Clariant strengthens its North American oilfield production chemicals business with two acquisitions

Clariant AG / Clariant strengthens its North American oilfield 
production chemicals business with two acquisitions . Processed and 
transmitted by Nasdaq Corporate Solutions. The issuer is solely 
responsible for the content of this announcement. 
 
 
 
 
 
 --    Purchases of Kel-Tech and X-Chem agreed to and 
       cleared by regulators 
 
 --    Clariant adds approx. USD 200 million of sales, 
       accelerating its growth as a leading provider of 
       oilfield production chemicals in North America 
 
 --    Expanded portfolio, increased presence in key 
       oil-producing basins, and strong complementary 
       operational efficiencies add value to expanded 
       customer base 
 
 
 
   Muttenz, September 14, 2016 - Clariant, a world leader in specialty 
chemicals, today announces two acquisitions in the oilfield production 
chemicals business. After closing, the agreed purchases of Kel-Tech Inc. 
and X-Chem LLC add approx. USD 200 million of sales, as well as 
personnel, technology and expertise to its existing activities in North 
America and accelerates the growth of its Business Unit Oil & Mining 
Services (OMS) as a leading provider of oilfield production chemicals in 
North America. 
 
   Clariant will leverage the new companies' brand and innovation to better 
meet market needs and expand market presence. The effective closing date 
of both acquisitions is October 1, 2016 and they are financed from cash 
at hand. All parties involved have agreed to not disclose any further 
financial terms. 
 
   "It is part of our global strategy to seize business opportunities in 
key markets with excellent future prospects through innovations and 
bolt-on acquisitions. Both of these acquisitions allow us to strengthen 
our position in one of the world's largest specialty chemicals markets, 
to benefit from the strong, innovation-driven growth perspective of the 
oil services industry in North America and are accretive to our earnings 
from year one on," says Hariolf Kottmann, CEO of Clariant. 
 
   The purchase of Kel-Tech from current owners Arsenal Capital Partners 
has been agreed and received regulatory clearance. Kel-Tech is a 
manufacturer and supplier of specialty chemical products for production, 
field stimulation, and drilling applications throughout onshore United 
States and has its headquarters in Midland, Texas. 
 
   In addition, Clariant has agreed to acquire X-Chem, headquartered in 
Irving, Texas, from current owner NCH Corporation. This acquisition has 
also received regulatory clearance. 
 
   X-Chem's operations are focused on land and offshore United States, 
where it provides specialty oilfield chemicals for the production, 
completion and stimulation of oil wells, gas wells and pipelines. 
 
   "The acquisitions are a significant step towards strengthening our 
footprint in North America. With this we will offer customers a stronger 
and more extensive product offering with customized products and 
solutions, while expanding our customer base significantly and gaining 
access to strategic oil-producing basins. Both Kel-Tech and X-Chem are 
well-run businesses with complementary operational efficiencies, which 
we can immediately incorporate into our existing business and combine 
with our state-of-the-art technology and R&D," says John Dunne, Global 
Head of Clariant's Business Unit Oil & Mining Services. 
 
 
 
 
Corporate Media Relations    Investor Relations 
Jochen Dubiel                Anja Pomrehn 
 Phone [phone]       Phone [phone] 
 [e-mail]   [e-mail] 
Thijs Bouwens                Steven Massheder 
 Phone [phone]       Phone [phone] 
 [e-mail]   [e-mail] 
Regional Media Relations 
Aimee Hawkins 
 Phone [phone] 
 [e-mail] 
 
 
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   www.clariant.com 
 
   Clariant is a globally leading specialty chemicals company, based in 
Muttenz near Basel/Switzerland. On 31 December 2015 the company employed 
a total workforce of 17 213. In the financial year 2015, Clariant 
recorded sales of CHF 5.807 billion for its continuing businesses. The 
company reports in four business areas: Care Chemicals, Catalysis, 
Natural Resources, and Plastics & Coatings. Clariant's corporate 
strategy is based on five pillars: focus on innovation through R&D, add 
value with sustainability, reposition portfolio, intensify growth, and 
increase profitability. 
 
   Press release english: http://hugin.info/100166/R/2041887/762033.pdf 
   Press release german: http://hugin.info/100166/R/2041887/762034.pdf 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Clariant AG via Globenewswire 
 
   --- End of Message --- 
 
   Clariant AG 
 
   Rothausstrasse 61 Muttenz 1 Switzerland 
 
   ISIN: CH0012142631; 
 
 
  http://www.clariant.com 
 

(END) Dow Jones Newswires

September 14, 2016 01:01 ET (05:01 GMT)