Clariant seeks assets to grow profitably
By Richard Fu |
July 11, 2013, Thursday
|
Print Edition
Print Edition
CLARIANT, a specialty chemicals maker, is seeking add-on acquisitions in countries, including China, under its strategy for profitable growth but has ruled out major purchases.
Such "bolt-on" acquisitions will help close technology and regional gaps and extend the value chain for the Swiss company, chief executive Hariolf Kottmann said.
"It's highly likely this will happen in China as well," Kottmann said in a recent interview in Zurich. He added the company is eying some targets but refused to reveal them.
But he ruled out another major "transformational acquisition" like the US$2.5 billion purchase of German catalyst maker Sud-Chemie in 2011.
Like other global companies, Clariant is boosting manufacturing and R&D in China to tap demand from rapid urbanization.
Chief Financial Officer Patrick Jany emphasized that in the mid-term, the growth strategy will continue in China, citing the very good development in the oil and mining and consumer care markets in China.
The Chinese mainland sector of the Muttenz-headquartered company contributed 7.5 percent of its global sales last year.
Such "bolt-on" acquisitions will help close technology and regional gaps and extend the value chain for the Swiss company, chief executive Hariolf Kottmann said.
"It's highly likely this will happen in China as well," Kottmann said in a recent interview in Zurich. He added the company is eying some targets but refused to reveal them.
But he ruled out another major "transformational acquisition" like the US$2.5 billion purchase of German catalyst maker Sud-Chemie in 2011.
Like other global companies, Clariant is boosting manufacturing and R&D in China to tap demand from rapid urbanization.
Chief Financial Officer Patrick Jany emphasized that in the mid-term, the growth strategy will continue in China, citing the very good development in the oil and mining and consumer care markets in China.
The Chinese mainland sector of the Muttenz-headquartered company contributed 7.5 percent of its global sales last year.
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