GlobeNewswire

Clariant completes the sale of its Masterbatches business to PolyOne for approx. USD 1.6 billion

Share
  • Divestment marks an important milestone for Clariant’s transformation into a focused specialty chemicals company
  • Closing satisfies condition for extraordinary distribution of CHF 3.00 per share
  • Remaining proceeds to be invested in core businesses and to strengthen balance sheet


Muttenz,  July 1, 2020– Clariant, a focused, sustainable and innovative specialty chemical company, today completed the sale of its entire Masterbatches business to PolyOne. The enterprise value of the sale, which consists of separate transactions for Clariant’s global Masterbatches business and its Masterbatches business in India, amounts to approximately USD 1,560 million which is equivalent to c. 12.2 times the last twelve months reported EBITDA (ending September 2019).

“With this completed transaction, Clariant takes another significant step towards becoming a pure-play specialty chemical company. By focusing on its three core Business Areas Care Chemicals, Catalysis and Natural Resource, Clariant intends to deliver above-market growth, higher profitability and stronger cash generation. Having successfully sold Masterbatches and Healthcare Packaging, our target is now to progress with the divestment of our Pigments business,” said Hariolf Kottmann, Clariant’s Executive Chairman ad interim.

As a consequence of the completed divestment of the Masterbatches business, as well as the anticipated divestment of the Pigments business, Clariant will now proceed as soon as practicable with an extraordinary cash distribution of CHF 3.00 per share to its shareholders. Clariant’s Board of Directors has set the ex-date to 6 July 2020, the record date to 7 July 2020, and the payment date of the extraordinary distribution will be 8 July 2020. As previously announced, remaining net proceeds from the intended divestments will be used to invest in innovations and technological applications within the core Business Areas and to strengthen Clariant’s balance sheet.

Corporate Media RelationsInvestor Relations


Jochen Dubiel

Phone +41 61 469 63 63
jochen.dubiel@clariant.com
Maria Ivek

Phone +41 61 469 63 73
maria.ivek@clariant.com
Claudia Kamensky

Phone +41 61 469 63 63
claudia.kamensky@clariant.com
Alexander Kamb

Phone +41 61 469 63 73
alexander.kamb@clariant.com
Thijs Bouwens

Phone +41 61 469 63 63
thijs.bouwens@clariant.com

Follow us on Twitter, Facebook, LinkedIn, Instagram.




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 2019, the company employed a total workforce of 17 223. In the financial year 2019, Clariant recorded sales of CHF 4.399 billion for its continuing businesses. The company reports in three business areas: Care Chemicals, Catalysis and Natural Resources. Clariant’s corporate strategy is based on five pillars: focus on innovation and R&D, add value with sustainability, reposition portfolio, intensify growth, and increase
profitability.

Attachments

About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

AND (Ticker: AND.AS) intends to rebrand the company22.9.2020 18:05:00 CESTPress release

Supporting the turnaround and the new strategic direction of the company Capelle aan den IJssel, the Netherlands, 22 September 2020 - AND is happy to announce that it intends to change the company name and refresh its branding in Q4 2020. This change is designed to highlight the company’s new strategic direction as well as support and strengthen the transformation into a subscription based provider of premium location aware content and services. As announced on August 12th, the turnaround strategy has already delivered 22% revenue growth in the first half of 2020. AND believes the new company name and branding will help to drive continued revenue growth and put location-intelligence squarely at the center of the company’s profile. Further announcements will follow in Q4 2020. Ends About AND AND is an innovative location-aware content and service provider. Our focus is to create and deliver market leading, relevant, innovative and tailored content which fosters a safer and more sustaina

Wolters Kluwer Completes Divestment of ComplyTrack22.9.2020 17:30:00 CESTPress release

Wolters Kluwer Completes Divestment of ComplyTrack September 22, 2020 - Wolters Kluwer announces today that it has completed the divestment of ComplyTrack to symplr, as originally announced on September 8, 2020. About Wolters Kluwer Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolt

