Clariant continues speciality drive
Clariant has taken what exective chairman Hariold Kottmann (above) called “another significant step towards becoming a pure-play speciality chemical company”, by completing the sale of its Masterbatches business to PolyOne on 1 July. It expects to divest the Pigments business shortly, after which it will make with an extraordinary cash distribution of CHF 3.00/share to its shareholders.
The global Masterbatches business and its separate business in India were sold for about $1,560 million, or 12.2 x EBITDA in the year to September 2019. Following on from completion of the sale, PolyOne renamed itself Avient. Clariant is henceforth focusng on its three core business areas of Care Chemicals, Catalysis and Natural Resources.