Haltermann Carless has initiated a transformation programme led by CEO Peter Friesenhahn, who joined the company at the beginning of 2024. He spoke to CHEManager about the measures and goals of this transformation and his plans for the company.
The following interview has been published in the October edition 2025 of CHEManager magazine:
Photo: Peter Friesenhahn, CEO Haltermann Carless (copyright: Haltermann Carless)
Following its acquisition by the International Chemical Investors Group (ICIG) in 2023, the former HCS Group now operates under its long-established name Haltermann Carless. The supplier of hydrocarbon-based specialty fuels and solvents, which forms a new strategic platform within ICIG, has initiated a transformation programme under CEO Peter Friesenhahn, who has been in this role since the beginning of 2024. He spoke with Michael Reubold, CHEManager, about the measures and goals of this transformation and his plans for the company.
Mr Friesenhahn, you are leading one of the oldest chemical companies in the world. How are you dealing with this legacy at a time when the chemical industry is undergoing the most profound transformation in its history?
Peter Friesenhahn: For me personally, this legacy is both an obligation and an inspiration. Since 1859, our company has been characterised by a pioneering spirit and the courage to break new ground. This attitude is deeply rooted in our DNA – and we are now continuing in this vein.
When I took over responsibility in January 2024 – shortly after the company was sold to ICIG – it was clear to me that we were at a point where we were writing the next chapter in our company's history – together with my team, which brings substance, experience and a wealth of ideas to the table. However, we were also coming out of a period that was characterised by sales processes – and thus by superficial optimisation of the company with the corresponding consequences. And, viewed from the outside, a period of uncertainty and weakening market demand, as you already indicated in your question.
You speak of substance – what does that mean to you?
Friesenhahn: For me, it lies in our culture. Throughout our more than 160-year company history, we have weathered crises and driven innovation – the best-known example being Petrol, still today a synonym for fuel – and we have shaped many generations along the way. Many of our employees have been with us for decades and possess tremendous know-how about our products, customer demands, and the market. At the same time, we have attracted great new talents. As a medium-sized company operating internationally, we have to compete with large global players. Our success in doing so is primarily thanks to our uncompromising customer focus.
But tradition alone is not a guarantee for the continued existence of a company; rather, as you already mentioned, a willingness to change is crucial.
Friesenhahn: That's right. What we need now is the courage to change, leeway for new ideas, and a culture that doesn't just say, ‘We've always done it this way,’ but looks ahead in a solution-oriented manner and asks, ‘What if?’ or ‘How can we achieve our goals?’
Where did the impetus for change come from?
Friesenhahn: Haltermann Carless, then still HCS Group, has been part of ICIG since the end of 2023. With the new owner, we have a partner at our side who has a strong entrepreneurial perspective in the chemical industry, a long-term mindset and believes in the potential of our company. This is not a short-term return story, but an investment in the future. The management team and I see ourselves as catalysts and strategic drivers for the sustainable development of our company.
Our RACE transformation programme is our master plan – a strategy that calls for both rigorous consolidation and targeted further development of our business. In concrete terms, this means simplifying processes, reducing complexity and refining our portfolio strategy. We have reached a point where it is no longer enough to simply cut costs or wait for the market to recover. We must be resilient on our own.
Where are you today with your RACE transformation?
Friesenhahn: We have initiated decisive steps in our strategic realignment: Firstly, we are exiting two low-margin commodity businesses: the Gas Condensate business, which will be discontinued with the closure of a production unit in Harwich, UK, and the Oxo business, whose production site in Manvel, Texas, USA, will be completely shut down. Secondly, we are closing our administrative office in the UK and relocate the functions concerned to other sites – a step towards streamlining structures, reducing costs and increasing efficiency. And thirdly, we are realigning our sales organisation, reducing the number of business units from four to three and assigning them to the respective core production sites. At the same time, sales expertise will be strengthened in a targeted manner and business development will be consistently focused on high-margin, sustainable applications.
How will this change your market approach?
Friesenhahn: We will focus on our strengths and assets and systematically expand them in niches that we have not yet occupied. Take the topic of fuels, for example. Electrification in passenger cars is irreversible, but there will still be areas in the future where fuels will continue to play a role due to their energy density. We see this as a great opportunity to contribute our expertise.
Aren't fuels at odds with sustainability these days?
Friesenhahn: No, hydrocarbons will continue to play a central role in the chemical industry in the future. The crucial question is whether they must be fossil-based or whether they can be made from renewables. We can already offer our customers both in many areas.
