Clariant sells non-core operations

Hamish Champ

Published: January 2, 2013 6:00 am ET

Related to this story

Topics Materials Mergers & Acquisitions Suppliers
Companies & Associations

MUTTENZ, SWITZERLAND (Jan. 2, 10:30 a.m. ET) — Clariant, the Swiss-based specialty chemicals group, has sold off a number of its non-core operations to a U.S. private equity firm for 502 million Swiss francs ($550 million).

Hariolf Kottmann, Clariant’s chief executive, said the sale of the group’s textile chemicals, paper specialties and emulsions businesses to SK Capital marked “a significant milestone in the execution of [our] profitable growth strategy, after the acquisition of Süd-Chemie in 2011.”

Kottmann added: “I am pleased that we are able to execute this divestment faster than originally expected. By the end of 2013, Clariant will be an even more profitable company than today, generating a majority of sales in non-cyclical growth businesses.”

The three businesses were expected to generate 1.2 billion francs ($1.31 billion) in sales in 2012, around 15 percent of Clariant’s total sales, and estimated earnings before interest, tax, depreciation and amortization (Ebitda) of 80 million francs ($87.7 million).

Barry Siadat, a managing director at SK Capital, said his firm was delighted to partner with the management and employees of the three businesses, “to build upon their strong technology, brand, and leading market positions to more efficiently serve their large and growing global markets and customers.

“We believe these businesses provide an attractive platform to capitalize on their overlaps in technology, manufacturing, supply chain and logistics.”

SK Capital specializes in investments in the specialty materials, chemicals and healthcare sectors.


Comments

Clariant sells non-core operations

Hamish Champ

Published: January 2, 2013 6:00 am ET

Post Your Comments


Back to story


More stories

Image

PolyOne launches Geon BIO PVC using soy-based materials

April 24, 2015 11:48 am ET

More than a decade of research is paying off for Battelle Memorial Institute in the form of Geon BIO PVC compounds from PolyOne Corp.    More

Image

Study suggests infants at lower risk from BPA exposure than expected

April 23, 2015 4:58 pm ET

A new study shows that newborn babies may have less risk from bisphenol A exposure than originally thought.    More

Image

Braskem and Odebrecht reconsidering West Virginia plastics project

April 23, 2015 2:54 pm ET

Brazilian firms Braskem and Odebrecht have confirmed that they are re-evaluating Project Ascent, the major plastics and petrochemicals project they...    More

Image

DuPont center in India gets LEED Certification

April 23, 2015 1:07 pm ET

DuPont Co.'s Knowledge Center in Hyderabad, India, was awarded LEED certification by the U.S. Green Building Council.    More

Image

SiVance opens new R&D lab

April 23, 2015 12:07 pm ET

Milliken & Co. unit SiVance LLC has opened a new research and development lab for silicone and silane technologies in Gainesville, Fla.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events