March 14, 2018 / 9:42 AM / a year ago

Clariant CEO says update on SABIC partnership likely in September

BASEL, March 19 (Reuters) - Clariant 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 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.

Reporting by John Miller, editing by John Revill

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