Joint Stock Company “Olainfarm” Extraordinary Shareholders Meeting on September 22, 2020 at 15.00  has not been held due to lack of quorum22.9.2020 14:20:00 CESTPress release

Joint Stock Company “Olainfarm” Extraordinary Shareholders Meeting on September 22, 2020 at 15.00 has not been held due to lack of quorum Joint Stock Company “Olainfarm” Management Board informs that for the Extraordinary Shareholders Meeting on September 22, 2020 at 15.00 pm shareholders who in total represented 3 877 425 voting shares or 27.53% of voting capital were registered, therefore shareholders' meeting did not take place due to lack of quorum. Olaine, September 22, 2020 Additional information: Jānis Dubrovskis Investor Relations Advisor of JSC Olainfarm Ph.: +371 29178878 janis.dubrovskis@olainfarm.com

RESOLUTIONS of the Annual General Meeting of Shareholders of JSC „Olainfarm” to be held on September 22, 202022.9.2020 13:05:00 CESTPress release

RESOLUTIONS of the Annual General Meeting of Shareholders of JSC „Olainfarm” to be held on September 22, 2020 Report of the Board on results of operations in 2019. Resolution: To take notice of the Report of the Board of the JSC “Olainfarm” on results of operations in 2019. Voting results: decision is taken with the required majority of votes. Report of the Council on results of operations in 2019. Resolution: To take notice of the Report of the Council of the JSC “Olainfarm” on results of operations in 2019. Voting results: decision is taken with the required majority of votes. Approval of the JSC “Olainfarm” Consolidated Annual Report for 2019. Resolution: To approve the Consolidated and Parent Company’s Annual Report of JSC „Olainfarm” for 2019 with profit in amount of EUR 22 239 000,00. Voting results: decision is taken with the required majority of votes. Distribution of profit of 2019. Resolution: 4.1. To pay dividends to the shareholders of the Joint Stock Company" Olainfarm " i

ProMIS Neurosciences to develop multivalent vaccine for Alzheimer’s disease22.9.2020 12:30:10 CESTPress release

Potential vaccine to incorporate ProMIS proprietary peptide antigens; early in vivo preclinical data demonstrate neuronal protection and improvement in cognitive deficits TORONTO and CAMBRIDGE, Mass., Sept. 22, 2020 (GLOBE NEWSWIRE) -- ProMIS Neurosciences, Inc. (TSX: PMN) (OTCQB: ARFXF), a biotechnology company focused on the discovery and development of antibody therapeutics targeting toxic oligomers implicated in the development of neurodegenerative diseases, announced today initiation of a program to construct and test a multivalent peptide vaccine for Alzheimer’s disease (AD). The critical first steps in vaccine development will be carried out by VIDO-InterVac, a global leader in vaccine research and development. Recent progress in the development of blood-based biomarkers for neurodegeneration is enabling increased screening to diagnose and identify individuals at risk of developing AD. A vaccine capable of inducing an effective antibody response against amyloid-beta toxic oligom

AIR Worldwide Releases Updated Multiple Peril Crop Insurance Model for China22.9.2020 12:11:10 CESTPress release

Boston, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Catastrophe risk modeling firm AIR Worldwide (AIR) today announced that it released an updated Multiple Peril Crop Insurance (MPCI) Model for China to support probabilistic assessments for five newly modeled crop lines of business and a newly modeled sub-peril. This update also includes a new livestock module that adds six additional lines of business and two new sub-perils. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. “In 2011, AIR leveraged its considerable experience and success in modeling MPCI portfolios in the United States to develop a model for mainland China. Since then, the model has been updated several times to keep it current with the fast-changing Chinese agricultural insurance market,” said Dr. Jeff Amthor, assistant vice president, AIR Worldwide. “The MPCI Model for China captures the severity, frequency, and location of drought, flood, wind, frost, and heat events nationwide, covering over 90% of the weather-related crop