Clariant adjusts full-year guidance

09-07-2011: Clariant adjusted its guidance for the full-year 2011 due to unfavorable foreign exchange rate developments and a softening of the global economy in the current business year. The mid-term EBITDA margin target for 2015 was confirmed.

The first two months of the second half-year have been marked by a continuing unfavorable development of foreign exchange rates and increasingly difficult economic conditions, negatively impacting Clariant's operating business. While overall demand remained robust, a softening has become evident in some regions and end markets. In view of the developments in the last few weeks, the initial assumptions on exchange rates as well as on economic growth rates for 2011 are no longer valid. Therefore, the previous full-year 2011 guidance needs to be adapted to the changed conditions. Sales are expected at CHF 7.0 - 7.2 bn while the EBITDA margin before exceptional items should reach between 12.8% and 13.2%, still above the 12.7% reported in the last business year.

CEO Hariolf Kottmann commented: "We confirm our mid-term target of an EBITDA before exceptionals of above 17% for 2015. This is based on an improvement in our competitive position resulting from the global asset network optimization program, further savings as well as a successful integration of Süd-Chemie, which will substantially contribute to the group's performance in the coming years. The solid base and the sound financial position achieved in the last two years allow us to consequently implement our profitable growth strategy."

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Researchers show heparan sulfate adjusts functions of growth factor proteins

When the human genome project produced a map of human genes, the number of genes in humans turned out to be relatively small, approximately the same number as in primitive nematode worms. The difference in complexity between human and primitive organisms results from the ways in which the functions of genes are elaborated, rather from just the number of genes. Boston University School of Medicine (BUSM) researchers are showing how heparan sulfate, a carbohydrate that is expressed on the surface of all human cells, adjusts the functions of growth factor proteins. These findings currently appear on-line in the Journal of Biological Chemistry.

Each cell responds to signals in the form of growth factor proteins that bind to cell surfaces. "The heparan sulfate on each cell helps the growth factor proteins connect with a growth factor receptor that is necessary for the signaling to occur," explained Joseph Zaia, PhD, an associate professor of Biochemistry at BUSM. Cells can change the way they respond to growth factors by altering the structure of the heparan sulfate on their surfaces.

Under the direction of Zaia, researchers from BUSM's department of Biochemistry have produced a new picture of the structure of the heparan sulfate and how it interacts with growth factor proteins. These new results demonstrate that growth factors home into regions of the heparan sulfate chains known as non-reducing ends. "Such binding of growth factors to the non-reducing ends of heparan sulfate chains may be a general means whereby normal cell growth is maintained. Conversely, a breakdown in such signaling may contribute to abnormal cell growth," he added.

Provided by Boston University Medical Center