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    Breaking News

    Clariant and Huntsman Merge Operations

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    07.03.17
    Clariant and Huntsman Corporation have announced an 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, 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.


    The firms contend the combined entity will benefit from each other’s strengths, and will have a significantly improved growth profile in highly attractive end markets and geographies.


    Hariolf Kottmann, current Clariant CEO, will 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.


    “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 Kottmann. “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.”
              

    Global headquarters for the merged company will be in Pratteln, Switzerland. Operational headquarters will run out of The Woodlands, TX.


    The deal is expected to close by the end of the year.
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