In a bid to expand its presence in China, Swiss chemicals maker Clariant AG has acquired the pigments business of China’s Jiangsu Multicolor Fine Chemical Co. Ltd., and is building a new chemical plant in that country.
Jiangsu Multicolor Fine Chemical Co. makes high performance pigments and pigment preparations. The business, which has annual sales of around US30 million, has customers in the coatings, plastics and printing ink industries.
Clariant will also build a Pigment PV23 plant in Zhenjiang, Jiangsu province, China.
The terms of the deal have not been disclosed.
The acquisition and the new plant will allow Clariant to expand its pigments and pigment-preparation activities in China, in order to have better access to customers in the region, Clariant said.
"It will strengthen our ability to capture the growing demand for high performance pigments and pigment preparations in China and in other key markets in Asia", said Marco Cenisio, head of Clariant's pigments business unit.