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.
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