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Clariant completes Pigments exit

Clariant has completed the previously announced sale of most of its Pigments business to Heubach Group and SK Capital Partners, completing its transformation into a speciality chemicals firm. The business has about 3,000 employees and revenues of €1 billion/year.

The deal gives Pigments a base enterprise value of CHF 805 million, subject to closing accounts adjustments and before a potential earn-out payment of CHF 50 million depending on its financial performance in 2021. Clariant has retained a 20% stake in the new holding company. in order to profit from its future growth

Clariant plans China FR plant

Clariant is to build its first Chinese production facility for Exolit OP range of aluminum diethyl-phosphinate flame retardants. This will supply the electrical and electronic equipment industries, in particular e-mobility, 5G communications technology and transportation in China and other Asian markets.

Chemical companies collaborate on low-carbon initiative

Ten major global chemical sector companies have agreed with the World Economic Forum (WEF) to establish what they called “a breakthrough, pre-competitive development platform to accelerate net-zero climate technologies”. They are BASF, Dow, DSM, Solvay, Clariant, Covestro, Mitsubishi Chemical, Air Liquide, Sabic and Sibur.

Clariant opens Sunliquid plant

Clariant has announced the official completion of its first commercial-scale Sunliquid plant in Podari, Romania. This will be operational during Q4 and will produce about 50,000 tonnes/year of “almost carbon-neutral” cellulosic ethanol from 250,000 tonnes/year of agricultural residues sourced in the vicinity.

Pigments divestment completes Clariant sales

Clariant has agreed to sell 80% of its Pigments business to a consortium made up of German pigments specialist Heubach Group and private investment firm SK Capital Partners, which owns many other chemical industry operations. This should close in 1H 2022.

Renewable glycols JV in India

Clariant has agreed a strategic partnership to establish a 51-49% joint venture with India Glycols (IGL) in renewable ethylene oxide (EO) derivatives, subject to regulatory approvals. U.S. Bhartia has been designated chairman of the JV, which will employ about 200 people in India.

Clariant sets climate targets

Clariant has committed to new 2030 targets to reduce CO2 emissions in line with the Science Based Targets initiative (SBTi), which has validated them. This follows the establishment last year a dedicated unit to accelerate its sustainability transformation. The targets are:

* 40% absolute reductions in Scope 1 (made directly during production) and 2 (emitted indirectly, mainly through consuming steam and electricity) greenhouse gas emissions (GHG) emissions on 2019 levels

* A 14% absolute reductions in Scope 3 (other indirect) GHG emissions on 2019 levels

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