• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Research
    • Markets & Technologies
    • Raw Materials
    • Top Companies
    • Directories
    • Jobs
    • Events
    • Microsites
    • More
  • Magazine
  • News
  • Research
  • Markets & Technologies
  • Raw Materials
  • Top Companies
  • Directories
  • Jobs
  • Events
  • Microsites
  • Current / Back Issues
    Features
    Business Corner
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    World Reports
    eBook
    Top Features
    Biocides Market Outlook - 2027

    Lab & Testing Equipment Directory

    Aerospace Coatings

    Resins Update

    Coatings World Q&A: Eileen Weber of allnex
    Breaking News
    Online Exclusives
    Distributor News
    Financial News
    Paint & Coatings Manufacturer News
    People In the News
    Price Increases
    Product News
    Raw Materials & Equipment
    Video Bites
    Suppliers News
    Live From Shows
    Top News
    Nippon Paint Automotive Americas Appoints Robert Angart CEO and President

    Sustainability, Economy are Focus of BCF’s Annual Conference

    Demand for Rhino Shield Increases

    ICP Receives ASC Innovation Award for Spray Foam That Meets Changing Environmental Regulations

    Pylon Coatings Uses Polygiene Biomaster & Verimaster for Antimicrobial Surface Protection
    Top Companies report
    Market Research
    White Papers / Tech Papers
    Technical Papers
    Product Spec Sheets
    World Reports
    Adhesives and Sealants
    Aerospace Coatings
    Architectural Coatings
    Automotive Coatings
    Automotive Refinish
    Business Operation
    Color Trends & Forecast
    Construction Chemicals
    Corrosion Control
    Industrial Coatings
    Laboratory Equipment
    Marine Coatings
    Market Trends & Forecast
    Powder Coatings
    Production Equipment
    Radcure Coatings
    Special Purpose Coatings
    Wood Coatings
    "Green" Coatings

    Nippon Paint Automotive Americas Appoints Robert Angart CEO and President

    Demand for Rhino Shield Increases

    PPG Demos MOONWALK Refinish Paint Mixing System at Media Event

    Pylon Coatings Uses Polygiene Biomaster & Verimaster for Antimicrobial Surface Protection

    Powder Coatings Institute 2022 Scholarship Recipients Announced
    Additives
    Binders
    Pigments
    Solvents

    The Shepherd Color Company Announces New President and Commercial Segment Leaders

    Birla Carbon to Present Sustainable Carbon-based Solutions at PaintIndia 2022

    BTC Europe, NXTLEVVEL Biochem to Distribute Biobased & Biodegradable Solvents in Europe

    Nouryon Issues 2021 Sustainability Report

    BASF to Increase Prices for Select Polyalcohols in North and South America
    Company Capabilities
    Buyers Guide
    Distributor Guide
    Add New Company
    International Buyers Guide Companies
    Clariant Additives

    W. R. Grace & Co.

    Siltech Corporation

    Active Minerals

    Shepherd Color Company, The
    Industry Events
    Webinars
    Live From Show Event
    Top Events
    Southern Society for Coatings Technology Annual Meeting and Technical Conference

    UTECH Middle East/Africa Foam & Polyurethane Expo

    Surfex

    Middle East Coatings Show 2022

    ABRAFATI 2022
    Companies
    White Papers/Tech Papers
    Product Spec Sheets
    Equipment
    Literature/Brochures
    Videos
    International Buyers Guide Companies
    Clariant Additives

