Clariant is to invest CHF 80 million to expand its Care Chemicals facility at Daya Bay in Huizhou, China, by the end of 2024. This will both add capacity for existing products and introduce new products in the pharmaceutical, personal care, home care and industrial sector.

Daya Bay, which has obtained the drug GMP certificate, is the first API site in China certified to produce polyethylene glycol Polyglykol 3350. More generally, it will become new global hub for Clariant’s healthcare business support.

Following a financial assessment of the plant as part of the annual impairment testing in accordance with International Financial Reporting Standards, Clariant is to take an impairment of about CHF 225 million to the current asset value of its recently opened Sunliquid plant in Podari, Romania.

Clariant opened two new facilities at the Dubai Science Park in late October. The company said that the EMEA region technical centre for its Oil Services business, which it said “will leverage the latest technologies and more sustainable oilfield chemicals” in both oil and gas production.

Clariant and Italmatch Chemicals have both announced investments in phosphorus-based flame retardants in China in the past two weeks as demand continues to grow from growth in the use of engineering plastics in the e-mobility, 5G communications, transportation, and electrical and electronic segments.

Clariant has agreed to sell its global quaternary ammonium compounds to Global Amines Company, its Singapore-based 50-50 joint venture with Wilmar, for $113 million. Subject to regulatory approval and standard closing conditions, this is expected to close in 1H 2023.

Clariant has announced that an external investigation of accounting issues related to provisions and accruals has been concluded. As a result, the 2020 financial statements and corrections to quarterly reporting of key financial data for 2020 and 2021will be restated. This will have no impact on the sales, cash and cash equivalents figures reported for these years.

Clariant, Solvay, Chemours and Novozymes have all announced plans to suspend business with Russia in response to the invasion of Ukraine. They have all also pledged support for employees in the affected countries and made donations to support relief operations.

Clariant suspended operations with immediate effect. CEO Conrad Keijzer said: “Continuing to do business under these circumstances is incompatible with our purpose and values”. The company has a sales office and a laboratory in Moscow, which contribute about 2% of its sales. It also employs 146 people in Ukraine.