JAN / FEB 2023
Kao , Firmenich lead in carbon disclosure
Non-profit organisation CDP ( formerly the Carbon Disclosure Project ) has issued its rankings for 2022 . These rate about 15,000 companies in multiple industries from among 18,700 who submitted data about their emissions on a scale from A to D- in three categories . In all , 283 received an A for Climate Change , 25 for Forests and 103 for Water Security .
Among many chemical industry and related companies rated , Swissbased flavours and fragances giant Firmenich and Japan ’ s Kao Corporation , a manufacturer of personal care , household and cosmetics products , scored A in all three categories . Only 12 companies achieved this , including Beierdsorf , Danone , Lenzing and L ’ Oréal in adjacent sectors .
Firmenich secured its fifth consecutive triple A , one of only two companies to have done this . Meanwhile , Kao received an A grade for the fourth time in Climate Change and the third in the other two categories . Other chemical and related companies to score highly included :
• BASF : A for Water Security and A- in the other two categories
• Sumitomo Chemical , Givaudan , DSM & PTT Global Chemical : A for Climate Change and Water Security
• Symrise : A for Forests and Water Security
• Lanxess & Novozymes : A for Climate Change
• Solvay : A- for Climate Change
CDP collects information from major companies about their environmental efforts on behalf of over 680 institutional investors with over $ 130 trillion in assets and more than 280 major buyers with $ 6.4 trillion in purchasing power . It is widely seen as the gold standard of corporate environmental transparency and other ratings agencies also use its data .
Danish enzyme makers to merge
Novozymes and Chr . Hansen have agreed to merge in what will be the largest ever such move between two Danish firms . The combined entity would have sales of € 3.5 billion / year . Revenue synergies upwards of over € 200 million and 6-8 %/ year growth to 2025 are expected .
Both firms are mainly active in producing enzymes and microbials , though with different emphases . Novozymes ’ largest end use markets are household products , food and beverages , and biofuels , while Chr . Hansen is more active in the food sector .
Novozymes and Chr . Hansen shareholders will own 44 % and 34 % respectively of the company , while Novo Holdings , the largest single shareholder in both , will have the remaining 22 %. Novo Holdings has already supported the move , saying that the two were a “ perfect match ”.
The transaction should be completed in Q4 2023 , subject to agreement by both sets of shareholders at AGMs in 1H . Following that , Chr . Hansen will be formally dissolved . Current Novozymes CEO Ester Baiget will head the combined company .
IN BRIEF
Evonik sells TAA derivatives Evonik has sold the TAA derivatives business from its Specialty Additives division , including sites at Marl , Germany and Liaoyang , China , to Italian firm Sabo . The company said that it is “ taking the next step in focusing its portfolio on speciality chemicals ”, by divesting a business that no longer fits in . TAA derivatives are essential precursors to light stabilisers .
Green API project Granules India and Greenko ZeroC have formed a strategic partnership to promote ‘ integrated green pharmaceutical zones ’. The first part will be a € 225 million , 40-hectare greenfield facility at Kakinada , Andhra Pradesh , for large-scale manufacturing of key starting materials , intermediates , APIs and fermentationbased products , using carbon-free energy supplied by Greenko ZeroC .
Merck completes M buy Merck KGaA has closed the acquisition of M Chemicals , the company recently incorporated by Mecaro to operate its chemical business . This will bring Merck around 100 new employees , plus advanced production and R & D facilities in Korea . The company said that the newly acquired operation is “ expected to complement a key segment of Merck ’ s Semiconductor Solutions portfolio ”.
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