Clariant acquires full control of consortium with Carboflex in Brazil to further expand its offshore offering

• The acquisition of Carboflex's 50% participation is aligned with Clariant's Oil and Mining Services strategy to offer a more comprehensive portfolio of products and services with integrated logistics
• The Clariant/Carboflex consortium was founded in 2014 to design and build the Guanabara Bay plant to deliver quality and reliable chemical solutions that adhere to strict safety and environmental protection standards
• The plant's private-use port terminal offers Clariant yet another competitive advantage to meet the demands of the offshore oil and gas market in Brazil

Muttenz, June 24, 2016 – Clariant, a world leader in specialty chemicals, today announced the acquisition of Carboflex's 50% stake in the consortium that built and operates the Guanabara Bay plant. The facility, located in Rio de Janeiro, Brazil, produces chemicals used in oil and gas wells. The acquisition is part of the investment strategy of Clariant's Business Unit Oil and Mining Services and allows the company to take full control of the plant to further expand its chemical offering to offshore customers, while optimizing delivery times.

"The completion of this acquisition consolidates an operation that has been developed over the past few years and is a key part of our strategy to improve supply chain capabilities and more promptly meet the demands of the Brazilian offshore industry," highlights John Dunne, Global Head of the Business Unit Oil and Mining Services. "Our plans to further expand our technical portfolio and expertise will allow us to work more closely with operators in the Brazilian oil and gas market to meet their challenges."

The plant produces a full line of drilling and completion fluids that adhere to strict safety and environmental protection standards. It also comprises extensive infrastructure, including offices, warehouses, laboratories and a private-use port terminal, which enables Clariant to offer an integrated production and logistics solution.

"In addition to producing fluids that are critical to the exploration and production of oil, the plant's infrastructure enables Clariant to store and ship chemical solutions, via the terminal, to offshore customers operating throughout the country," explains Carlos Tooge, Vice President of the Business Unit Oil and Mining Services for Latin America. The geographic location of the facility is strategic given that it is close to Brazil's three major oil basins – Santos, Campos and Espírito Santo ― which produce more than 90% of the country's oil. "Our goal is to provide the Brazilian market with a comprehensive portfolio of solutions for the offshore exploration and production of hydrocarbons," concludes Tooge.