Clariant and Huntsman Corporation have announced the decision to merge the two specialty chemical companies. The newly combined company will be named HuntsmanClariant.
According to Clariant, the combination of both companies will create a leading global specialty chemical company with sales of around $13.2 billion.
HuntsmanClariant will aim to…
- Leverage shared knowledge in sustainability
- Claim a stronger joint innovation platform
- Enable the development of new products and deliver superior returns
- Drive shareholder value
Hariolf Kottmann, CEO of Clariant, stated, “This is the perfect deal at the right time. Clariant and Huntsman are joining forces to gain much broader global reach, create more sustained innovation power and achieve new growth opportunities. This is in the best interest of all of our stakeholders. Peter Huntsman and I share the same strategic vision and I look forward to working with him.”
Peter R. Huntsman, president and CEO of Huntsman, said of the combined merger of equals, “I could not be more enthusiastic about this merger and look forward to working closely with Hariolf Kottmann, a man I have admired and trusted for the past decade. We also look forward to a close association with his immensely talented colleagues around the world. Together, we will create a global leader in specialty chemicals with a combined balance sheet providing substantial financial strength and flexibility.”he
The transaction is expected to close by the end of 2017.