March 19, 2018 / 11:27 AM / 9 months ago

Clariant CEO says update on SABIC partnership likely in September

Chief Executive Hariolf Kottmann sits beside Chairman Rudolf Wehrli of Swiss specialty chemicals company Clariant as he addresses the annual shareholder meeting in Basel, Switzerland March 19, 2018. REUTERS/Arnd Wiegmann

BASEL (Reuters) - Clariant (CLN.S) aims to give a strategic update on its partnership with 25-percent investor Saudi Basic Industries Corp (SABIC) in September, Chief Executive Hariolf Kottmann told shareholders at the Swiss speciality chemicals maker’s annual general meeting on Monday.

“We see the commitment of this company as very positive and have already begun talks about our future closer cooperation,” Kottmann said. “In September we will be able to give you an update of the results to date.”

Saudi Basic Industries 2010.SE bought the 25 percent stake in January from activist investors, ending the Swiss chemical group’s fight that had led to a previously planned merger with U.S. chemicals maker Huntsman being scuttled. (HUN.N)

Reporting by John Miller, editing by John Revill

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