Clariant Buys Sued-Chemie

16.02.2011 -

Clariant has agreed with the major shareholders of Süd-Chemie, Munich, Germany to take over a total of more than 95% of the shares. According to the signed agreement, majority shareholder One Equity Partners (OEP) will sell its interest for € 121 per share to the Swiss specialty chemicals group while the traditional shareholders, some of whose families have invested and participated in Süd-Chemie as entrepreneurs for more than a century, will receive 8.84 shares in Clariant for one share in Süd-Chemie.

The Managing Board, OEP and the traditional shareholders of Süd-Chemie are convinced of the excellent possibilities of further development of the business of Süd-Chemie as a result of this transaction, which is subject to several conditions, including the clearance under cartel law and the execution of a capital increase to be decided by the general meeting of Clariant.

In recent years, Süd-Chemie has developed into a strong global specialty chemicals company with robust growth and profitability. The company is very well positioned in attractive future markets. Based on the preliminary consolidated financial statements, a sales volume of € 1.225 billion and EBIT adjusted for special items of € 100.5 million are expected for fiscal year 2010. Especially as a result of the extraordinary income achieved in 2010 in connection with the 1 December 2010 formation of the global joint venture in the area of foundry chemicals with Ashland Inc., Covington, USA, consolidated earnings (EBIT) including special items is expected to be € 124.4 million and earnings before interest, taxes, depreciation and amortisation (EBITDA) to be € 190.8 million.

Dr. Günter von Au, Chairman of the Managing Board of Süd-Chemie, says: "In recent years, the development of the core business of Süd-Chemie was excellent. Moreover, we persistently invested into new growth markets. I am convinced that, as part of the Clariant group, we will be able to successfully continue our promising business. We welcome the statement of the Chairman of the Managing Board of Clariant that he regards Süd-Chemie with its strong growth and future-oriented divisions as an ideal complement to Clariant to drive profitable growth in the coming years."

Clariant CEO Dr. Hariolf Kottmann said: "We are convinced that Süd-Chemie is the right strategic fit for Clariant." He added: "The planned acquisition also offers clear advantages for both companies as our investment will strengthen our research in future markets such as new materials and biotechnology in a focused way." Clariant today announced that 2010 sales totaled CHF 7.120 billion, compared to CHF 6.614 billion in 2009.


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