Clariant sells specialty silicones business to affiliate of GenNx360
Capital Partners
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Charlotte, N.C., August 31, 2009 - Clariant has sold its specialtysilicones business, including its Gainesville Florida facility, toSiVance LLC, an affiliate of New York-based GenNx360 CapitalPartners. GenNx360 is a private equity firm focused on industrialbusiness-to-business companies. Financial terms of the transaction,which is effective September 1, were not disclosed.The Gainesville-based business specializes in the use ofsilicone-based chemistry for ingredients used in construction,personal care, pharmaceutical and electronics markets. The businessemploys about 120 people, all of whom are expected to transfer toSiVance. Clariant acquired the specialty silicones business andthe Gainesville site in 2000 through the company's purchase ofUK-based BTP."The sale is good news for Gainesville site employees, for SiVanceand GenNx360 Capital Partners and for Clariant," says Clariant'sNorth American region head Ken Golder. "We have decided to divestthis business because its focus on developing complex butsmall-quantity silicone products is not closely aligned to Clariant'sbusiness model and strategic direction." ENDSMedia ContactsConnie Knight Phone +1 704 331 7114 Email connie.knight(at)clariant.comNigel Thornton Phone + 41 61 469 67 43 Email nigel.thornton(at)clariant.comInvestor Relations ContactsUlrich Steiner Phone +41 61 469 67 45 Email ulrich.steiner(at)clariant.comClariant - Exactly your chemistry.Clariant is a global leader in the field of specialty chemicals.Strong business relationships, commitment to outstanding service andwide-ranging application know-how make Clariant a preferred partnerfor its customers.Clariant, which is represented on five continents with over 100 groupcompanies, employs around 20,000 people. Headquartered in Muttenznear Basel, Switzerland, it generated sales of CHF 8.1 billion in2008. Clariant's businesses are organized in four divisions: Textile,Leather & Paper Chemicals, Pigments & Additives, Masterbatches andFunctional Chemicals.Clariant is committed to sustainable growth springing from its owninnovative strength. Clariant's innovative products play a key rolein its customers' manufacturing and treatment processes or else addvalue to their end products. The company's success is based on theknow-how of its people and their ability to identify new customerneeds at an early stage and to work together with customers todevelop innovative, efficient solutions.www.clariant.comAbout GenNx360 Capital PartnersNew York-based GenNx360 Capital Partners is committed to deliveringsuperior returns to investors in all its portfolio companies. Thefirm acquires companies with proven and sustainable business modelsin expanding industries and implements the required operating changesto deliver cost efficiencies and grow reinvestment opportunities. Thefirm's proven business methodology is based on more than 100 years ofpartner experience successfully running global businesses. For moreinformation, please visit www.gennx360.com.www.gennx360.biz --- End of Message ---Clariant AGRothausstrasse 61 Muttenz 1 SwitzerlandISIN: CH0012142631; Index: SMI, SMIEXP, SPI, Swiss All Share Index;Listed: Main Market in SIX Swiss Exchange, SWX Local Caps in SIX Swiss Exchange;
Datum: 31.08.2009 - 21:30 Uhr
Sprache: Deutsch
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