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Clariant in transition phase with more divestments

February 17/2020

MOSCOW (MRC) -- Clariant is in a “clear transition phase” redefining the business’ direction over the next couple of years, said Wallstreet-online.

Hariolf Kottmann added that Clariant is looking for a new CEO as the executive committee and board continues to play an active role in shaping the company’s future direction. The focus is on finding the right person “as soon as possible, not as fast as possible”, according to Kottmann, who returned to the helm of Clariant after Ernesto Occhiello’s short-lived tenure last year.

“We designed a profile of the personality, the skills, and [what that person] should look like. There is nothing extraordinary included here, we are just looking for a capable woman or a capable man who can guide a company like Clariant,” said Kottmann, speaking to reporters in Zurich.

“We cannot wait [for further corporate moves] until a new CEO is in place … There is competition and a market, and if you do not change the way you operate, then you are irrelevant – which can happen in one-two years."

The process to find someone to take the helm of Clariant has continued since Kottmann’s returned to the role after Occhiello, but the incumbent asserted his opinion on remaining in the position. “I am not interested to staying in the position for the next two-three years in this role, this is a clear transition phase,” he added.

Clariant is continuing its divestment strategy, started last year with the sale of its healthcare business to Arsenal Capital Partners and the recent divestment of its masterbatch business unit to PolyOne.

As MRC  informed earlier, Clariant announced that it has been awarded a contract by Dongguan Grand Resource Science & Technology Co. Ltd. to develop a new propane dehydrogenation unit in cooperation with CB&I. The Dongguan plant will be one of the largest single-train dehydrogenation units in the world. Clariant's technology partner CB&I will base the plant's design on its Catofin® catalytic dehydrogenation technology, which uses Clariant's tailor-made Catofin catalyst and Heat Generating Material (HGM).

Propylene is the main feedstock for producing polyprolypele (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,093,260 tonnes in 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments rose from both domestic producers and foreign suppliers. The estimated PP consumption in the Russian market was 1,260,400 tonnes in January-December 2019, up by 4% year on year. Supply of almost all grades of propylene polymers increased, except for statistical copolymers of propylene (PP random copolymers).

Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints. Clariant India has local masterbatch production activities at Rania, Kalol and Nandesari (Gujarat) and Vashere (Maharashtra) sites in India.
Author:Anna Larionova
Tags:PP, PE, ethylene, propylene.
Category:General News
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