Clariant sells MCAA business to Gilde
MUTTENZ, Switzerland – Clariant today announced the sale of its subsidiary Clariant (Acetyl Building Blocks) GmbH & Co. KG to the Gilde Buy-Out Fund for CHF 74 million (EUR 48 million). The sale is expected to close in the Third Quarter 2005 subject to approval by the relevant competition authorities.
The transaction is part of Clariant's strategy to sell businesses that are outside its core activities. Clariant (Acetyl Building Blocks) GmbH & Co. KG (CABB), at present part of Clariant's Life Science Chemicals Division, is a focused and leading company in products based on chlorine and acetyl chemistry. CABB holds a strong market and technology position for its main product, monochloroacetic acid (MCAA), an important intermediate for applications in industries such as agro chemistry, detergents, plastics and pharmaceuticals. Furthermore the company holds good market positions in chlorinated intermediates and terpenes.
In 2004, CABB generated worldwide revenues of CHF 176 million (EUR 114 million). It operates two manufacturing sites, Knapsack and Gersthofen, both located in Germany and employs approximately 300 people. All employees will be transferred to the new owner. Clariant will continue to act as sales agent and distributor outside Germany for the foreseeable future.
Clariant's Chief Executive Officer Roland Loesser said: "The sale marks a further step in the streamlining of non-strategic businesses in our portfolio. It allows our colleagues at CABB to fully focus on their core business. We wish them lots of success."
Ralph Wyss, Managing Director at Gilde's Zurich office, welcomes CABB in the Gilde organization and said: "The acquisition of CABB marks another successful step for Gilde in the German speaking countries. CABB is an excellent addition to our portfolio of regional market leaders. Together with the management, Gilde will make all efforts to further enhance the CABB business."
Calendar of Corporate Events
- June 23, 2005 Pay-out date of par value repayment (CHF 0.25/share)
- August 4, 2005 First Half 2005 Results
- November 9, 2005 Nine Month 2005 Results
- February 28, 2006 Full Year 2005 Results; Annual Media Conference
- April 7, 2006 Annual General Meeting
- May 9, 2006 First Quarter 2006 Results
- August 2, 2006 First Half 2006 Results
- November 7, 2006 Nine Month 2006 Results
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Clariant – Exactly your chemistry.
Clariant is a global leader in the field of specialty chemicals. Strong business relationships, commitment to outstanding service and wide-ranging application know-how make Clariant a preferred partner for its customers.
Clariant, which is represented on five continents with over 100 group companies, employs about 25,000 people. Headquartered in Muttenz near Basel, it generated sales of around CHF 8.5 billion in 2004.
Clariant's businesses are organized in five divisions: Textile, Leather & Paper Chemicals, Pigments & Additives, Functional Chemicals, Life Science Chemicals and Masterbatches.
Clariant is committed to sustainable growth springing from its own innovative strength. Clariant's innovative products play a key role in its customers' manufacturing and treatment processes or else add value to their end products. The company's success is based on the know-how of its people and their ability to identify new customer needs at an early stage and to work together with customers to develop innovative, efficient solutions.
Gilde Buy-Out Fund – Private Equity in Continental Europe
The Gilde Buy-Out Fund is managed by Gilde Investment Management, a leading private equity investor based in the Netherlands, specialized in management buy-out investments in Continental Europe. With offices in Utrecht, Paris and Zurich, Gilde manages funds in excess of EUR 1.5 billion and has invested in more than 200 companies since its inception in 1982. Buy-out transactions completed in 2005 include DSM Bakery Ingredients (completion expected in June 2005) and Inversco in the Netherlands and Betafence (formerly Bekaert Fencing) in Belgium.