Clariant International AG
Clariant AG part 2
Clariant AG: Part 2 of 3
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Newly Sharpened Strategy
In detailing the newly sharpened strategy, Mr. Lösser said Clariant will focus
mainly on businesses where it can combine its strong customer service
capabilities with its leading-edge surface and color technology. “We have a lot
to be proud of in this area,” Mr. Lösser said. “Clariant has already very
successfully built many of these types of businesses, for example
Masterbatches, Performance & Process Chemicals, Textile Chemicals and Coatings.
We will build further on these strengths.”
Mr. Lösser said that in addition to Cellulose Ethers and Electronic Materials,
several other businesses will be sold. “Meanwhile we will ensure that their
value is maintained and in some cases improved. We are fully committed to
delivering to customers of these businesses Clariant’s high quality standards,”
he said.
The businesses Clariant has decided to sell are either not central to the new
focus, carry high investment requirements or cannot achieve leading market
positions. Interest shown by potential buyers has been highly encouraging and
the company is confident of achieving the target of raising over CHF 1.5
billion in proceeds.
Clariant also has several under-performing businesses where the company, after
having considered all options, believes internal restructuring must be the
first priority. This restructuring includes the Life Sciences division, where
four Custom Synthesis plants producing agrochemicals in the U.S. and in Germany
will be closed, resulting in a workforce reduction of approximately 200
employees.
Reducing Costs and Increasing Cash Flow
The corporate transformation program includes short-term actions to reduce
costs and increase cash flow with minimal restructuring charges. Short-term
measures will focus on the areas of working capital , purchasing and logistics,
reducing the cost base by over CHF 100 million by 2004. Further medium-term
structural measures will focus on reducing manufacturing and administrative
costs. Overall, the transformation program aims to improve Clariant’s operating
income (EBIT) by over CHF 400 million over the medium-term. The program will be
driven by a strengthened, central senior management team to ensure successful
implementation across divisions and functions.
“The transformation program, which is to be activated immediately, marks a
major shift in focus and determination,” Mr. Lösser said. “Ultimately it will
make Clariant a stronger, more profitable company.”
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2 Working Capital: Current assets minus interest-free liabilities. The
development of the Working Capital gives an indication as to how efficiently a
company manages its funds.
end of ad-hoc-announcement (c)DGAP 05.08.2003
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Uwe Nickel
Head of Pigments & Additives Division
Uwe Nickel was appointed Head of Clariant’s Pigments & Additives Division in
April 2003. He has been with the PA Division since 1997, serving as Global Head
of Technology, Sector AZO Pigments; Global Head of Pigments Technology; and
Global Head of Business Unit Specialized Industries.
Dr. Nickel was born in Germany in 1958 and earned a doctorate in Organic
Chemistry (Dr. phil. nat.) in 1986. He is married and has one daughter.
Dominik von Bertrab
Head of Masterbatches Division
Dominik von Bertrab was appointed Head of Clariant’s Masterbatches Division in
April 2003. He has held several positions with Clariant since its formation in
1995, including Chief Operating Officer for Clariant (Hong Kong) Ltd.; Head of
Controlling for the Textiles, Leather & Paper Chemicals Division; Head of
Business Unit Paper in the TLP Division; and Head of Corporate Human Resources.
Mr. von Bertrab was born in Switzerland in 1959 and earned a degree in business
administration and economics from the University of St. Gallen.
Siegfried Fischer
Head of Functional Chemicals Division
Siegfried Fischer was named Head of Clariant’s Functional Chemicals Division in
April 2003. He joined Clariant in 1997 as Head of Production and Technology in
the Process & Performance Products Division. In 1998, he became Head of the
Performance Chemicals Business Unit in the Functional Chemicals Division.
Dr. Fischer was born in Germany in 1955 and earned a degree in mechanical
engineering from the University of Siegen. He is married and has two children.
Joachim Mahler
Head of Division Life Science & Electronic Chemicals
Joachim Mahler was appointed Head of Clariant’s Life Science & Electronic
Chemicals Division in 2002. He formerly served as Head of Emerging Markets from
1997 to 1998 and Head of Division Cellulose Ethers and Polymerisates from 1999
to 2001.
Born in Germany in 1952, Mr. Mahler earned a Master of Science in physics from
the Technical University of Berlin as well as a master of science in
engineering management at Stanford University. He is married and has three
children.
Hartmut Wiezer
Head of Technology and Innovation
Harmut Wiezer has been Head of Research and Development for Clariant since
2000. From 1997 to 1999, he served as Head of Clariant’s Fine Chemicals
Division.
Born in 1947 in Germany, Dr. Wiezer earned a doctorate in chemistry from the
University of Göttingen. He is married and has two children.
Your contacts at Clariant
Media Relations
Christoph Hafner Tel. +41 61 469 67 46
Rainer Weihofen Tel. +41 61 469 67 42
Fax +41 61 469 69 99
Investor Relations Tel. +41 61 469 67 48
Fax +41 61 469 67 67
Iris Welten Tel. +41 61 469 67 47
Holger Schimanke Tel. +41 61 469 67 45
Daniel Leuthardt Tel. +41 61 469 67 49
Clariant – Exactly your chemistry.
Based at Muttenz near Basel, Switzerland, Clariant is a global leader in the
field of fine and specialty chemicals. Some 28 000 employees in more than 100
group companies on five continents generate annual sales of over CHF 9 billion.
Clariant is divided into five Divisions: Textile, Leather & Paper Chemicals,
Pigments & Additives, Masterbatches, Functional Chemicals, Life Science &
Electronic Chemicals.
Clariant’s innovative products play a decisive role in the customers’
manufacturing and treatment processes or add value to their end-products. The
company’s success is based on the know-how of its staff, and on their ability
to identify new customer needs at an early stage and to work together with
customers to find innovative, efficient solutions.
Clariant is committed to sustainable growth springing from its own innovative
strength. Our objective is to achieve 30% of sales with products and services
that are no more than five years old.
http://www.clariant.com
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WKN: 895929; ISIN: CH0012142631; Index: SMI
Listed: Amtlicher Markt in Frankfurt (General Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, München und Stuttgart; Schweizer Börse (Hauptsegment); SEAQ-
Handel in London
050738 Aug 03
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