Clariant completes sale of North American Land Oil business
03 Abril 2023 - 1:00PM
Clariant completes sale of North American Land Oil business
- North American Land Oil business acquired by Dorf Ketal
for USD 14.5 million
- The business generated sales of USD 115 million in
2022
- The divestment is a further step to structurally
improve Clariant’s portfolio and sustainability
profile
MUTTENZ, APRIL 3, 2023
Clariant, a focused, sustainable, and innovative specialty
chemical company, today announced the completion of the divestment
of its North American Land Oil business to Dorf Ketal, a specialty
chemicals manufacturer and service provider headquartered in India,
for USD 14.5 million on 31 March 2023.
Clariant’s North American Land Oil business is a provider of
chemical technologies and services to the North American oil and
gas industry and generated sales of USD 115 million in
2022. After seeing strong growth in 2018 and 2019, the global oil
industry entered a crisis in 2020. This prompted a strategic review
which concluded that the NORAM Land Oil business is primarily
service-oriented with a limited focus on sustainable solutions and
will not reach profitability levels expected for a specialty
chemicals portfolio.
“Clariant is a true specialty chemicals company whereas the
North American Land Oil business is primarily a distribution and
service business,” said Conrad Keijzer, Chief Executive Officer at
Clariant. “We are therefore glad that, with Dorf Ketal, we have
found the right owner for our customers and our employees. I want
to express my gratitude to our former colleagues and wish them all
the best in their new environment.”
The North American Land Oil business employs 180 professionals
in the USA and Canada.
| CORPORATE
MEDIA RELATIONS Jochen DubielPhone
+41 61 469 63 63jochen.dubiel@clariant.com Anne
MaierPhone +41 61 469 63 63anne.maier@clariant.com
Ellese CaruanaPhone +41 61 469 63
63ellese.caruana@clariant.com |
INVESTOR
RELATIONS Andreas Schwarzwälder
Phone +41 61 469 63 73andreas.schwarzwaelder@clariant.com
Maria IvekPhone +41 61 469 63
73maria.ivek@clariant.com Thijs
BouwensPhone +41 61 469 63
73thijs.bouwens@clariant.com |
|
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media release contains certain statements that are neither reported
financial results nor other historical information. This document
also includes forward-looking statements. Because these
forward-looking statements are subject to risks and uncertainties,
actual future results may differ materially from those expressed in
or implied by the statements. Many of these risks and uncertainties
relate to factors that are beyond Clariant’s ability to control or
estimate precisely, such as future market conditions, currency
fluctuations, the behavior of other market participants, the
actions of governmental regulators and other risk factors such as:
the timing and strength of new product offerings; pricing
strategies of competitors; the Company’s ability to continue to
receive adequate products from its vendors on acceptable terms, or
at all, and to continue to obtain sufficient financing to meet its
liquidity needs; and changes in the political, social and
regulatory framework in which the Company operates or in economic
or technological trends or conditions, including currency
fluctuations, inflation and consumer confidence, on a global,
regional or national basis. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this document. Clariant does not undertake
any obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date of these materials. www.clariant.com
Clariant is a focused, sustainable, and innovative specialty
chemical company based in Muttenz, near Basel/Switzerland. On 31
December 2022, Clariant totaled a staff number of 11 148 and
recorded sales of CHF 5.198 billion in the fiscal year for its
continuing businesses. As of January 2023, the Group conducts its
business through the three newly formed Business Units Care
Chemicals, Catalysts, and Adsorbents & Additives and will
report accordingly. Clariant’s corporate strategy is led by the
overarching purpose of ‘Greater chemistry – between people and
planet,’ and reflects the importance of connecting customer focus,
innovation, sustainability, and people. |
- Clariant Media Release Closing Divestment NORAM Land Oil
Business EN 20230403
- Clariant Media Release Closing Divestment NORAM Land Oil
Business DE 20230403
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