French investment firm Wendel is looking at options to sell off its leather-chemicals company Stahl, valued at approximately $1.1 billion, according to undisclosed sources.
Following Wendel's merger with Clariant's rival leather-chemicals division in 2013, the Stahl business was expanded to give it more scope to compete with Asian producers.
However, an email statement from the company stated: "Stahl is not for sale at the moment, and any potential interest from third parties underlines the success of the business strategy."
In addition to handbags, shoes and textiles, Clariant, based in Muttenz, Switzerland, and Netherlands-based Stahl supply treatments for the furniture and automotive sectors.
