Clariant Chemicals executes business transfer agreement with Stahl India

Clariant Chemicals (India) has executed the business transfer agreement, and transferred the business of leather services as a going concern on slump sale basis to Stahl India for a lump-sum consideration of Rs 156 crore effective from May 01, 2014. Recently, Clariant entered into an agreement to sell its land located in Kolshet, Thane aggregating to about 87 acres to Ishwer Realty and Technologies, a subsidiary of Lodha Developers for an aggregate consideration of Rs 1,154.25 crore. Clariant Chemicals (India) represents a valuable repository of manufacturing and marketing experience. Its constituents were all well respected companies who played an invaluable role in the development of the textiles, leather, paints, plastics, printing inks and agrochemicals industries in India.