    W. R. Grace & Co.

    Siltech Corporation

    Active Minerals

    Shepherd Color Company, The
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Business Corner
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Directories
      • Buyers Guide
      • Distributor Guide
      • Corporate Capabilities
      • Trade Associations
      • Add Your Company
    • Markets & Technologies
      • Adhesives and Sealants
      • Aerospace Coatings
      • Architectural Coatings
      • Automotive Coatings
      • Automotive Refinish
      • Business Operation
      • Color Trends & Forecast
      • Construction Chemicals
      • Corrosion Control
      • Industrial Coatings
      • Laboratory Equipment
      • Marine Coatings
      • Market Trends & Forecast
      • Powder Coatings
      • Production Equipment
      • Radcure Coatings
      • Special Purpose Coatings
      • Wood Coatings
      • "Green" Coatings
    • Raw Materials
      • Additives
      • Binders
      • Pigments
      • Solvents
    • World Reports
      • Africa Report
      • India/Asia Pacific Report
      • China Report
      • Europe Report
      • Latin America Report
      • Market Research
      • Russian Report
    • Top Companies
    • Online Exclusives
    • Slideshows
    • Experts Opinions
    • Blog
    • eBook
    • Infographics
    • Videos
    • Podcasts
    • Whitepapers
    • Jobs
    • Microsites
      • Companies
      • White Papers/Tech Papers
      • Product Spec Sheets
      • Equipment
      • Literature/Brochures
      • Videos
    • Events
      • Industry Events
      • Live From Show Event
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    Clariant and Huntsman to Combine in Merger of Equals

    ...

    Clariant and Huntsman to Combine in Merger of Equals
    Related CONTENT
    • Clariant, BU Pigments
    • Michelman Invests in Regulatory and EH&S Expertise
    • Clariant Additives
    • Huntsman Finalizes Acquisition of Gabriel Performance Products
    • IGM Resins Appoints Wilfrid Gambade as CEO
    05.22.17
    Clariant and Huntsman Corporation announced that their Boards of Directors unanimously approved a definitive agreement to combine in a merger of equals through an all-stock transaction.

    The merged company will be named HuntsmanClariant. On a pro forma 2016 basis[1], the combination of both companies will create a leading global specialty chemical company with sales of approximately $13.2 billion, an adjusted EBITDA of $2.3 billion and a combined enterprise value of approximately $20 billion at announcement.

    The combined entity will benefit from each other’s strengths. It will have a significantly improved growth profile in highly attractive end markets and geographies. HuntsmanClariant will leverage shared knowledge in sustainability and boast a much stronger joint innovation platform. This will enable the development of new products in order to deliver superior returns and drive shareholder value.

    CEO Comments

    “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,” said Hariolf Kottmann, CEO of Clariant. “This is in the best interest of all of our stakeholders. Peter Huntsman and I share the same strategic vision and I look forward to working with him.”           

    Peter R. Huntsman, President and CEO of Huntsman, commented: “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.”

    Transaction highlights

        All-stock merger of equals transaction
        Clariant shareholders: 52%, Huntsman shareholders: 48%
        Huntsman shareholders receive 1.2196 shares in HuntsmanClariant for each Huntsman share (each existing Clariant share will remain outstanding as a share in HuntsmanClariant)
        Board of Directors with equal representation from Clariant and Huntsman
        Global Headquarters in Pratteln, Switzerland, Operational Headquarters in The Woodlands, Texas
        Dual stock exchange direct listing on the SIX Swiss Exchange and the New York Stock Exchange

    Value Creation

    The new company will accelerate value creation for shareholders through a more robust combination of technology, products and talent. The combined company expects to realize more than $3.5 billion of value creation from approximately $400 million in annual cost synergies. The full synergy run-rate will be achieved within two years of closing. These synergies will be realized by reducing operational costs and improving procurement. The targeted synergies represent roughly 3 percent of total combined 2016 revenue with one-time costs up to $500 million. There will also be additional cash-tax savings.

    Corporate Governance

    The combined company, incorporated in Switzerland, will be governed by a Board of Directors with equal representation from Clariant and Huntsman and will follow Swiss Corporate Governance standards. Hariolf Kottmann, current Clariant CEO, shall become Chairman of the Board of HuntsmanClariant. Peter Huntsman, current Huntsman President and CEO, will become CEO of HuntsmanClariant. Jon Huntsman, founder and Chairman of Huntsman, shall become Chairman Emeritus and board member of HuntsmanClariant. The merger enjoys strong commitment from both Clariant and Huntsman family shareholders. The company will be listed on the SIX Swiss Exchange and the New York Stock Exchange. HuntsmanClariant will use IFRS, and beginning in Q1 2018 will report in USD and will start filing 10Qs and 10Ks consistent with SEC requirements.

