Speciality Chemicals Magazine JUL / AUG 2021 | Page 8

NEWS
Suit settled
Orion and Evonik have settled arbitration proceedings that began in 2019 , concerning indemnity claims about capital expenditures and costs to remedy past violations of the US Clean Air Act by the former Evonik carbon black businesses that are now owned by Orion . Evonik is to make a one-time cash payment of € 66.55 million and terminate all counterclaims .
Biochemicals deal
Versalis and fellow Italian firm Saipem will jointly promote the former ’ s Proesa technology internationally , the former managing licence right and engineering , the latter the development of production plants . Proesa is used to produce bioethanol and chemicals via the hydrolysis and fermentation of lignocellulosic biomass from agricultural waste , wood chips and energy crops .
Indian firms merge
Indian speciality chemicals firm Rossari Biotech has acquired 65 % of its compatriot Unitop Chemicals and will also take the rest over the next two years , for a total of € 47.5 million . Unitop is active in speciality chemicals , surfactants , and emulsifiers , with sales of € 31.6 million in fiscal 2020 . Rossari said that combining them “ brings synergies and complementary dimensions ”
2-EHA investment
Perstorp will “ substantially ” expand capacity at its existing plants for one of its flagship products , 2-ethylhexanoic acid ( 2-EHA ), from 2022 , in response to increasing demand . Implementation has already started , the firm said . 2-EHA is mainly used in esters for PVB film plasticisers and synthetic lubricants , but also in pharmaceuticals and other applications .

Pigments exit for Clariant

Clariant has agreed to sell 80 % of its Pigments business to a consortium of German pigments specialist Heubach Group and private investment firm SK Capital Partners . It will now focus on its three core ‘ business areas ’ of Care Chemicals , Catalysis and Natural Resources , although it retains a 20 % stake in the holding company for Pigments . The divestment should close in 1H 2022 . CEO Conrad Keijzer described it as a final step in the divestment programme and portfolio repositioning announced in July 2018 . The company had earlier divested the Healthcare Packaging and Masterbatches businesses . The deal gives Pigments , which employs over 3,000 , an enterprise value of € 735-780 million , depending on an earn-out payment contingent on its 2021 financial performance , and represents a multiple of 10.7-11.4 x stand-alone adjusted 12-month EBITDA . It does not include the share of the Pigments business ’ s participation in Infraserv Höchst , which manages the site at Frankfurt-Höchst .
Selling Pigments completes Clariant ’ s divestment programme

AlzChem completes nitrile expansion at German site

AlzChem , the only supplier of speciality nitriles outside China , has completed a € 12 million expansion that took 15 months and will increase capacity at its Trostberg site in Germany by 50 %. This is particularly targeted at the pharmaceutical and agrochemical markets and is expected to lead to additional sales of € 10- 20 million / year , depending on the product mix . CEO Andreas Niedermaier commented that business has been very strong since AlzChem commissioned a plant for highly pure and corrosive dichloronitriles in 2019 , in part because many pharmaceutical manufacturers “ are aligning their supply chains to be more European and more secure ”. Applications here include starting materials for cardiovascular and HIV treatments . Nitriles are also used in biocides , environmentally friendly pigments and UV absorbers in sunscreens , which are also growing . “ At the same time , from our point of view , not all possible applications have been tapped by any means . We will see even more interesting areas of application and innovations here in the future ,” Niedermaier said .
8 SPECIALITY CHEMICALS MAGAZINE ESTABLISHED 1981