Chemical Weekly: Clariant and SABIC have agreed to temporarily suspend discussions on the intended business combination High Performance Materials (HPM), consisting of Clariant’s Additives and high value Masterbatches and parts of SABIC’s Specialties business. The decision, attributed by the two companies to “the current market conditions,” “was taken to safeguard the best interests of the respective shareholders of both companies,” Clariant said in a press release.
To also dispose of the entire Masterbatches business
As part of the portfolio upgrade announced in September 2018, Clariant will continue with the divestment of the Pigments business and has decided to also divest the entire Masterbatches business including both, standard and high value Masterbatches. These divestments are expected to be concluded unchanged by end 2020. The proceeds from the divestments will be used to invest in innovations and technological applications within the core Business Areas, to strengthen Clariant’s balance sheet and to return capital to shareholders.
Clariant will now focus on its core Business Areas – Care Chemicals, Catalysis & Natural Resources.
“The new Clariant will benefit from a stronger focus on differentiated, customer-specific products and offerings with attractive growth prospects and above average value potential. With this more streamlined portfolio structure Clariant will be better able to intensify the focus on customer experience and fast, reliable customer fulfilment, as well as on the development of innovative and sustainable products and applications. This will generate a competitive advantage for customers and hence enable Clariant to realise above-market growth, higher profitability and stronger cash generation,” Clariant stated in a press release.
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