Clariant Completes Acquisition of Süd-Chemie
Clariant Expands Portfolio with Süd-Chemie's Catalyst Business
From Clariants point of view, the acquisition of Süd-Chemie shall help to expand Clariant's portfolio with fast growing and less cyclical business areas, said CEO Hariolf Kottmann in February. Wether Clariant is going to cut jobs with Süd-Chemie has not been decided yet. First plans by Clariant to purchase Süd-Chemie were published in spring 2011, after good figures in the last quarter of 2010.
Süd-Chemie's business shall be continued as separate divisions under Clariant's ownership, the company announced. Clariant expects savings around EUR 21 million (US $ 29,86) from synergistic effects, mainly in the administration, although both companies only have little overlapping.
Insiders expect Clariant to be especially interested in Süd-Chemie's strong catalysts segment - this acquisition would gain Clariant a strong foothold in the fast growing catalysts business.
Clariant Appoints Dr. Müller of Süd-Chemie to Lead New Catalysis & Energy Business
A strong hint for the importance of this topic is that Clariant until now only takes over one of Süd-Chemie's management personnel: Dr. Hans-Joachim Müller, former member of Süd-Chemie's managing board was recently appointed to lead Clariant's new established business units Catalysis & Energy and Functional Materials. Müller, born 1959, was head of Süd-Chemie's global business unit Catalytic Technologies, developing this business into a global market leading position. He holds a PhD in chemistry from the Ludwig-Maximilian-University in Munich, Germany.
Clariant's CEO Hariolf Kottmann commented: "I am pleased that Hans-Joachim Müller has accepted the offer to join the Executive Committee of Clariant. With his broad leadership experience in the chemicals industry and his deep understanding of the Süd-Chemie businesses he will guarantee for continuity and contribute to the successful execution of our profitable growth strategy."
Clariant expects the acquisition to generate profits by 2013. How the stock markets are going to react to these plans is still difficult to anticipate. Until now, investors remain reluctant: today the announcement lead to slight losses of 0.28 percent for Clariant shares (current value 13.56 Euro).