “Carbon Black Business from Lanxess India Private Limited, comprising of the Carbon Black Dispersion plant located at Nagda together with its respective assets, liabilities and employees as going concern on a slump sale basis for a lump sum consideration of Rs. 13.5 crores, effective from April 1, 2015,” the company said in a filing to stock exchanges.

This product line of Lanxess manufactures black pigment preparations used for processing of viscose fibre, which goes in the manufacture of mainly viscose-based apparels, knitwear, towels, bed-linen, etc.