Swiss-based Clariant Corp. Invests $65 Million To Establish Manufacturing Facility in Louisville, Kentucky
Area Development Online News Desk (08/23/2013)
Clariant Corp., a wholly owned subsidiary of Switzerland-based Clariant International, will invest more than $65 million to expand operations of its Business Unit Catalysts in Louisville, Kentucky, adding a new manufacturing facility at the corner of 12th and Wilson Streets. The expansion will add 34 jobs.
The firm currently employs more than 380 people at three facilities in Louisville, where the company produces industrial catalysts used in the chemical and petrochemical industries. The firm signed long-term cooperation agreements with major polypropylene technology licensor Lummus Novolen Technology. The two companies will combine to ramp up research and development efforts to develop improved polypropylene catalyst and donor technologies. The new plant is expected to be operational in 2015.
“The strategic partnership with Lummus Novolen is a significant milestone for the catalyst business,” said Hariolf Kottmann, CEO of Clariant. “It strengthens our competitive position in a market with future perspectives and strong growth rates. This cooperation is another example for the successful implementation of Clariant’s strategy, which is focused on innovation, portfolio management and profitable growth.”
“Clariant has been extremely successful in Louisville and we’re excited to know the workforce in the Commonwealth has played a key role in that success,” said Gov. Steve Beshear. “Clariant is a world leader in specialty chemicals, and we’re always glad to see a company grow in Kentucky, in this case adding 34 new jobs and investing more than $65 million in a new plant.”
As an incentive to encourage the investment and job growth in Louisville, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $500,000 through the Kentucky Business Investment program.
KEDFA also approved Clariant for tax benefits up to $500,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
“Clariant has been a major employer and significant corporate citizen in Louisville’s Park Hill corridor for over 30 years,” said Craig Richard, president and CEO of Greater Louisville Inc. “We are so pleased to support them as they continue to reinvest and grow in this important part of town.”