Clariant to fully take over Perstorp Clariant AB JV

27-Dec-2001

Perstorp and Clariant have reached an agreement under which Clariant will purchase the remaining 50% shares of their joint venture Perstorp Clariant AB. The JV achieved sales of about SEK 470 mio in 2001. The transaction is subject to approval by the appropriate regulatory authorities. It has mutually been agreed not to disclose other terms of the transaction.

The joint venture has been successful in building a strong position in water based emulsion markets in Northern Europe, particularly in the paint, adhesives and non woven sectors. Perstorp Clariant AB (PCAB) manufactures water based emulsions using various monomers. Emulsions manufactured include high-pressure polymers as well as conventional products.

After acquiring full ownership of the joint venture Clariant will be in an ideal position to make full use of its technology and to optimise its operations in Europe.

Clariant's CEO Dr. Reinhard Handte said: "This transaction allows Clariant to consolidate its position in the market for high-quality and environment friendly emulsions. Based on Clariant's technology PCAB has built a strong position in Northern Europe in the past years. Clariant is now in an ideal position to optimize its logistics and its technical service to the benefit of its customers all over Europe."

Perstorp's CEO Lennart Holm said: "This is a natural step in Perstorp's continued efforts to concentrate its operations and it will enable PCAB to participate actively in the development of the European market for water based emulsions."

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