Israel Chemicals (TASE: ICL: NYSE: ICL) today announced that its ICL Industrial Products division has sold its Clearon Corp. business unit to Hui Yu Xin American Corp., a subsidiary of Chinese specialty chemicals company Dalian Hui Yu Xin Technology Development Co. Ltd. No financial details were disclosed.
Clearon manufactures and supplies water treatment chemicals for the pool and spa industry. The sale does not include ICL's brominated biocides business for industrial applications which is a core activity and which ICL will continue to operate separately from Clearon. Clearon intends to continue to sell brominated biocide products to the pool and spa industry.
The sale of Clearon is part of ICL's 'Next Step Forward' strategy to divest its non-core businesses to focus on its core businesses in the agriculture, food and engineered materials markets and to optimize its positioning in those markets.
ICL Industrial Products president, Charles Weidhas said, "We are delighted to sell Clearon to an industry leader like Dalian which intends to further develop Clearon's world-class pool and spa water treatment business. We view Dalian as an optimal owner for Clearon, and believe it will build on Clearon's strong reputation as a market leader with premier water treatment products and service capabilities."
Published by Globes [online], Israel business news - www.globes-online.com - on March 2, 2016
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