Swiss specialty chemicals company Clariant is to establish a separate subsidiary for plastics and coatings, comprising the three business units for masterbatches, additives and pigments. The company said the move is designed to “fully leverage their value creation potential”. The new subsidiaries will be fully owned by Clariant and will start operating as of January 1, 2016.

Company CEO, Hariolf Kottmann, said: “The new plastics & coatings subsidiary will further enable differentiated business steering with a clear focus on absolute profitability and cash generation to further safeguard and improve competitiveness in already mature markets. This step will also enable us to make appropriate investments in our growth areas.”

Clariant said the existing business unit structure will be maintained as well as all employees, assets and liabilities.