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The turbulent history of Clariant is enriched by another chapter – one that could, however, develop certain lengths. The specialty chemicals company will have to wait for months to see what the future main shareholder Sabic intends to do with the Muttenzer company, as Hariolf Kottmann told BaZ
"Sabic is in to be heard by the competition authorities in ten or eleven countries get the go-ahead for the involvement.At the beginning, it was expected that this will be done in early June and after three months of discussion, we will be able to deliver something in September.We are now waiting for the authorization for early or mid-September, "explained Kottmann.There are still two or three countries, including Brazil and Mexico, in which the consent to participation is absent.For this agreement, the Saudi chemical company Sabic would not be a shareholder of Clariant
Difficult struggle
The expected entry of Sabic is preceded by a tenac fight e for Clariant's orientation: the company was over Months were put under pressure by a group of activist investors. Their resistance failed in October, merging with the US group Huntsman. At the end of January, the White Tale group sold its equity stake of just under 25% in Sabic Saudi Arabia. Clariant will continue to be a company headquartered in Switzerland, with its own management and board of directors and with a stock exchange in Zurich, said Kottmann at that time.
Since then, a lot of time has passed without real rapprochement. The boss of Clariant Kottmann points out. "We talk to each other, to a governance agreement, and to different projects and issues that also work for collaboration, but the teams meet in front of lawyers." The level of detail n & # 39; Is not very high. "
According to Kottmann, the points of contact between companies already exist today: the oil sector in the Middle East has always been a problem. However, the oil extracted in the Middle East is relatively relatively pure when it comes from the ground. Unlike Brazil or the North Sea, Clariant chemicals would be used less.
In return, Clariant obtains basic chemicals from Sabic and produces specialty chemicals for industrial customers or consumer goods. Clariant, on the other hand, supplies the Arab-Arab group with catalysts, among others – substances which, for example, can only facilitate or accelerate chemical processes. Kottmann expects benefits in this area through cooperation in both fields of manufacturing and energy.
Clariant as Small Investment
Kottmann, the largest oil production company Saudi Aramco to acquire a strategic stake in Sabic. The Reuters news agency said last week that she could take over all of the 70 percent Saudi sovereign wealth fund.
"Measured by other questions, we are a small investment for Sabic," said Kottmann. As Kottmann said, there is a trend in the industry, according to which oil companies want to engage in their own chemical companies or incorporate new chemical companies, as has said Kottmann
. not in Clariant's figures: After a seven per cent sales increase in the first half to 3.4 billion Swiss francs and a significantly improved operating profit, the company is talking about stable growth, as said Chief Financial Officer Patrick Jany. But the four divisions are not doing well. In natural resources, where the company does business with oil producers, sales are slow to grow. It takes patience, says Jany.
Patience is also the dominant theme among investors: the stock price reacted yesterday with discounts due to predictable delays in the entry of Sabic. Hariolf Kottmann expects that any Sabic statement will bring some stability to Clariant. "Let Sabic say we stay at 25% and regulate our influence differently or we go to 30% or we take over Clariant together." Especially the last possibility could fuel investor price fantasies and the next chapter for Clariant. (Basler Zeitung)
Created: 26.07.2018, 07:57
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