Company Announcements

Clariant completes divestment of 50 % stake in Scientific Design joint venture

Source: OMX
Clariant completes divestment of 50 % stake in Scientific Design joint venture

 

MUTTENZ, APRIL 14, 2022

Clariant, a focused, sustainable and innovative specialty chemicals company, today announced that it has completed the divestment of its 50 % stake in the joint venture which owns Scientific Design Company Inc. The transaction was announced on 2 February, 2022.

Clariant’s 50 % share in Scientific Design was valued at USD 130 million. Together with a profit-sharing agreement beginning on 1 January, 2021 until the closing of the transaction, Clariant’s net cash inflow, before tax and transaction cost amounts to USD 139.4 million.

Clariant intends to use the proceeds of the divestment to invest into growth projects within the core Business Areas, execute the strategy along sustainability and innovation, fund the performance improvement programs as well as strengthen Clariant’s balance sheet to reach and defend a solid investment grade rating.

CORPORATE MEDIA RELATIONS

 

Jochen Dubiel
Phone +41 61 469 63 63
jochen.dubiel@clariant.com

 

Anne Maier
Phone +41 61 469 63 63
anne.maier@clariant.com

 

Ellese Golder
Phone +41 61 469 63 63
Ellese.golder@clariant.com




 
INVESTOR RELATIONS

 

Andreas Schwarzwälder
Phone +41 61 469 63 73
andreas.schwarzwaelder@clariant.com

 

Maria Ivek
Phone +41 61 469 63 73
maria.ivek@clariant.com

 

Alexander Kamb
Phone +41 61 469 63 73
alexander.kamb@clariant.com
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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.

 

www.clariant.com

 

 

Clariant is a focused, sustainable and innovative specialty chemical company based in Muttenz near Basel/Switzerland. On 31 December 2020, the company employed a total workforce of 13 235. In the financial year 2020, Clariant recorded sales of CHF 3.860 billion 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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