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Clariant Unveils Wide-Reaching Corporate Transformation Program
August 12, 2003
Roland L?sser, Clariant's new chief executive, has announced a wide-reaching corporate transformation program that will significantly reduce debt, cut costs, and re-establish the group as a leading specialty chemicals company. The program, which is the result of an extensive internal review, includes the sale of the Cellulose Ethers and Electronic Materials businesses and the closure of four agrochemicals plants. Overall, the program targets more than CHF 1.5 billion in proceeds from asset sales and aims to increase the pre-tax return on invested capital (ROIC) within the next three to four years to at least 12 percent, up from the current level of around 7 percent.