Clariant, Huntsman Gives Update on Planned Merger

Clariant (CLN) announced that its planned merger of equals with Huntsman Corporation (HUN) is on track, with key regulatory filings submitted for approval in US, EU and China.

The companies said that the preparations to create HuntsmanClariant, a leading global speciality chemicals company, are showing continued strong progress and are proceeding as planned with an unchanged closing targeted for December 2017/January 2018.

Clariant said that it has high confidence in meeting the synergy target in excess of $400m as well as the $25m tax saving target, combining both companies.

HuntsmanClariant has identified an additional organic sales revenues of around 2 percent per annum at approx. 20 percent EBITDA margin.

HuntsmanClariant's position as a leading global speciality chemicals company will further benefit from complementary R&D and technological expertise as well as shared knowledge in sustainability and cross-fertilization in innovation and technology capabilities. Highly complementary product portfolios creating production set-up and supply chain benefit opportunities in specific overlapping businesses.