Clariant
Clariant is to sell its complete Masterbatches business to PolyOne for approximately $1.6 billion USD (approx. £1.2 billion GBP).
The sale is part of Clariant’s restructuring announced in 2015 that will see it divest business units outside of its non-core areas of Care Chemicals, Catalysis and Natural Resources. It sold its Healthcare Packaging business in October 2019 to Arsenal Capital Partners.
The deal with PolyOne comprises two separate transactions. The global Masterbatches business is sold in a deal valued at $1.5 million USD (approx. £1.1 million GBP) and separately, the sale of Clariant’s Masterbatches business in India valued approx. $60 million (approx. £46 million GBP).
“This announcement is a significant milestone on our path to focussing on businesses with above- market growth, higher profitability and stronger cash generation,” said Hariolf Kottmann, Executive Chairman of Clariant.
“As announced, we are confident that we will execute the remaining divestment of our Pigments business in 2020 in order to build the new, more focused and stronger Clariant by 2021,” he added.
Clariant’s Masterbatches business offers colour and additive concentrates and performance solutions for plastics. In the financial year 2018, the total masterbatches business generated sales of around CHF 1.181 billion.
The sale is expected to close by Q3 2020.