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Clariant Says It Will Not Be Broken Up

3:42 AM MDT | October 7, 2008 | Natasha Alperowicz

Clariant dismissed a recent report in Sonntag, a Swiss Sunday newspaper, that it will be broken up under the new CEO Hariolf Kottmann, who took the helm on October 1st. Kottmann told staff on his first day that he has no plans to split up Clariant and sell it piece by piece or divest the entire business, the company says. A merger with a competitor is also not in the cards, Kottmann says. He does, however, say that "further restructuring to create a platform for enduring competitiveness," is needed. Sonntag reported that Clariant planned to sell...

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