Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Clariant Annual General Meeting Confirms Company's Course

Abstract:
All motions proposed by the Board of Directors adopted by a large majority

Clariant Annual General Meeting Confirms Company's Course

MUTTENZ, Switzerland | Posted on April 10th, 2008

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 Lösser 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 Lösser, 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.

####

About Clariant
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.

For more information, please click here

Contacts:
Clariant
Media Relations
Arnd Wagner
+41 61 469 61 58
or
Investor Relations
Ulrich Steiner
+41 61 469 67 45

Copyright © Business Wire 2008

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

The dispute about the origins of terahertz photoresponse in graphene results in a draw April 26th, 2018

Getting a better look at living cells April 25th, 2018

Graphene origami as a mechanically tunable plasmonic structure for infrared detection April 25th, 2018

Nuclear radiation detecting device could lead to new homeland security tool: New device can detect gamma rays and identify radioactive isotopes April 25th, 2018

Chemistry

Salt boosts creation of 2-D materials: Rice University scientists show how salt lowers reaction temperatures to make novel materials April 18th, 2018

Phononic SEIRA -- enhancing light-molecule interactions via crystal lattice vibrations April 10th, 2018

Design approach developed for important new catalysts for energy conversion and storage: New method could aid in design of pharmaceuticals and optical and data storage materials March 21st, 2018

New 4-D printer could reshape the world we live in March 20th, 2018

Announcements

The dispute about the origins of terahertz photoresponse in graphene results in a draw April 26th, 2018

Getting a better look at living cells April 25th, 2018

Graphene origami as a mechanically tunable plasmonic structure for infrared detection April 25th, 2018

Nuclear radiation detecting device could lead to new homeland security tool: New device can detect gamma rays and identify radioactive isotopes April 25th, 2018

Events/Classes

Grand Opening of UC Irvine Materials Research Institute (IMRI) to Spotlight JEOL Center for Nanoscale Solutions: Renowned Materials Scientists to Present at the 1st International Symposium on Advanced Microscopy and Spectroscopy (ISAMS) April 18th, 2018

Nanobiotix Shows NBTXR3 Nanoparticles Can Stoke Anti-Tumor Immune Response April 17th, 2018

HTA to Present European Strategy for Competitive Micro- and Nanotechnologies & Smart Systems: Special Event in Brussels on April 24 Gathers Research Institutes’ CEOs, European Commissioners and Key European Industrials April 17th, 2018

Lifeboat Foundation funds flying 3D-printed classroom cubesats with Perlan II April 16th, 2018

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project