Huntsman and Clariant merge
22/05/2017
HuntsmanClariant will be the new merged company’s name. At current rates, it will have combined sales of $13.2 billion per year and annual earnings of $2.3 billion and a combined enterprise value of approximately $20 billion.
Clariant chief executive, Hariolf Kottmann, said at the time of the announcement: “This is the perfect deal at the right time. Clariant and Huntsman are joining forces to gain much broader global reach, create more sustained innovation power and achieve new growth opportunities.”
His counterpart, Peter Huntsman, said: “I could not be more enthusiastic about this merger and look forward to working closely with Hariolf Kottmann, a man I have admired and trusted for the past decade. We also look forward to a close association with his immensely talented colleagues around the world. Together, we will create a global leader in specialty chemicals with a combined balance sheet providing substantial financial strength and flexibility.”
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