Clariant and Hoechst join specialty chemicals activity.Clariant Clariant (SWX: [1]) is a Swiss speciality chemical company which was formed in 1995 as a spin off from Sandoz. The company expanded by the incorporation of the speciality chemicals business of Hoechst (Germany) in 1997 and the acquisition of BTP plc (UK) in 2000. Ltd., Muttenz, Switzerland, and Hoechst AG Hoechst AG was a German life-sciences company that became Aventis after its merger with Rhône-Poulenc S.A. in 1999. It has been called "The pharmacy of the world" due to its important role in the world's drug market. , Frankfurt, Germany, have entered into a general agreement with the intention of combining their respective specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. businesses. Clariant will merge Hoechst's speciality chemicals business with its own activities and integrate it. In exchange. Hoechst will own a significant minority shareholding in the expanded Clariant Ltd. and will join the existing board of directors with three members, of which one will serve in the otherwise unchanged committee of the board. Clariant will remain headquartered in Muttenz. After the two businesses have been brought together, Clariant will be one of the world's leading suppliers of speciality chemicals with sales of nearly CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 8 billion. |
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