Clariant: to sell masterbatches business
(CercleFinance.com) - Switzerland's Clariant has agreed to sell its entire masterbatches business to US specialty polymer company PolyOne for 1.
6 billion dollars, as part of the group's plan to focus on above-market growth, higher profitability products.
After the divestment of its healthcare packaging unit in October 2019, the agreement to sell masterbatches is an "important step" in the strategy defined in 2015 to concentrate on care chemicals, catalysis and natural resources, the chemicals maker said.
Clariant said it now plans to execute the remaining divestment of its pigments business in 2020 in order to build the "new, more focused" Clariant by 2021.
As a result, Clariant is proposing shareholders an extraordinary cash distribution of 3 Swiss francs per share at next year's AGM.
This corresponds to a total distribution of about 1 billion Swiss francs (about 1 billion dollars), Clariant said.
The Clariant share was up 2.5% in Zurich after this announcement.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
6 billion dollars, as part of the group's plan to focus on above-market growth, higher profitability products.
After the divestment of its healthcare packaging unit in October 2019, the agreement to sell masterbatches is an "important step" in the strategy defined in 2015 to concentrate on care chemicals, catalysis and natural resources, the chemicals maker said.
Clariant said it now plans to execute the remaining divestment of its pigments business in 2020 in order to build the "new, more focused" Clariant by 2021.
As a result, Clariant is proposing shareholders an extraordinary cash distribution of 3 Swiss francs per share at next year's AGM.
This corresponds to a total distribution of about 1 billion Swiss francs (about 1 billion dollars), Clariant said.
The Clariant share was up 2.5% in Zurich after this announcement.
Copyright (c) 2019 CercleFinance.com. All rights reserved.