Clariant AG : Clariant and SK Capital report on progress of the Textile, Paper and Emulsions activities divestment
(Thomson Reuters ONE) -
Clariant AG /
Clariant AG : Clariant and SK Capital report on progress of the Textile, Paper
and Emulsions activities divestment
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* New company to be called Archroma
* Archroma will be headquartered in Switzerland
* Separation process progressing well, closing expected end of September 2013
Muttenz/New York, 30 April 2013 - Clariant, a world leader in Specialty
Chemicals, and SK Capital, a private investment firm with a disciplined focus on
the specialty materials, chemicals and healthcare sectors, provided an update on
the separation process of Textile Chemicals, Paper Specialties and Emulsions.
Clariant announced that it agreed to sell the three businesses to SK Capital on
27 December 2012.
After closing of the transaction, the three businesses will be regrouped under a
new company with the name of Archroma. Archroma will be a world leading supplier
of products and solutions to the textile, paper, adhesives and coating
industries with a turnover of CHF 1.2 billion and approximately 3,000 employees.
The company will be headquartered in Switzerland, which will also host the
leadership of Archroma Paper Solutions. Archroma Textile Specialties will be
managed from Singapore and Archroma Emulsions Products will be managed from
Brazil.
The operational and legal separation, including the incorporation of legal
entities, licensing and registration activities, the establishment of IT
systems, and development of infrastructure and support services as well as
ensuring a seamless transition for the Archroma employees is proceeding well.
"The project is running full steam ahead. I am delighted to see the commitment
of the joint separation team as well as the employees of the businesses which
are highly motivated and are working on the separation with great
professionalism", says Clariant CFO Patrick Jany.
An important aspect in establishing the new company is obtaining merger control
and governmental approvals and authorizations, several of which remain pending.
To ensure a successful separation process that minimizes disruption for both
customers and employees, Clariant and SK Capital have targeted a closing of the
transaction at the end of the 3(rd) quarter of 2013. Barry Siadat, a Managing
Director of SK Capital, says: "The separation of the Archroma business from
Clariant is progressing well, and we are focused on closing the transaction once
all transition activities are completed. We remain jointly committed to provide
our customers with the highest quality products and services throughout this
period of transition."
CORPORATE MEDIA RELATIONS INVESTOR RELATIONS
Kai Rolker Ulrich Steiner
Phone +41 61 469 63 63 Phone +41 61 469 67 45
kai.rolker(at)clariant.com ulrich.steiner(at)clariant.com
Stefanie Nehlsen Siegfried Schwirzer
Phone +41 61 469 63 63 Phone +41 61 469 67 49
stefanie.nehlsen(at)clariant.com siegfried.schwirzer(at)clariant.com
Press Release deutsch:
http://hugin.info/100166/R/1696361/559401.pdf
Press Release english:
http://hugin.info/100166/R/1696361/559400.pdf
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originality of the information contained therein.
Source: Clariant AG via Thomson Reuters ONE
[HUG#1696361]
Unternehmensinformation / Kurzprofil:
Datum: 30.04.2013 - 07:00 Uhr
Sprache: Deutsch
News-ID 254148
Anzahl Zeichen: 4223
contact information:
Town:
Muttenz 1
Kategorie:
Business News
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