24. Disposals
Audited information- Index
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Activities not qualifying as discontinued operations
In this section, disposals of subsidiaries, associates and activities are reported that do not qualify as discontinued operations in the sense of IFRS 5. The following disposals took place in 2017 and 2016:
On 30 November 2017 Clariant sold its shares (36.03%) in New Zealand based Chemcolour Industries (NZ) Ltd. to Azelis Australia PTY Ltd. for a total consideration of CHF 8 million. The profit recorded on the transaction in 2017 amounted to CHF 3 million.
On 31 October 2016 Clariant sold its POS tinter colorants business pertaining to the Business Unit Pigments to the Canada-based ICTC Group. The transaction comprised assets in Italy and India mainly. The transaction price amounted to less than CHF 1 million and resulted in a loss of CHF 2 million.
On 30 December 2016 Clariant sold its 100% shareholding in Clariant Insurance Ltd (Liechtenstein) to R&Q Insurance (Malta) Ltd for a total consideration of CHF 9 million. A loss of CHF 1 million was realized on the transaction.
The result from disposals not qualifying as discontinued operations is reported under »Selling, general and administrative costs« in the income statement.
Other assets held for sale
An amount of CHF 22 million relates to property, plant and equipment held for sale in Turkey, Italy and in China (2016: CHF 7 million).
The International Financial Reporting Standards (IFRS) are international accounting standards. VIEW ENTIRE GLOSSARY
Pigments are substances used for coloring; they are used in a technical manner, for example in the manufacture of dyes, varnishes, and plastics. VIEW ENTIRE GLOSSARY