IN BRIEF
Huber buys out Magniifin
As part of its planned growth in speciality chemicals , J . M . Huber has agreed to acquire the 50 % of Magnifin that it did not already own from RHI Magnesita . This should close in 2H . Originally part of the Martinswerk operation of Albemarle , Magnifin makes magnesium hydroxide products for use in flame retardants at a site in Germany .
New deal for Hikal
Indian API firm Hikal has formed a ten-year contract with an unnamed global pharmaceutical company to develop and supply a portfolio of niche APIs . Both parties will invest in a multi-purpose manufacturing plant at Panoli in Gujarat . Hikal added that the deal brings it into a niche area of chemistry and “ further strengthens its Animal Health vertical ”.
Natural allies
Lubrizol Life Science Beauty is partnering with Canadian firm Advonex , which produces plantbased hydrocarbons to replace petrochemical-based silicone , petrolatum and mineral oil with in personal care applications . These are also said to replicate the sensory experience silicone provides in skin care , hair care and skin cleansing products .
UK buy for Element
US-based speciality chemicals company Element Solutions has acquired H . K . Wentworth ( HKW ) for $ 60 million . Based at Ashby-de-la- Zouch , UK , HKW makes formulated chemical products for electronics , including thermal management materials , conformal coatings , encapsulation resins , electronic cleaning solutions and general maintenance products , with facilities in the UK , India and China . It had sales of about $ 44 million in 2020 .
Croda plans strategic review of chemicals
Croda International is to conduct a strategic review of its Performance Technologies and Industrial Chemicals ( PTIC ) businesses during 2021 , to decide on the best ownership structure going forward . Full or partial divestment and a spin-off are all options , the company said . The review will focus on the businesses and activities within PTIC that do not directly support the consumer care and life sciences sectors . These now account for over 80 % of Croda ’ s profits and are enjoying faster growth . The company is already prioritising investment in these areas . PTIC is focused on the circular plastic economy , electric vehicles and other renewable technologies . Separately , Croda ’ s recently acquired subsidiary in Spain , Iberchem , has agreed to acquire French fragrance house Parfex . Based at Grasse and employing 75 , Parfex makes fragrances for personal care and fine perfumery . It will retain its independent identity and structure , while also drawing on Croda and Iberchem ’ s technical expertise , financial support and sales network . Known for its sustainability focus , Croda has just come first in the Most Sustainable International Company rankings for companies headquartered outside the US . This was carried out by responsible investment management firm Calvert Research & Management , and analysed more than 230 key performance indicators of environmental , social and governance performance . Croda has also joined the Together for Sustainability initiative for sustainable chemical supply chains and received Platinum status from Ecovadis . This places it in the top 1 % of all companies in chemicals sector and in all the 75,000 companies assessed in 200 industries , with advanced corporate social responsibility practices in three of the four categories of Environment , Labour & Human Rights , Ethics and Sustainable Procurement . Also achieving Platinum Status this year was UK chemicals firm Thomas Swan & Co .
Ascensus buys Strem
Ascensus has acquired Strem Chemicals , bringing together two major suppliers of catalogue chemicals , mainly for life science , microelectronic and other speciality applications . Strem CEO Ephraim Honig will become chief science and innovation officer and will oversee the combined businesses ’ R & D function . Wind Point managing director Alex Washington said that the new firm “ will have capabilities to offer solutions ranging from lab to large-scale commercial production . Strem ’ s industry-leading technical competency is a meaningful addition to Ascensus ’ existing capabilities ,” he added . Based at Newburyport , Massachusetts , Strem makes and high purity chemicals including catalysts , ligands , organometallics , metal carbonyls , and CVD and ALD precursors . It also offers custom synthesis and cGMP manufacturing services for high potency APIs . Ascensus , which is owned by Wind Point Partners , brings together some former Dow Chemical and BASF speciality chemicals businesses . It claims to be the world leader in borohydride , borane and speciality alcoholates , which it manufactures at two sites in the US .
12 SPECIALITY CHEMICALS MAGAZINE ESTABLISHED 1981