Clariant, a world leader in specialty chemicals, signed an agreement to acquire the remaining 50% shares of Companhia Brasileira de Bentonita (CBB) from Geosol, a world leader in analytical services for mineral exploration. The transaction is subject to certain conditions precedent, as well as regulatory approvals. The agreement enables Clariant to take full ownership of a Bentonit mine and a state-of-the-art production facility, employing 101 employees and located in Vitória da Conquista in the state of Bahia, Brazil. Financial details of the acquisition are not being disclosed. ??
CBB has a strong market position for products for Iron Ore Pelletizing (IOP), foundry, oil & mining drilling and civil engineering in Latin America. The transaction provides Clariant’s Business Unit Functional Minerals (BU FM) with a modern plant and it secures strategic raw clay reserves for its growing bleaching earth operations in Jacareí, Brazil. Clariant's joint control of CBB has enabled Functional Minerals to enter the attractive South American markets for foundry and IOP and to introduce high quality products and solutions to customers.
“The acquisition is in line with our strategy to capture profitable growth opportunities in emerging markets”, said Hariolf Kottmann, CEO of Clariant. “CBB offers excellent access to markets with great potential for our existing business and for future innovations, e.g. in agriculture or feed additives.”??
Sven Schultheis, Head of BU FM, said: “The investment reflects Clariant’s commitment to the growing bentonite business in Latin America. It strengthens our global position and gives us the opportunity to fully implement the technology and application know-how proven and applied around the world.”
Adapted from press release by Joe Green