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Clariant's pigment business transfer completed

 Last Update: 2021-08-06
 Source: Internet
 Author: User

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Sinochem News reported on June 15, Clariant announced that a consortium jointly established by Heubach Group and SK Capital Partners has acquired its pigment business, and the two parties have reached a final agreement
.

According to the agreement, the transaction is subject to the prescribed delivery conditions and the approval of the regulatory agency, and is expected to be completed in the first half of 2022

In addition, when the transaction is completed, Clariant will reinvest and become a 20% shareholder of the ultimate holding company together with Heubach and SK Capital
.

The combined company will become a global pigment company with approximately 3,000 employees, annual sales of more than 900 million euros, and strong global service and production capabilities

Clariant Chief Executive Officer Conrad said: "The agreement with Heubach and SK Capital represents the final step in the sale plan and product portfolio repositioning announced by Clariant in July 2018.

Clariant believes that through Heubach and SK Capital, the company We have found suitable buyers for customers, colleagues and other stakeholders
.

Now Clariant can devote ourselves to improving the revenue and profitability of its core business areas, namely, care chemicals, catalysts, and natural resources

Johann Heubach, CEO of Heubach Group, said: "Heubach has been in the pigment industry for more than 200 years.

Aaron Davenport, General Manager of SK Capital, said: "Clariant's Pigments business unit is the world's leading pigment solution provider
.

Together with our new partners, Heubach Group and Clariant, we see an important opportunity to create great value for all stakeholders

Once the transaction is completed, Clariant will finally complete its sale plan, marking Clariant's transformation into a high-value specialty chemicals company with above-market growth, higher profitability and stronger cash generation capabilities
.

The proceeds from the sale of the pigment business unit will be used to invest in growth projects in core business areas, implement sustainable development and innovation strategies, fund performance improvement plans, and strengthen Clariant’s balance sheet

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