The key financial data of the Group’s principal associates is as follows:

In 2014, Clariant sold its Leather Service Business to the Netherlands-based Stahl group for a cash consideration and a 24% stake in the acquiring group. Stahl is a producer of high-quality chemicals, dyes, and coatings for leather and other applications and has about 1 700 employees.

In 2017, Stahl engaged in a share capital increase, in which Clariant did not participate. As a result Clariant’s stake decreased from 24% to 19.7% and a dilution gain amounting to CHF 22 million was recognized in the income statement as a part of »Income from associates and joint ventures«.

In December 2018 Clariant sold 5% of it’s 19.7% participation in Stahl Lux 2 SA at a profit of CHF 14 million, which was classified as an associate until this point in time. Subsequently the remaining stake in Stahl Lux 2 was revaluated to the fair value of CHF 173 million and reclassified to Financial Assets.

The Infraserv companies were set up by the former Hoechst group to cater to the infrastructure needs of its subsidiaries in Germany prior to 1997. The shareholdings in associates summarized under »Others« concern mainly companies specializing in selling Clariant products.

On 31 December 2018, accumulated unrecognized losses amounted to CHF 4 million (2017: CHF 6 million).

The key financial data of the Group’s principal joint ventures is as follows:

Scientific Design Company Inc. is a producer of ethylene and oxide catalysts headquartered in the United States and has around 140 employees. Co-owner is the Saudi Arabia-based Sabic group.

Süd-Chemie India Pvt Ltd (SCIL) is a producer of syngas, air purification and refinery catalysts. It has around 400 employees and is headquartered in India. It is co-owned by private investors based in India.

As of 1 April 2017, this company became a fully consolidated subsidiary of the Clariant Group, see note 25, Acquisitions. The table shows the activities of SCIL for the first three months of 2017.