    Timing

    The transaction is targeted to close by year end 2017, subject to Clariant and Huntsman shareholder approvals, regulatory approvals and other customary closing conditions. Clariant and Huntsman are confident that the required regulatory approvals can be obtained in a timely manner.
    Related Searches
    • innovation
    • merger
    • sustainability
    • chemical
    Related Knowledge Center
    • Additives
    Suggested For You
    Clariant, BU Pigments Clariant, BU Pigments
    Michelman Invests in Regulatory and EH&S Expertise Michelman Invests in Regulatory and EH&S Expertise
    Clariant Additives Clariant Additives
    Huntsman Finalizes Acquisition of Gabriel Performance Products Huntsman Finalizes Acquisition of Gabriel Performance Products
    IGM Resins Appoints Wilfrid Gambade as CEO IGM Resins Appoints Wilfrid Gambade as CEO
    Huntsman to Acquire Gabriel Performance Products Huntsman to Acquire Gabriel Performance Products
    Venator’s TiO2 JV Plant Resumes Operations After Production Halt Venator’s TiO2 JV Plant Resumes Operations After Production Halt
    Performance Enhancing Additives Performance Enhancing Additives
    Clariant to Invest in New Additives Facilities in China Clariant to Invest in New Additives Facilities in China
    Clariant Debuts Full Color Ranges for Design and Industry Trends Plus Additives Portfolio at ECS Clariant Debuts Full Color Ranges for Design and Industry Trends Plus Additives Portfolio at ECS
    Clariant Commences 2017 with Strong Sales Growth, Significantly Improved Absolute EBITDA Clariant Commences 2017 with Strong Sales Growth, Significantly Improved Absolute EBITDA
    Clariant Introduces Hostatint UV Range for Easy & Safe Coloration of Radiation Cured Coating Systems Clariant Introduces Hostatint UV Range for Easy & Safe Coloration of Radiation Cured Coating Systems
    Clariant Dives Deep into the Ocean to Forecast Trend Automotive Colors for 2019 Clariant Dives Deep into the Ocean to Forecast Trend Automotive Colors for 2019
    Rising Raw Material Prices Could Spark Increased Consolidation for European Coatings Companies Rising Raw Material Prices Could Spark Increased Consolidation for European Coatings Companies
    Clariant Pioneers Easy Application for Biocide-Free Mineral Paints Clariant Pioneers Easy Application for Biocide-Free Mineral Paints

    Related Content

    • Clariant, BU Pigments

      Clariant, BU Pigments

      ...
      Zachary Hays, Regional Head of Marketing, Americas 10.29.21

    • Breaking News | People in the News
      Michelman Invests in Regulatory and EH&S Expertise

      Michelman Invests in Regulatory and EH&S Expertise

      Adds Jon Hunter as director, global EH&S, Sonia Razzaque as VP of regulatory compliance and product stewardship.
      07.20.21

    • Clariant Additives

      Clariant Additives

      ...
      Victoria Mitchell, Senior Strategic Communications Manager 02.04.21


    • Additives | Breaking News | Industry News
      Huntsman Finalizes Acquisition of Gabriel Performance Products

      Huntsman Finalizes Acquisition of Gabriel Performance Products

      Gabriel acquired for $250 million.
      Coatings World staff 01.19.21

    • Breaking News | People in the News
      IGM Resins Appoints Wilfrid Gambade as CEO

      IGM Resins Appoints Wilfrid Gambade as CEO

      Gambade leads IGM Resins’ Global Executive Leadership team and succeeds Edward Frindt as CEO.
      Coatings World staff 01.11.21

