Oxiteno sells catalyst business to Clariant - report

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Tuesday, June 5, 2012

Oxiteno, the chemical unit of Brazilian fuels, chemicals and storage conglomerate Ultrapar (NYSE: UGP), has sold its catalyst assets to Swiss chemical company Clariant, according to a report in Brazilian financial daily Valor Econômico.

According to the report, Oxiteno created a new company in which it concentrated the assets and then transferred this company to Clariant.

Financial details were not available.

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The newspaper said that the catalyst business sold was located in Mauá in the state of São Paulo and was no longer strategic to Ultrapar, but was complementary for Clariant.