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CLARIANT wants to sell its pigment business!
FRANKFURT/ZURICH (Reuters) - Switzerland's Clariant (CLN.S) has begun the sale of its pigments busin...ess as part of wider a streamlining which it has said it will complete by the end of 2020, sources said. Saudi Arabia's Saudi Basic Industries (SABIC) bought a 25 percent stake in Clariant last year, ending a dispute between the Swiss company and U.S.-based activist investor White Tale which scuttled a planned merger with U.S.-based Huntsman Corp. Clariant has mandated Deutsche Bank (DBKGn.DE) to find a buyer for the pigments business, which could be valued at around 800 million Swiss Francs (£642.3 million), the sources told Reuters, adding that private equity firms were likely buyers. Another source said the pigments business's enterprise value could top 1.3 billion francs, with additional parts of the plastics and coatings unit that are up for disposal bringing total proceeds to between 1.5 billion and 1.6 billion francs when divestitures are completed by the end of 2020, as Clariant has targeted. The pigments industry has suffered from price pressure as Asian firms have taken market share, although more stringent environmental rules in China and India give Clariant an edge. The Swiss company is expected to send out information packages on the unit in the first quarter, aiming to sign a deal as early as before the summer break, they added. Rivals such as BASF (BASFn.DE), which has spun out its pigments business into a separate legal entity, are less likely to show any interest in the Clariant division, the sources said. Clariant, which began carving out its plastics and coatings business for eventual disposal four years ago, and Deutsche Bank both declined to comment on Wednesday. Clariant moved what was then a unit with 2.6 billion francs in annual sales, with products including plastic colourings, additives and pigments, into a separate subsidiary, sparking speculation about the company's future. In 2017, Clariant announced a planned merger with Huntsman, only to have this derailed by White Tale, whose owners instead suggested the Swiss firm consider selling off plastics and coatings and review all alternatives for the rest. Clariant said ... More to read on link below
TRONOX CEO says: We continue to work diligently with our partners and INEOS to reach a resolution with the FTC
STAMFORD, Conn., Jan. 8, 2019 /PRNewswire/ -- Tronox Limited (NYSE: TROX) ("Tronox" or the "Company"...), a global mining and inorganic chemicals company, today commented on the status of its ongoing discussions with the Federal Trade Commission seeking approval of a proposed remedy related to the acquisition of the titanium dioxide (TiO2) business of The National Titanium Dioxide Company Limited (Cristal). Throughout the duration of the partial shutdown of the U.S. government, agency personnel are not allowed to work on the Tronox matter, including any further consideration of the proposed remedy, since the pending acquisition is not considered an essential matter under the agency's shutdown guidelines. In addition, existing deadlines for filing motions in the matter are extended to five business days after the shutdown ends. "We continue to work diligently with our partners at Cristal, Tasnee and the prospective purchaser of the Ashtabula complex, INEOS Enterprises A.G., to reach a resolution with the FTC, and we remain optimistic one will be reached once discussions resume," said Jeffry N. Quinn, president and chief executive officer of Tronox. About Tronox Tronox Limited is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper and other everyday products. For more information, visit tronox.com. About Cristal Cristal (also known as The National Titanium Dioxide Company Limited) operates eight manufacturing plants in seven countries on five continents and employs approximately 4,100 people worldwide. Cristal is owned 79 percent by Tasnee (a listed Saudi joint-stock company) and 20 percent by Gulf Investment Corporation (GIC), a company equally owned by the six states of the Gulf Cooperation Council (GCC), headquartered in Kuwait. One percent of the company is owned by Dr. Talal A. Al-Shair, who also serves as vice chairman, Tasnee and chairman of Cristal. About INEOS INEOS Enterprises is comprised of a portfolio of businesses manufacturing and distributing chemical products from its facilities and offices in Europe, USA, Canada, and Asia with global sales of more than €1bn. INEOS Enterprises is focused on meeting the developing needs of its customers and rapid growth both through acquisition and through investment in new manufacturing facilities/products. more on link below
PPG Acquires Automotive Coatings Manufacturer Hemmelrath Germany
PPG said it reached a definitive agreement to acquire automotive coatings manufacturer Hemmelrath. T...he transaction is expected to close in the first half of 2019, subject to customary closing conditions. Financial terms were not disclosed. “This acquisition is another step forward in our strategic growth plan that will provide further value to our customers and shareholders,” said Michael McGarry, PPG chairman and CEO. Headquartered in Klingenberg, Germany, Hemmelrath is a family-owned manufacturer of coatings for automotive OEMs. With more than 450 employees, the company operates manufacturing facilities in Klingenberg and Erlenbach, Germany; Jilin, China; Duncan, South Carolina; and Indaiatuba, Brazil. “The fit between Hemmelrath and PPG is complimentary. The acquisition will enhance PPG’s automotive coatings offering, and add formulating and manufacturing solutions,” said Rebecca Liebert, PPG SVP, automotive coatings.
CLARIANT REDUCES STAKE IN STAHL
Clariant reduces its stake in Stahl by 25 % Clariant to remain invested as financial investor Mutten...z, January 3, 2019 – Clariant, a world leader in specialty chemicals, today announced that it reduced its stake in the Netherlands-based Stahl group by 25 % from 19.7 % to 14.8 %. Clariant will remain invested in the company as a financial investor. Stahl is a producer of high-quality chemicals, dyes, and coatings for leather and other applications and has about 2 000 employees. In 2014 Clariant sold its Leather Service business to the Stahl group for a cash consideration and a 24 % stake in the acquiring group.
FTC judge issues decision against Tronox-Cristal deal !!!
 
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