Süd-Chemie Acquisition Clariant Completes Acquisition of Süd-Chemie
Speciality chemicals company Clariant initiated a squeeze out process of the remaining stock holders of Süd-Chemie, already owning shares of 98.64 percent in the German company. With this acquisition Clariant gains a foothold in the catalyst's business where Süd-Chemie has a strong expertise.
Muttenz/Switzerland – it's the showdown: Clariant aims to complete it's acquisition of Süd-Chemie by squeezing out the remaining stockholders of the German speciality chemicals firm and take the company private. With this acquisition Clariant could well become a major player in the global catalyst business at a single blow.
Clariant acquired a majority share in Süd-Chemie early this year from financial investor One Equity Partners (OEP) for over EUR 2 billion. After having a hard time restructuring the textiles and leathers business units this expansion is a first step towards new markets for Clariant. "Süd-Chemie will further drive our profitable growth forward in the coming years", said Clariant's CEO Hariolf Kottmann. "The acquisition also offers clear advantages for both companies as our investment will strengthen our research in future markets", he added. According to company officials, Clariant currently owns a share 98.64 percent in the German company.
Süd-Chemie is mainly engaged in producing absorbents and catalysts. The company's history dates back to 1857 when it was founded as BAG by Justus Liebig. OEP acquired a majority of shares in Süd-Chemie with a hostile takeover in spring 2007.
Süd-Chemie with Good Figures for 2010
Süd-Chemie's provisional economic report for 2010 lists a total business volume of EUR 1.225 billion (EUR 153 million more than 2009). Under OEP ownership, Süd-Chemie invested large sums in research and development and founded start-up subsidiaries for bio-based ethanol fuels and lithium-iron phosphates for batteries. The company's latest coup was the formation of ASK, a global joint venture for foundry chemicals with American speciality chemicals company Ashland in December 2010.
Recent reports predict a solid growth driven by a strong commitment to emerging regions for the coming years. Süd-Chemie generates 85 percent of its sales volumes outside of Germany.