Clariant sells Venezuelan unit in restructuring move
Photo: Reuters
Swiss specialty chemicals company Clariant has sold its Venezuelan business to CMV Quimica for about 1.4 million Swiss francs ($1.76 million) as part of a cost-cutting and restructuring strategy.
The unit employed around 60 people and generated 3 million francs in 2024, News.Az reports, citing Reuters.
The sale will reclassify a 236 million franc translation adjustment, reducing net profit without affecting cash flow.
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