Clariant signs definitive agreement to sell its Quats business
MUTTENZ, AUGUST 31, 2022
Clariant, a specialty, sustainable and innovative chemicals company, today announced that it has entered into a definitive agreement to divest its Quats business to Global Amines Company Pte. Ltd., a 50/50 joint venture between Clariant and Wilmar, the world leader in agricultural and oleochemical activities in Asia.
This disposal is an additional step in the transformation of Clariant’s portfolio to focus its activities solely on specialty chemicals. Quaternaries are quaternary ammonium compounds, a group of chemicals used for a variety of purposes, including as preservatives, surfactants, and antistatic agents. Quats are used in a wide range of commercial, industrial and consumer products. The company maintains an excellent reputation as a leading supplier of quats with proprietary technology and a good reputation for service.
The transfer will be a sale of assets from the sites in Germany, Indonesia and Brazil and will provide for tolling arrangements where necessary. The sale price, subject to customary closing conditions, is set at $113 million. The transaction is subject to regulatory approvals and customary closing conditions. The transaction is expected to be finalized in the first half of 2023.
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This press release contains certain statements that are neither reported financial results nor other historical information. This document also includes forward-looking statements. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond Clariant’s ability to control or accurately estimate, such as future market conditions, currency fluctuations, the behavior of other market participants, stock governmental regulatory authorities and other risk factors such as: the timing and strength of new product offerings; competitors’ pricing strategies; the Company’s ability to continue to receive adequate revenue from its suppliers on acceptable terms, if at all, and to continue to obtain sufficient funding to meet its liquidity needs; and changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, globally, regionally or nationally . Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. Clariant undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of these documents.
Clariant is a focused, sustainable and innovative specialty chemicals company based in Muttenz near Basel/Switzerland. As of December 31, 2021, Clariant had 11,537 employees and recorded sales of CHF 4.372 billion during the year for its continuing operations. The company reports in three business areas: servicing chemicals, catalysis and natural resources. Clariant’s corporate strategy is guided by the overarching goal of “greater chemistry – between people and planet” and reflects the importance of connecting customer focus, innovation, sustainability and people. .
Clariant Media Release_Cession Quats Business_20220831_EN
Clariant press release_Sale Quats Business_20220831_DE