Clariant to establish a subsidiary for its plastics and coatings business

14-Aug-15

Clariant is to establish a separate subsidiary for its plastics and coatings business comprising masterbatches, additives and pigments, in order to improve profitability and cash generation. The new business will start operating on 1 January 2016 Clariant chief executive Hariolf Kottmann, said: "In the last few years our business units covering masterbatches, pigments and additives have established themselves as leaders in their respective markets in terms of profitability and market share "The new plastics and coatings subsidiary will further enable differentiated business steering with a clear focus on absolute profitability and cash generation to further safeguard and improve competitveness in already mature markets "This set up will further increase value creation for the group. That is why, the entity will remain a vital part of the operation" He added: "This step will also enable us to make appropriate investments in our growth areas.” Clariant’s existing masterbatches, additives and pigments, will be maintained with all approximately 7,000 employees, all assets and liabilities