Swiss chemicals maker Clariant may buy Indias Galaxy Surfactants

A traffic sign stands in front of a plant of Swiss specialty chemicals company Clariant in the town of Muttenz near Basel February 16, 2010. Clariant on Tuesday slashed another 500 jobs, or 3 percent of its workforce, and saw no sustainable recovery this year after reporting a narrower net loss of 67 million Swiss francs ($62 million) which was roughly in line with expectations. REUTERS/Arnd Wiegmann (SWITZERLAND - Tags: BUSINESS EMPLOYMENT) - RTR2ACY4

Swiss speciality chemicals maker Clariant AG is in advanced talks to acquire Mumbai-based chemical manufacturer Galaxy Surfactants Ltd, two people aware of the development said.

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