Clariant signs definitive agreement to sell Quats business
Clariant International Ltd
MUTTENZ,AUGUST 31, 2022
Clariant, a focused, sustainable, and innovative specialty chemical company, today announced that it has reached a definitive agreement for the divestment of its Quats business to Global Amines Company Pte. Ltd., a 50/50 joint venture owned by Clariant and Wilmar, Asia’s leading agricultural business and oleochemicals business globally.
This divestment is a further step in Clariant’s portfolio transformation to focus operations purely on specialty chemicals. Quats are quaternary ammonium compounds, a group of chemicals used for a variety of purposes including as preservatives, surfactants, and as antistatic agents. Quats are used in a wide range of commercial, industrial, and consumer products. The business maintains an excellent reputation as a leading supplier of quats with proprietary technology and a good service reputation.
The transfer will be an asset sale of the sites in Germany, Indonesia, and Brazil and will provide for tolling agreements where needed. The sales price, subject to standard closing conditions, is set at USD 113 million. The transaction is subject to regulatory approvals and customary closing conditions. The transaction is expected to be consummated in the first half of 2023.
This media 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 in or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond Clariant’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors such as: the timing and strength of new product offerings; pricing strategies of competitors; the Company’s ability to continue to receive adequate products from its vendors on acceptable terms, or at all, and to continue to obtain sufficient financing 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, on a global, regional or national basis. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. Clariant does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of these materials.
Clariant is a focused, sustainable, and innovative specialty chemical company based in Muttenz, near Basel/Switzerland. On 31 December 2021, Clariant totaled a staff number of 11 537 and recorded sales of CHF 4.372 billion in the fiscal year for its continuing businesses. The company reports in three Business Areas: Care Chemicals, Catalysis, and Natural Resources. Clariant’s corporate strategy is led by the overarching purpose of ‘Greater chemistry – between people and planet,’ and reflects the importance of connecting customer focus, innovation, sustainability, and people.
Britain's independent fiscal watchdog, the Office for Budget Responsibility (OBR), said its committee had discussed the economic and fiscal outlook in a meeting with Prime Minister Liz Truss and finance minister Kwasi Kwarteng on Friday. The OBR has been asked by Kwarteng to produce a first draft of its next economic forecasts on Oct. 7 ahead of his planned budget statement on Nov. 23.
INTRODUCTION Given the potential of gene therapies in targeting the underlying cause of a disease at cellular level, the demand for such therapies has increased considerably over the past few years.New York, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Adeno-Associated Viral Vector Market – Focus on Drugs, Manufacturers and Technologies: Industry Trends and Global Forecasts, 2022-2035" - https://www.reportlinker.com/p06323410/?utm_source=GNW Currently,
A rare disease is one that impacts a small proportion of the population. In some parts of the world, an orphan disease is a rare disease that lacks a large enough market to gain support & resources for uncovering treatments for it, unless the government grants economically advantageous conditions for developing and selling such treatments.New York, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Rare Diseases Treatment Market Size, Share & Industry
Italian airport and motorway caterer Autogrill on Thursday posted a 63.6% growth in revenues at constant exchange rates to 2.6 billion euros ($2.54 billion) in the first eight months of 2022 and confirmed its outlook for the full year. The group, which is controlled by the Benetton family and is set to be taken over by Swiss duty-free retailer Dufry, said the result was driven by the recovery of international airport traffic and the resilience of passenger movements at U.S airports and on motorways in Europe. Autogrill confirmed its guidance for 2022, with revenue for the year of around 3.8 billion euros and free cash flow of about 200 million euros.
The process of analyzing multiple benchmarks and metrics for cloud systems is known as cloud performance management. It is used to assess how well a certain cloud system is operating and where enhancements may be made.New York, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cloud Performance Management Market Size, Share & Industry Trends Analysis Report By Component, By Deployment Type, By Organization Size, By Vertical, By Regional Outlook and F
Food giant Nestle plans to stop sourcing from subsidiaries of Astra Agro Lestari (AAL), a major Indonesian palm oil producer accused by environmental groups of land and human rights abuses. Nestle, maker of KitKat chocolate and Nespresso coffee, told Reuters that following a recent independent assessment, it instructed its suppliers to ensure palm oil from three subsidiaries of AAL no longer enters its supply chain. It did not specify the claims again AAL other than to say it had been on its 'grievance' list for several months.
Major players in the smart air purifier market are Honeywell International Inc. , Koninklijke Philips N. V. , Xiaomi, Unilever Blueair, Coway Co. Ltd. , Sharp Corporation, Dyson Technology Limited, LG Electronics, Sunbeam Products Inc.New York, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smart Air Purifier Global Market Report 2022" - https://www.reportlinker.com/p06323891/?utm_source=GNW , Whirlpool Corporation, Amaircare, Alencorp, Arovast Corporati
The Bank of England’s intervention in the UK government debt market was expected to cost £65 billion, with £5 billion in bond buying every day for a further 13 days. Initial details of the size of the operation provided the main talking point in dealing rooms across London and beyond, while the former governor of the Bank of England, Mark Carney, said the government’s tax cuts were “working at some cross purposes” with the monetary policy being run out of Threadneedle Street. London’s FTSE 100 fell further and a global wave of selling reached Wall Street markets, where big-name tech stocks were among the fallers.
The COVID-19 pandemic had a slight negative impact on the market due to various restrictions imposed by the government. During COVID, on the supply side, just like the demand, the logistical issues impacted the runs heavily.New York, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "EMEA Secondary Macronutrients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06321514/?utm_source=GNW For instance, count
CHISINAU (Reuters) -Moldova's state energy firm will pay the rest of a late advance payment to Russia's Gazprom for September natural gas supplies on Friday so the gas giant does not cut supplies from Oct. 1, a source said on Thursday. Moldovagaz paid $6 million to Gazprom on Thursday and will pay more than $24 million on Friday to close the late advance payment of $33.89 million that was due to be paid by Sept. 20 to cover 50% of gas consumed in September, the source told Reuters. One of Europe's poorest countries, Moldova is reliant on Russian gas, the price of which has surged this year because the contract with Gazprom fluctuates from month to month based on the spot price of gas and oil.
A 14-year-old British girl died from an act of self harm while suffering from the "negative effects of online content", a coroner said Friday in a case that shone a spotlight on social media companies.