Clariant announces 18% sales decline and further restructuring plans
Swiss speciality chemicals company Clariant has announced plant transfers and closures as part of a second phase to its Global Asset Network Optimization (GANO) programme, designed to keep costs to a minimum. The company today reported 2009 sales of CHF6.614bn a decline of 18% in Swiss francs or 14% on local currency, which includes a 16% decline (in Swiss francs) in sales of functional chemicals.
Swiss speciality chemicals company Clariant has announced plant transfers and closures as part of a second phase to its Global Asset Network Optimization (GANO) programme, designed to keep costs to a minimum. The company today reported 2009 sales of CHF6.614bn a decline of 18% in Swiss francs or 14% on local currency, which includes a 16% decline (in Swiss francs) in sales of functional chemicals.
“We have successfully focused on generating cash, decreasing costs and reducing complexity,” commented ceo Hariolf Kottmann. ”In an economic environment that is still challenging, we will continue to focus on our restructuring efforts. The aim remains to achieve sustainable above industry-average profitability by the end of 2010 and to create a solid platform for profitable growth in the years thereafter.”
These restructuring efforts will include the transfer of Clariant’s textile dyes and chemicals production from Muttenz, Switzerland to Asia and the move of its paper chemical production to Prat in Spain. There will also be a partial plant closure at the company’s factory in Resende, Brazil, while the entire Balkum site in Thane, India will be shut down. The closures and transfers will be completed between 2011 and 2013 says Clariant, adding that approximately 500 jobs will be affected by these measures, 400 of which will be in Switzerland.
