Clariant, Wilmar Agree Joint Venture For Producing Amines

ZURICH--Clariant AG (CLN.VX) Friday said it and Wilmar International Limited, an Asian agribusiness group, have signed an agreement to establish a 50-50 joint venture as the global platform for production and sales of amines and selected amines derivatives.

MAIN FACTS:

- The joint venture will be headquartered in Singapore with global sales, distribution and production affiliates.

- Subject to receipt of regulatory approvals, including merger clearances, the joint venture is expected to be operational in spring of 2013.

- Clariant will contribute its Industrial & Consumer Specialties (ICS) Business Unit's sales activities of relevant amines and defined derivatives to the joint venture as well as its amines plant in Germany and production output from its amines plant in Brazil.

- Headquartered in Muttenz, Switzerland, ICS has the highest sales volume in the Clariant Group and is one of the largest providers of specialty chemicals and application solutions for consumer care and industrial markets.

- Wilmar will contribute a new plant in China as well as its oleochemical expertise, including access to renewable raw materials.

- Wilmar is among the world's largest processors and merchandisers of palm and lauric oils.

-Zurich Bureau, Dow Jones Newswires, [phone]; [e-mail]

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