Clariant and Wilmar establish Joint Venture for amines and selected amines derivatives
- 50 - 50 Global Joint Venture
- Clariant’s Amines Competence meets Wilmar’s Oleochemical Expertise
Muttenz / Singapore, October 26, 2012 – Clariant Ltd , a world leader in specialty chemicals, and Wilmar International Limited, a leading Asian agribusiness group, have, through their respective subsidiaries, signed an agreement to establish a 50-50 joint venture as the global platform for production and sales of amines and selected amines derivatives. The joint venture will be headquartered in Singapore with global sales, distribution and production affiliates. Subject to receipt of regulatory approvals, including merger clearances, the joint venture is expected to be operational in spring of 2013. “Wilmar and Clariant will leverage on their companies ’ individual strengths to create a global platform with significant growth opportunities. With this first step, both partners are dedicated to creating a new leading player in the global amine and amine derivatives market. For Clariant it is also an important next move on our way to further optimizing our portfolio," said Clariant CEO Hariolf Kottmann. “This collaboration combines Wilmar’s integrated agribusiness model and our large presence in basic and downstream oleochemicals with Clariant’s technical expertise and established market presence in amines. The joint upstream and downstream strengths of our businesses make the merits of this venture very compelling”, said Kuok Khoon Hong, Chairman & CEO of Wilmar.
Clariant will contribute its Industrial & Consumer Specialties (ICS) Business Unit’s sales activities of relevant amines and defined derivatives to the joint venture as well as its amines plant in Germany and production output from its amines plant in Brazil. Headquartered in Muttenz, Switzerland, ICS has the highest sales volume in the Clariant Group and is one of the largest providers of specialty chemicals and application solutions for consumer care and industrial markets. Wilmar will contribute a new plant in China as well as its oleochemical expertise, including access to renewable raw materials. Wilmar is among the world's largest processors and merchandisers of palm and lauric oils. “Due to its strong roots in Asia combined with plans to expand the business globally, Wilmar is an excellent partner for Clariant to support our customer base in all parts of the world”, said Michael Willome, Head of Business Unit ICS