IN BRIEF
New areas for Olon Following the acquisition of HuvePharma Italia , Olon has announced that it is expanding into the antispasmodic and antimalarial segments . Huvepharma ’ s site in Garessio , Italy , has already used photo-oxidation technology and nanoparticle manufacturing to produce the antimalarial semisynthetic artemisinin , a market that has been highly volatile in pricing since the mid-2000s .
ICC joins SMC SMC Global has acquired International Chemicals ( ICC ) and will merge its own Oilfield business into ICC . Terms were not disclosed . ICC , which is now operating as a subsidiary of SMC Global , is based at a 3,200 m 2 site at San Angelo , Texas . This features a dedicated application and QC laboratory , a trucking fleet , manufacturing and 8,400 m 2 of nearby warehousing capabilities .
Nouryon adds space in India Nouryon has formally unveiled its new innovation centre in Mumbai for multiple end markets . Key capabilities include : powder formulations and seed coating formulations , with dedicated application machinery ; advanced applications for surfactants , chelating agents , fabric softener actives , hair styling polymers and starches ; and water-based paints for asphalt and construction applications .
Moeve it Spanish energy and chemicals company Cepsa has renamed itself Moeve . This is described as part of the Positive Motion strategy , under which the company is seeking to position itself as “ a leader in sustainable energy and mobility ” with most of its profits coming from sustainable activities by 2030 . The company is already decarbonising its operations through an € 8 billion investment strategy .
Symrise sets out its plans
At its latest capital markets day , held at its headquarters in Holzminden , Germany , Symrise presented its strategy and outlook to investors and analysts under the title ‘ Unleashing the full beauty of One Symrise ’. The occasion also marked the 150th anniversary of the launch of its predecessor and the first synthesis of vanillin , both in 1874 .
The company will continued to focus on its three strategic pillars of growth , efficiency and portfolio with an expanded focus on new priorities under the One Symrise strategy . These comprise optimised processes , and sustainability and digitalisation . A global transformation office has been set up to guide and support the execution of the strategic roadmap .
“ Future growth will be driven by a holistic , company-wide ecosystem for innovation ,” Symrise stated . It will “ accelerate cosmetic ingredients and health solutions ” under the concept of ‘ One Care ’, while increasing its focus on efficiency across the value chain from procurement to delivery “ through integrated processes at corporate level ”.
The company has slightly upgraded its organic sales growth forecast for 2024 to over 7 %, because of inflation , and the EBITDA margin is now expected to be above 20 %. The 2025 targets remain in place : organic sales growth of 5-7 %/ year , with an EBITDA margin of 20-23 %. Similar long-term targets remain in place to 2028 .
Nufarm works with Unilever
Crop protection firm Nufarm has formed a multi-year strategic partnership with Unilever to promote biomass oil in the FMCG market and thus reduce the need for fossilbased ingredients . This will focus on scaling the technology Nufarm has already developed and commercialised for energy cane , a high biomass sugar cane , and forage sorghum .
Energy cane is said to have such sustainability benefits as climate stress tolerance , drought resistance , more efficient protection of soil against erosion and harvesting benefits for farmers and the environment . The aim is to replicate and build upon these traits in the new crop , to support Unilever ’ s climate ambitions .
Nufarm added that the energy cane crop will also continue to produce sugar , which could be used in other biotechnological processes to generate speciality ingredients such as fragrances , enzymes and cleaning ingredients in Unilever ’ s portfolio . Other parts could go into plant fibre for paper and board and renewable energy production .
14 SPECIALITY CHEMICALS MAGAZINE ESTABLISHED 1981