Clariant (Muttenz, Switzerland) and Huntsman International LLC (The Woodlands, TX) have presented a shareholder update on their proposed merger. Huntsman also recently announced an initial public offering on the New York Stock Exchange for Venator, a subsidiary company that makes resins and curing agents.The IPO is being valued at $500-million. The merger is proceeding as intended, the companies stated, with continuing signs of strong progress toward the slated closing date, which is projected for December 2017 or January 2018. For the foreseeable future, both firms have agreed to a joint strategic direction in order to create short- and long-term value. This will be based in a focus on higher growth, as well as higher margin businesses. There will also be steps taken to ensure organic sales revenue growth of two percent annually at approximately 20 percent EBITDA margin, with synergies totaling to an excess of $400-million as well as $25-million in terms of a tax saving target. Complementary benefits, they state, will come as a result of the companies’ performance products, care chemicals and natural resources. In total, these represent roughly 35 percent of the combined sales for HuntsmanClariant, as well as a broad surfactants portfolio. Both companies have similar EBITDA margins at 17.2 percent, including synergies. There will be opportunities for growth, the partners say, including cross-selling and new product applications. HuntsmanClariant will be utilizing a wide number of its assets, while also moving into specialties and more differentiated applications. Both complementary assets and geography will provide expanded global reach. For both companies, the majority of future investments will be geared toward growth. As for other plans, formulation- and application-based segment niches will be expanded, as well as bespoke polyurethane systems, high-end composites and customer-oriented products.