Clariant expects big growth in North America
North America is expected to become second largest market for Clariant with about $2 billion turnover forecasted by 2021.
April 5, 2018 by Canadian Plastics
Switzerland-based specialty chemical maker Clariant sees North America as a prime area for investment and growth.
Clariant is expecting its cross-business growth strategy for North America to advance regional sales of about US$2 billion by 2021 – which would make North America the company’s second largest global market, representing about 25 per cent of its global chemical investment. As recently as 2014, Clariant’s sales in North America were just 16 per cent compared to 23 per cent for the overall specialty chemical sector.
In a statement, Clariant identified key elements in this growth strategy, which include advancing its R&D competencies, a capital expenditures (capex) investment of US$250 million to further increase both its manufacturing footprint and technical capabilities, and the leveraging of shale gas opportunities.
Some recent key additions for Clariant in North America include oil services companies Kel-Tech and X-Chem.
On the capital projects front, Clariant commissioned its new ethylene oxide (EO) derivatives expansion in Clear Lake, Texas, in the first quarter of 2016, and opened its new polypropylene (PP) catalyst plant in Louisville, Kentucky, in October 2016.
“Clariant is proud of its achievements to date in North America and is excited about its plans for growth over the next four years,” said Deepak Parikh, Clariant’s head of region North America. “In addition to investing further in R&D and manufacturing, we will invest in critical talent acquisition and development to upskill our organisation. Our aim is to create a stronger growth mindset, and to enhance this by leveraging local insight and formulating those key partnerships so necessary for successful growth.”
At present, Clariant has over 50 sites, and 2,400 employees, across the U.S. and Canada, and reported a turnover of around US$1.25 billion.