For us, sustainability is still a driver of innovation and thus a driver of growth. Take motorsport as an example. The international governing body FIA wants to reduce CO2 emissions by 50% by 2030. We already offer a racing fuel that is up to 100% sustainable, thereby supporting the global motorsport association.
The processing and recycling of transformer oil also conserves valuable resources and extends the service life of transformers. We see great potential here for our Electrical Oil Services business unit.
Another example is GTL – Gas-to-Liquids. This allows us to move away from crude oil and towards gas as a feedstock for our products. Although this is not yet fully sustainable, it is a feasible intermediate step.
I am also a realist: this change requires technology, framework conditions and economic viability. Nevertheless, it is our goal to gradually convert fossil-based hydrocarbon applications to innovative, renewable raw materials. As mentioned, we are and will remain pioneers in hydrocarbons.
What does pioneering spirit mean to you today?
Friesenhahn: For me, pioneering spirit means trying new things, providing impetus and initiating something that has never existed before. This often starts small, but can have a major and lasting impact.
For me, it also involves courage and toughness. The courage to explore new avenues, develop new solutions and inspire others to do the same. But being a pioneer also means seeing things through – even when it gets uncomfortable. That means making unpopular decisions and speaking plainly. For me, that's part of clear and responsible leadership. This combination of curiosity, creativity and steadfastness is what I consider to be true pioneering spirit.
How are employees responding to all these changes?
Friesenhahn: Of course, there is scepticism. That's perfectly normal – change is exhausting. The important thing now is to get the whole team on board despite all the changes and uncertainties and to communicate closely with them along the way. Employees need to understand that we are leading the company through the crisis, not into it. This calls for open communication and clear leadership. Not only the Executive Board, but also our senior managers have a crucial role to play in this.
We have held kick-off events at all our locations and trained ‘change navigators’. Our leaders also have an important role to play in the transformation. That is why the focus this year is on leadership.
In addition – and this was a visible sign of change and a new beginning both internally and externally – we have a new Haltermann Carless logo and a new, modern brand design with our brand claim ‘Pioneers in Hydrocarbons’ and our customer promise ‘We take you further.’
What excites me is that as soon as we start listening and making successes visible, something begins to emerge. When people experience that they can make a difference, that energy returns. Then chemistry emerges in the best sense of the word.
What is your vision for the company over the next five years?
Friesenhahn: An agile, networked company that is proud of its tradition but also shapes the future. We want to grow in our core markets, tap into new segments and live a corporate culture that rewards courage, responsibility and creativity.
What appeals to you about your job?
Friesenhahn: What fascinates me most about Haltermann Carless is our long history. Our founding fathers built something from nothing with courage and ingenuity. For example, with the development of Petrol, they made a significant contribution to the emerging automotive industry in the 19th century. Pioneering work at the time, today a proud chapter in our success story.
I may not be an expert on every chemical detail – but I am someone who can inspire, connect and encourage others. And that is more in demand today than ever before: getting people on board, shaping change, daring to try new things.
xxx
An shortened version was published in the October 2025 issue of CHEManager magazine in German language. The extended Germany version can also be read on the website: https://chemanager-online.com/de/themen/pioniere-aus-tradition Please note that the full article on the CHEManager website is only accessible after logging in or completing a one-time, free registration.
About Peter Friesenhahn
Peter Friesenhahn has been CEO of Haltermann Carless (formerly HCS Group) since 1 January 2024. Before assuming this position, he served in various management roles at Evonik for twelve years, most recently as head of the Silanes business line. Prior to his time at Evonik, Friesenhahn held various management positions at Bayer for 20 years, including several assignments abroad. He holds an MBA with a focus on strategy, marketing and finance.
About Haltermann Carless - Pioneers in hydrocarbons since 1859
Haltermann Carless is a leading international supplier of high-value hydrocarbon solutions in Mobility, Life Science, Industrial and Energy. The company develops tailor-made products using advanced technologies, exploring new feedstock sources, and collaborating with business partners, research institutes, and universities. The portfolio includes Performance Fuels, Solvents, Pentanes, Middle Distillates as well as Energy Products & Services.
As one of the oldest chemical companies in the world, Haltermann Carless continues its legacy with a global team of 500 employees across nine locations and production sites in Germany, France, the UK, and the USA. The commitment to sustainability and responsible business practices is recognised through multiple certifications, including the EcoVadis Gold award, ISCC EU and ISCC PLUS and the prestigious FIA Three-Star Environmental Accreditation.
More information: www.haltermann-carless.com
Your Media Contact
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