AGM Statement
Clariant International AG
Clariant Annual General Meeting Confirms Company's Course
All motions proposed by the Board of Directors adopted by a large majority
At today's Annual General Meeting, the shareholders of Clariant, 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 Losser 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 Losser, 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.
Clariant - Exactly your chemistry.
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.
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Clariant
Media Relations
Arnd Wagner, +41 61 469 61 58
or
Investor Relations
Ulrich Steiner, +41 61 469 67 45
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