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The Swiss Clariant closes its Moroccan subsidiary

A few months after completely closing its industrial activity in Morocco, the Swiss giant Clariant puts his hand in the pocket to clear the accounts of its Moroccan subsidiary heavily deficit.

The chemist based in Muttenz near Basel, has just injected some 60.4 million dirhams in Clariant Morocco to clean up its liabilities weighted by the losses incurred in recent years and have exceeded the 85 million dirhams mark.

It must be said that as unexpected as it is (since intervening barely four years after the inauguration of an extension of the production capacities!), The shutdown in 2018 of the line of production of polymers and mixtures chemicals for the mining industry punctuated a structural deficit for lack of profitability at the Moroccan subsidiary, while causing significant losses of liquidation activity.

According to the management of the group listed on the Zurich Stock Exchange, this partial loss of activity has not disrupted the course of other operations carried out by Clariant Morocco, which has been transformed into a purely commercial structure and which also provides marketing support and customer services on behalf of other group subsidiaries.

Recall that Clariant Morocco exists since 1961, when the Swiss chemist Sandoz made its first implantation in Africa. In 1996, the global rapprochement between the latter and another Swiss group, in this case Ciba-Geigy and Sandoz, gave birth to Clariant and, at the same time, to Clariant Morocco.

Today, the Clariant group has a stock market of around 6.9 billion Swiss francs (66 billion dirhams) in capitalization and claims a consolidated turnover of 2018 almost equivalent to a net profit of 356 million Swiss francs (3,4 billion dirhams). Its workforce totals nearly 18,000 employees in some 50 countries around the world.

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