Clariant: completes sale of masterbatches unit
(CercleFinance.com) - Clariant said late on Tuesday that it has completed the sale of its masterbatches business to US specialized polymer materials maker PolyOne for 1.
6 billion dollars.
"With this completed transaction, Clariant takes another significant step towards becoming a pure-play specialty chemical company," the Swiss firm said.
By focusing on its three core businesses (industrial products, high-performance catalysts and minerals), Clariant intends to deliver higher profitability, and outperform the market.
As a result of this divestment, Clariant will now proceed with the extraordinary cash distribution of three Swiss francs per share to its shareholders, with its payment date set on 8 July.
The share was up 7% after this announcement on the SIX Swiss Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
6 billion dollars.
"With this completed transaction, Clariant takes another significant step towards becoming a pure-play specialty chemical company," the Swiss firm said.
By focusing on its three core businesses (industrial products, high-performance catalysts and minerals), Clariant intends to deliver higher profitability, and outperform the market.
As a result of this divestment, Clariant will now proceed with the extraordinary cash distribution of three Swiss francs per share to its shareholders, with its payment date set on 8 July.
The share was up 7% after this announcement on the SIX Swiss Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.