Swiss Clariant to benefit from US shale gas boom - CEO

22 June 2012 12:30  [Source: ICIS news]

MUNICH (ICIS)--Clariant is set to benefit from the shale gas boom in the US, the Swiss specialty chemicals maker’s CEO said on Friday.

Hariolf Kottmann said there are positive implications from shale gas extraction, which is helping to reindustrialise the chemical industry in the US.

He added that the group's Oil and Mining Service's business unit should benefit, particularly following its acquisition of Canada-based oil services firm, Prairie Petro-Chem in April 2011.

"With our acquisition we are in a region in Canada where the shale gas play an important role," he said.

Clariant's Catalysts business is also set to profit from the boom.

“Currently there are 8m tonnes of additional cracker capacity announced to be built in the US. Each cracker and each follow-up downstream unit which consumes catalyst can sooner or later go to Clariant for this," he said.

"An increase in capacity in any case means an increase in our business, how strong – we will see," Kottmann added.

I don’t think there will be a very negative impact on the company as we are far too downstream compared with our competitors,” he said.

Kottmann was speaking at Clariant’s capital markets and media day in Munich, Germany.

By: Franco Capaldo
+44 (0)20 8652 3214

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