NEWS
ICIG buys two more
International Chemical Investors Group ( ICIG ), the owner of WeylChem and many other European assets , has acquired two more operations . The acquisition of HCS Group in June followed on from that of Organica Feinchemie in May . Terms were not disclosed in either deal .
Based in Frankfurt and with seven sites employing about 500 in Germany , the UK , France and the US , HCS supplies hydrocarbon specialities and additives for applications in the transport , life science , general industrial and energy markets . It is probably best known for the Haltermann Carless , Electrical Oil Services and ETS Racing Fuels brands .
ICIG and the shareholders have signed definitive agreement for this transaction . It is expected to close in Q3 , subject to regulatory clearance and other customary closing conditions .
Organica , which is based at Bitterfeld-Wolfen , is now operating as WeylChem Organica following its integration into WeylChem . This has added about 150 people to the WeylChem workforce , taking the total to 1,500 , while sales will rise by over € 20 million / year to a total of around € 730 million / year
Organica specialises in flexible custom synthesis in quantities from 25 kg to 75 tonnes , is authorised to produce more than 70 reaction types and has customers in more than 30 countries . CBW , a subsidiary that is also part of the sale , will focus on contract manufacturing for WeylChem , potentially adding over 900 more tonnes / year of capacity .
ICIG has also completed the acquisition of Evonik ’ s site at Lülsdorf near Cologne and the associated cyanuric chloride business in Wesseling following the approvals process . The deal was originally announced in April . It plans to further expand the businesses as part of its chlorine chemicals and speciality chemicals interests .
Solvay reveals new names
Solvay has announced the names of the two companies that will emerge after its planned separation into ‘ essentials ’ and ‘ speciality ’ businesses . This process is on track to be completed in December 2023 , subject to customary conditions . Further updates will follow .
The ‘ essentials ’ business will continue under the name Solvay and will comprise the existing monotechnology businesses , including Soda Ash , Peroxides , Silica , Coatis and Special Chem . These had combined net sales of about € 5.6 billion in 2022 .
The specialities businesses will continue as Syensqo , a name that references Solvay itself , the founder Ernest Solvay and its scientific heritage . It will include the Specialty Polymers , Composites , Novecare , Aroma , Technology Solutions and Oil & Gas , with € 7.9 billion in sales last year , plus the four ‘ growth platforms ’ in batteries , green hydrogen , thermoplastic composites , and renewable materials and biotechnology
“ Syensqo will play a key role in the future of clean mobility , by making the next generation of EV batteries possible and by advancing green hydrogen and thermoplastic composites . It will bring about breakthroughs in bio-based solutions , natural ingredients , circular solutions and more ,” Solvay stated .
6 SPECIALITY CHEMICALS MAGAZINE ESTABLISHED 1981