Betonite Takeover Clariant Completes Takeover of Brazilian Betonite Company
Clariant secures its access to raw clay reserves by a significant expansion of its bentonite business: The company announced to take over the remaining 50 % shares of Companhia Brasileira de Bentonita (CBB) from Geosol.
Rio de Janeiro/Brazil – The agreement enables Clariant to take full ownership of a Bentonit mine and a state-of-the-art production facility, employing 101 employees and located in Vitória da Conquista in the state of Bahia, Brazil. Financial details of the acquisition are not being disclosed.
CBB has a strong market position for products for Iron Ore Pelletizing (IOP), foundry, oil & mining drilling and civil engineering in Latin America. The transaction provides Clariant’s Business Unit Functional Minerals with a modern plant and it secures strategic raw clay reserves for its growing bleaching earth operations in Jacareí, Brazil. Clariant's joint control of CBB has enabled Functional Minerals to enter the attractive South American markets for foundry and IOP and to introduce high quality products and solutions to customers.
Investment Complements Strategy to Develop Revenue in Emerging Markets
"The acquisition is in line with our strategy to capture profitable growth opportunities in emerging markets", said Hariolf Kottmann, CEO of Clariant. "CBB offers excellent access to markets with great potential for our existing business and for future innovations, e.g. in agriculture or feed additives."
Sven Schultheis, Head of Claraint's Functional Minerals business, said: "The investment reflects Clariant’s commitment to the growing bentonite business in Latin America. It strengthens our global position and gives us the opportunity to fully implement the technology and application know-how proven and applied around the world."