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Huntsman, Clariant Announce $20B Merger

Wednesday, May 24, 2017

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Global chemical companies Clariant (Muttenz, Switzerland) and Huntsman Corporation (The Woodlands, Texas) are planning to merge into one company, with predicted annual sales of more than $13 billion, according to an announcement made on Monday (May 22).

The all-stock merger will result in a company called HuntsmanClariant, with global headquarters in Switzerland and operational headquarters in Texas, the companies said. They expect the deal, valued at $20 billion, to close before the end of the year and say they are “confident that the required regulatory approvals can be obtained in a timely manner.”

Huntsman

The all-stock merger will result in a company called HuntsmanClariant, with global headquarters in Switzerland and operational headquarters in Texas, the companies said.

Huntsman says the merger should not impact its plans to spin off its Pigments and Additives business as its own company, Venator Materials Corp., a move that’s expected to occur this summer.

About the Companies

Huntsman, founded in 1970, achieved more than $9.6 billion in sales in 2016. The company’s Polyurethanes division accounted for 38 percent of revenues; the Pigments and Additives division and Performance Products each accounted for 22 percent. Advanced Materials made up 10 percent of its 2016 sales, with the remaining 8 percent coming from Textile Effects.

Peter Huntsman
Huntsman

Huntsman President and CEO Peter Huntsman will become CEO of HuntsmanClariant.

Huntsman manufactures a number of raw materials for coatings formulation. In addition to the pigments and additives that will be spun off as Venator, the company’s Advanced Materials division makes resins and curing agents, mainly for industrial and protective coatings. Huntsman Performance Products offers coating components (including functional amines, carbonates and polymer derivatives) and products for concrete manufacture. And the Polyurethanes division serves the coatings and adhesives industries, as well as furniture and other industries.

Clariant achieved sales of 5.8 billion Swiss francs—about $6.01 billion—in 2016. Its business units include Pigments, Additives and Catalysts, as well as Masterbatches (color additives for plastics), Functional Minerals, Oil and Mining Services and Industrial & Consumer Specialties. The company was formed in 1995 as a spinoff of chemical and pharmaceutical company Sandoz.

Clariant’s offerings for the coatings industry include pigments, pigment preparations and dyes, for decorative, automotive and industrial coatings.

Hariolf Kottmann
Clariant

Clariant CEO Hariolf Kottmann is set to become chairman of the board of the new company.

According to the plan, Hariolf Kottmann, current CEO of Clariant, will become chairman of the board for HuntsmanClariant, while current Huntsman President and CEO Peter Huntsman will become CEO of the new company. The new board will have equal representation from the Huntsman and Clariant boards.

Industry Consolidation

The announcement comes as a proposed merger between chemical-industry giants The Dow Chemical Company and DuPont inches closer to closing. That deal, valued at $130 billion, would create a company with approximately $74 billion in annual sales, then, within about two years, that company (known as DowDuPont) would split into three separate entities, concentrating on Agriculture, Material Science and Specialty Products.

   

Tagged categories: Clariant; Coatings raw materials manufacturers; Huntsman; Mergers; Raw materials

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