April 5, 2018 / 5:29 AM / 9 months ago

Clariant expects sales of about $2 billion in North America by 2021‍​

FILE PHOTO: A woman stands next to a logo of Swiss specialty chemicals company Clariant ahead of a news conference to present the company's full-year results, in Zurich, Switzerland, February 14, 2018. REUTERS/Moritz Hager

ZURICH (Reuters) - Swiss specialty chemicals maker Clariant (CLN.S) said on Thursday it expected North America to become its second-largest market with sales of about $2 billion by 2021.

Key elements in this growth strategy include advancing its research and development competencies, a CAPEX investment of $250 million to further increase both its manufacturing footprint and technical capabilities, and the leveraging of shale gas opportunities, Clariant said in a statement.

Clariant has over 50 sites and more than 2,400 employees in the U.S. and Canada and currently generates a turnover of around $1.25 billion in the region, it said.

Reporting by Silke Koltrowitz; editing by Brenna Hughes Neghaiwi

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