Clariant announces $240M financial impairment at Romanian plant

December 12, 2022 |

In Romania, Clariant announced a financial impairment of its sunliquid plant in Podari, Romania, amounting to approximately CHF 225 million.

As previously reported, the sunliquid plant began production in the second quarter of 2022, though has not yet achieved the targeted yields and other operational parameters on an industrial scale. Clariant has thus completed a financial assessment of the plant as part of the annual impairment testing in accordance with International Financial Reporting Standards (IFRS). As a result of this analysis, Clariant has concluded that an impairment to the current asset value of the Podari plant of approximately CHF 225 million is appropriate based on the delayed ramp up and the current financial performance.

Clariant confirms the unique value of the sunliquid® technology and will continue its commercialization. Clariant aims to address the operational challenges by continuously adjusting production processes with the target of achieving commercial viability of the new technology.

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Category: Fuels

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