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Clariant on lookout for smaller targets, not a "bigger step" -CFO
April 27, 2017 / 9:48 AM / 5 months ago

Clariant on lookout for smaller targets, not a "bigger step" -CFO

ZURICH, April 27 (Reuters) - Clariant AG is still scanning for small- or mid-sized acquisitions but is not dependent on takeovers to meet its mid-term targets for boosting profitability and return on capital, Chief Financial Officer Patrick Jany said Thursday.

“We’re certainly always on the lookout to see whether there is a product group or a small company or mid-sized company that would be an add-on to our own technologies,” Jany said in an interview after the Swiss chemical maker released first-quarter sales figures that topped analyst expectations.

Last year, talks between Clariant and its U.S. peer Huntsman Corp ended over disagreement over who would lead such a combination.

Jany said on Thursday he remained convinced Clariant does not need to join in major European dealmaking to prosper, although he would not rule out seizing the right opportunity.

“We are not looking for bigger steps,” he said. “On the other hand, we always have to look at shareholder value, and if there is something that is not planned, something we don’t work for but happens to be a possibility to significantly increase shareholder value, we almost have to look at it.” (Editing by Michael Shields)

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