      Trending
      • BEHR Launches COPPER FORCE Interior Paint
      • PPG Sets Goals To Reduce Greenhouse Gas Emissions, Unveils 2021 ESG Report | Coatings World
      • BASF Works with HS Students Aspiring for Careers in STEM
      • PPG Showcases CORACAR SE 4000B Battery Fire Protection Coatings
      • Sika Acquires United Gilsonite Laboratories
      Breaking News
      • Nippon Paint Automotive Americas Appoints Robert Angart CEO and President
      • Sustainability, Economy are Focus of BCF’s Annual Conference
      • Demand for Rhino Shield Increases
      • ICP Receives ASC Innovation Award for Spray Foam That Meets Changing Environmental Regulations
      • Pylon Coatings Uses Polygiene Biomaster & Verimaster for Antimicrobial Surface Protection
      View Breaking News >
      CURRENT ISSUE

      May 2022

      • Biocides Market Outlook - 2027
      • Lab & Testing Equipment Directory
      • Aerospace Coatings Market

      Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
      You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

      • About Us
      • Privacy Policy
      • Terms And Conditions
      • Contact Us

      follow us

      Subscribe
      Nutraceuticals World

      Latest Breaking News From Nutraceuticals World

      Thorne Relaunches Gut Health Test with Microbiome Wipe
      Alkemist Labs Announces Alkemist Assured Seal and Next Generation Transparency Reports
      GC Rieber Foundations Expand Philanthropic Efforts
      Coatings World

      Latest Breaking News From Coatings World

      Nippon Paint Automotive Americas Appoints Robert Angart CEO and President
      Sustainability, Economy are Focus of BCF’s Annual Conference
      Demand for Rhino Shield Increases
      Medical Product Outsourcing

      Latest Breaking News From Medical Product Outsourcing

      New Breast Implant Surgery Guidelines to Enhance Patient Safety
      Rhythm Management Group Debuts RhythmSynergy Tech Platform
      FDA Approves Trial Completion for Virtual Incision's MIRA Platform
      Contract Pharma

      Latest Breaking News From Contract Pharma

      iECURE Enters Agreement with Center for Breakthrough Medicines
      CPDC Enters Clinical Manufacturing Deal with CellBion
      Olon to Build New R&D Center in Italy
      Beauty Packaging

      Latest Breaking News From Beauty Packaging

      K-Beauty Brand Siita Shares Plastic Decomposition Technology with the Beauty Industry
      Shellworks Raises $6.2 Million in Seed Funding
      Ulta Beauty Reports Record First Quarter 2022 Results
      Happi

      Latest Breaking News From Happi

      Honeywell Addresses Critical Issues Such as Sustainability, Workforce Training and Digitalization
      Monat Global Wins Four Stevie Awards in the 20th Annual American Business Awards
      Coty Expands Vegan Beauty Portfolio With New Rimmel Mascara
      Ink World

      Latest Breaking News From Ink World

      Orion to Finish Gas Black Expansion in Germany by Early 2023
      Richard Childress Racing Shows Off New Wraps for 2022 NASCAR Season
      ProAmpac Acquires Specialty Packaging, Inc.
      Label & Narrow Web

      Latest Breaking News From Label & Narrow Web

      UPM Raflatac accelerates label growth with acquisition
      Labelexpo Asia 2022 postponed
      Teklynx software helps Top Clean Injection validate labels
      Nonwovens Industry

      Latest Breaking News From Nonwovens Industry

      Rael Raises $35M in Series B Funding
      Schobertechnologies Offers Rotary Web-fed Converting Solutions
      Thorne Relaunches Gut Health Test with Microbiome Wipe
      Orthopedic Design & Technology

      Latest Breaking News From Orthopedic Design & Technology

      Toetal Solutions Raises $1.02 Million in New Financing
      ManaMed's ManaSport Wearable Ultrasound Earns FDA Nod
      Ekso Bionics Names Jerome Wong as Interim CFO
      Printed Electronics Now

      Latest Breaking News From Printed Electronics Now

      SEMI Foundation Receives $1.5 Million Grant to Bolster Michigan’s Semiconductor Talent Pipeline
      onsemi Recognized by Fortune 500 for Its Transformation Journey
      LG Display Presents AI-Driven NFT Artwork on Transparent OLED

      Copyright © 2022 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

      AD BLOCKER DETECTED

      Our website is made possible by displaying online advertisements to our visitors.
      Please consider supporting us by disabling your ad blocker.


      FREE SUBSCRIPTION Already a subscriber? Login