Business

Full year results 2011: Clariant improves profitability, reinstates dividend

Clariant today announced full-year 2011 sales of CHF 7.370 billion, compared to CHF 7.120 billion in 2010. Sales grew 16% in local currencies and 4% in Swiss francs. The lower growth in Swiss francs was a result of the significant appreciation of the Swiss franc against most major currencies on a year-on-year basis.

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At the 17th Annual General Meeting of Clariant Ltd on March 27, 2012, Dr. Jürg Witmer will step down from his roles as Chairman and Member of Clariant Ltd's Board of Directors. The Board has appointed the current Vice-Chairman Dr. Rudolf Wehrli as his successor.

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In spite of an increase in production for 2011 b y Italian textile machinery manufacturers, forecasts remain cautious for the current year. Provisional figures for 2011 for Italy’s textile machinery sector show a further increase in manufacturing production and exports, following a good recovery in 2010 – this, after a 2009 during which machinery manufacturers were hit hard by the recession.

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Today, Clariant successfully priced an Eurobond transaction of EUR 500 million with a tenor of 5 years, issued by Clariant Finance (Luxembourg) S.A. and guaranteed by Clariant Ltd.

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BASF today announced that it will build a single-train 300,000 metric tons per year production plant for TDI (toluene diisocyanate) and expand additional plants for its precursors at its site in Ludwigshafen. These include the construction of a new hydrogen chloride recycling plant as well as the expansion of plants for nitric acid, chlorine and synthesis gas. It is also planned to expand the aromatics complex at the site for the supply of toluene.

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Agreement between Toyota Industries Corporation and Uster Technologies Ltd. — Increase of offer price for all publicly held registered shares of Uster Technologies Ltd.

On 8 November 2011, TICO published a pre-announcement of the public tender offer for all publicly held shares of Uster with an offer price of CHF 38.00 ("Offer Price"). After consummation of the share purchase agreement between TICO and Groupe Alpha regarding the purchase of a 21.88% stake in Uster on 15 February 2012, the public tender offer became a mandatory offer. Since 15 February 2012, TICO holds 50.34% of the share capital and the voting rights in Uster.

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Uster with record sales and profit levels

Uster Technologies Ltd, the leading high technology instrument manufacturer of products for quality measurement and certification for the textile industry, posted strong performance levels and achieved new record sales in the financial year 2011.

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The new TexData Magazine is published and ready for download

This was hard work producing our first issue of the new TexData Magazine. However - here is it with three articles with topics the textile industry is talking about.

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Italien textile machinery: signs of a recovery for orders in fourth quarter of 2011

Orders for Italian textile machinery sector are back on the rise. Sandro Salmoiraghi, President of ACIMIT: “Despite the economic crisis, our sector is showing signs of a recovery in sales after two negative quarters.”

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GERRY WEBER takes over fashion company Wissmach, Göppingen/Germany

Subject to approval by the Federal Cartel Office, GERRY WEBER International AG will take over the substantial assets of Wissmach Modefilialen GmbH, which has filed for insolvency, with effect from 15 March 2012.

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