15 November 2006 – Speciality chemicals group Clariant, the world’s leading supplier of colour masterbatch to the plastics industry, has unveiled a wide ranging cost cutting exercise which will see more than 2000 jobs go. At the same time, the company will axe 10% of its extensive site network in a project expected to cost SFr500m and to be aimed largely in Europe. The Clariant product range is also to be streamlined.
Chief executive Jan Secher says the programme is essential for Clariant to reach a top quartile position among its peers in value creation. Today’s announcement follows a six month review of its strategy, organisational effectiveness, portfolio components and operating practices. “We found that the company is headed in the right direction in most areas. What is required now is developing the company to achieve world class performance,” he says.
Clariant has not identified the plants which will be closed or the sectors in which they operate. However, it points out that colours is one of the strengths on which it aims to build.
