Clariant

Clariant and Ashland complete sale of ASK Chemicals JV to Rhône

Muttenz/Covington, KY, July 1, 2014 - Clariant, a world leader in specialty chemicals, and Ashland Inc. (NYSE: ASH) today announced the closing of the previously announced sale of their joint venture ASK Chemicals, headquartered in Hilden, Germany, to investment funds affiliated with Rhône, a London and New York-based private equity investment firm on 30 June 2014.

The enterprise value of the transaction before debt and assumed liabilities amounts to CHF 310 million (EUR 257 million). After adjustments for debt and assumed liabilities, total pre-tax proceeds to the sellers will be approximately CHF 180 million (EUR 149 million), which includes CHF 155 million (EUR 128 million) in cash and a CHF 25 million (EUR 21 million) buyer note. Proceeds will be split evenly between Ashland and Clariant under terms of the 50/50 joint venture.

“The divestment of our stake in ASK Chemicals is part of our continuous active portfolio management to reallocate capital towards our more profitable growth areas,” said Hariolf Kottmann, CEO of Clariant.

With 1,800 employees in 25 countries ASK Chemicals is a leading foundry chemicals manufacturer. Its portfolio encompasses an exceptionally broad and innovative range of foundry resources such as binders, coatings, feeders, filters and release agents, as well as metallurgical products including inoculants, inoculation wires and master alloys for iron casting. In full-year 2013 ASK Chemicals generated revenues of EUR 513 million.

Reader enquiries

Clariant International Ltd
Rothausstrasse 61
4132 Muttenz 1
Switzerland

+41 61 469 6742

www.clariant.com

@clariant

Clariant

ClariantInternational

clariant_international


Notes for editors


www.clariant.com

Clariant is a globally leading specialty chemicals company, based in Muttenz near Basel/Switzerland. On December 31, 2013 the company employed a total workforce of 18,099. In the financial year 2013, Clariant recorded sales of CHF 6.076 billion for its continuing businesses. The company reports in four business areas: Care Chemicals, Catalysis & Energy, Natural Resources, and Plastics & Coatings. Clariant’s corporate strategy is based on four pillars: managing businesses for profitability, research & development and innovation, growth in emerging markets, and repositioning of the portfolio.

www.ashland.com

In more than 100 countries, the people of Ashland Inc. (NYSE: ASH) provide the specialty chemicals, technologies and insights to help customers create new and improved products for today and sustainable solutions for tomorrow. Our chemistry is at work every day in a wide variety of markets and applications, including architectural coatings, automotive, construction, energy, food and beverage, personal care, pharmaceutical, tissue and towel, and water treatment. Visit ashland.com to see the innovations we offer through our four commercial units - Ashland Specialty Ingredients, Ashland Water Technologies, Ashland Performance Materials and Ashland Consumer Markets.

www.ask-chemicals.com

ASK Chemicals is one of the world’s largest suppliers of foundry chemicals, with a comprehensive product and service portfolio of binders, coatings, feeders, filters and release agents, as well as metallurgical products including inoculants, inoculation wires and master alloys for iron casting. ASK Chemicals is represented in 25 countries with 30 sites, 20 of which operate their own production, and employs approx. 1,800 people worldwide. With research and development in Europe, America and Asia, ASK Chemicals sees itself as the driving force behind industry-specific innovations and is committed to offering customers a consistently high level of quality. Flexibility, quickness, quality and sustainability as well as cost-effective products and services are of key importance.

www.rhonegroup.com

Rhône, established in 1996, is a global private equity firm with a focus on investments in market leading businesses with a pan-European or transatlantic presence and expansion prospects. Rhône’s investment philosophy includes the development of strong, strategic partnerships with the companies in which it invests. Rhône has offices in London and New York and currently holds investments in a diversified portfolio of companies, including investments in the chemicals, consumer products, food, industrial, materials, mining and shipping industries.

 

Editorial enquiries

Kai Rolker
Clariant International Ltd

+41 61 469 6363

kai.rolker@​clariant.com

Stefanie Nehlsen
Clariant International Ltd

+41 61 469 63 63

stefanie.nehlsen@​clariant.com

Ulrich Steiner
Investor Relations
Clariant International Ltd

+41 61 469 6745

Ulrich.Steiner@​Clariant.com

Siegfried Schwirzer
Investor Relations
Clariant International Ltd

+41 61 469 6749

siegfried.schwirzer@​clariant.com

 

Also available in

 

Share

 

More news from