Swiss specialty chemicals group Clariant has snapped up German rival Süd-Chemie in a deal worth €2 billion (SFr2.6 billion), its first major buy in a decade.
This content was published on
1 minute
swissinfo.ch and agencies
Clariant, based at Muttenz near Basel, on Wednesday posted a fourth-quarter net profit of SFr47 million ($48.8 million). A Reuters poll had predicted a net loss of SFr5.4 million.
The group, which makes products that end up in a variety of goods, from shampoos to tyres and flat screen televisions, said it was looking forward to a stable business environment in 2011 as demand comes from the emerging markets.
The Süd-Chemie deal would add SFr1.6 billion in sales to Clariant, the group said, adding that the German firm was less exposed to the volatility of raw materials.
Popular Stories
More
Alpine Environment
My grandmother has lived in the same Swiss village for 100 years
Bodycams: essential for good law enforcement, or a privacy risk?
Did you ever come across bodycams in your place of residence and if so, how do you think the use of bodycams alter the relationship between the public and (transport) police?
What can be done to protect biodiversity in your country?
Swiss voters are set to decide on a people’s initiative calling for better protection of ecosystems in the country. Have your say on the September 22 vote.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Clariant sheds 570 more jobs and closes plants
This content was published on
The company, which makes pigments for a wide range of products from textiles to cars, has already announced more than 2,000 job cuts this year in a restructuring programme. Clariant, which is based near Basel, on Thursday said the aims of the cuts and closures was to “further optimise its global network in order to…
This content was published on
Swiss engineering firm Sulzer announced 1,400 global redundancies on Wednesday while chemicals maker Clariant confirmed 500 job losses at the weekend. Other manufacturers, the watch and finance industries are also laying off workers. The run of bad news appears to confirm the expectation of economists that some 5.5 per cent of the workforce will be…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.