Clariant acquires German chemical maker for 2 billion euros
Canadian Plastics
Automotive Economy Automotive: Materials Plastics Industry Economic Changes/ForecastIn a move designed to beef up its presence in the automotive industry, specialty chemical provider Clariant AG has agreed to buy a controlling majority of German chemical maker Süd-Chemie AG for 2 billion euros (Cdn$2.7 billion).
In a move designed to beef up its presence in the automotive industry, specialty chemical provider Clariant AG has agreed to buy a controlling majority of German chemical maker Süd-Chemie AG for 2 billion euros (Cdn$2.7 billion).
With around 6,500 employees in 40 countries, Munich-based Süd-Chemie operates business units in the areas of process catalysts and adsorbents.
According to a news release, Swiss-based Clariant will buy slightly above 95% of the outstanding shares from majority shareholder One Equity Partners and family investors.
“We are convinced that Süd-Chemie is the right strategic fit for Clariant. It complements our portfolio with high growth businesses, less cyclicality and it provides Clariant access to new attractive market segments”, said Clariant AG CEO Hariolf Kottmann. “The planned acquisition also offers clear advantages for both companies as our investment will strengthen our research in future markets such as new materials and biotechnology in a focused way”, said Kottmann.
