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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.
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.