At today´s Annual General Meeting, the shareholders of Clariant
(SWX:CLN), a global leader in specialty chemicals, adopted each of the
motions proposed by the Board of Directors by a large majority.
The Annual General Meeting approved the Annual Report and the
financial statements, among other things. Discharge was granted to the
Board of Directors and the Management Board. The shareholders also
approved a payout of CHF 0.25 per share by reducing nominal value.
Hariolf Kottmann (52), Dominik Koechlin (49) and Carlo G. Soave
(48) were elected as new members of the Board of Directors for a
three-year term of office. They replace Roland Losser and Kajo
Neukirchen, who have decided not to stand for re-election, and Tony
Reis, who has stepped down from the Board of Directors. Peter Isler
was re-elected.
Clariant´s Chief Executive Officer Jan Secher explained to the
shareholders the course business had taken in 2007. He said the
foundations had been laid for improving the company´s profitability
and that the path embarked upon would be pursued with resolve. This
would mean implementing cost-saving initiatives on the one hand, and
further price increases on the other, with both contributing to a
better operating margin in 2008. He referred to the fact that the
trend towards consolidation in many customer industries would also
impact Clariant. The company plans to manage its portfolio more
actively in future, and thus benefit from these consolidation moves.
In Secher´s words: "We are currently market leaders for many of
our products, but very often in highly fragmented markets that are
determined by a multitude of smaller competitors. In such markets, it
is extraordinarily difficult to achieve appropriate prices or set
trends in technology. This requires consolidation. Here at Clariant we
have resolved to actively cooperate in the consolidation of these
fragmented markets. In future, we will concentrate on those areas of
our portfolio where we enjoy good market positions and solid returns.
We will build on our leading position here not only through organic
growth but also by means of acquisitions."
Secher also highlighted the importance of both innovations in
process improvements as well as innovations in new products and
technologies. He mentioned an additive to improve the flow of
biodiesel, a nanotechnology product that helps to minimize the
economic impact of graffiti vandalism and temperature sensitive
polymer dyes from renewable resources as recent examples.
Roland Losser, the outgoing Chairman of the Clariant Board of
Directors, set out the company´s strategy in his speech. Referring to
the high growth rates in the BRIC countries of Brazil, Russia, India
and China, he explained that Clariant will focus more strongly on
these markets in the future, but without neglecting the traditional
markets in the US and Europe, which are set to remain the world´s
largest chemicals markets for decades to come. With regard to the
company´s growth prospects for 2008, the Chairman of the Board of
Directors explained the importance of closely monitoring economic
developments. However, he said any negative trends had yet to affect
Clariant´s business performance and further growth is predicted for
2008.
Clariant - Exactly your chemistry.
Clariant is a global leader in the field of specialty chemicals.
Strong business relationships, commitment to outstanding service and
wide-ranging application know-how make Clariant a preferred partner
for its customers.
Clariant, which is represented on five continents with over 100
group companies, employs about 21,000 people. Headquartered in
Muttenz, near Basel, Switzerland, it generated sales of CHF 8.5
billion in 2007. Clariant´s businesses are organized in four
divisions: Textile, Leather & Paper Chemicals, Pigments & Additives
Masterbatches and Functional Chemicals.
Clariant is committed to sustainable growth springing from its own
innovative strength. Clariant´s innovative products play a key role in
its customers´ manufacturing and treatment processes or else add value
to their end products. The Company´s success is based on the know-how
of its people and their ability to identify new customer needs at an
early stage and to work together with customers to develop innovative
efficient solutions.
