NEWS
Lubrizol in Asian advances
Lubrizol has opened a new Global Capability Centre ( GCC ) in Pune , India , as “ a strategic hub to accelerate its growth in the region and enable closer collaboration for its customers and employees ”. It has also signed a Memorandum of Understanding to renew its strategic partnership with Proya Cosmetics in China .
The WELL- and LEED Gold-certified GCC will house over 200 employees within a year , representing functions including engineering , supply chain , technology , finance , procurement , legal and HR , with the potential to add 100 more . Features include customer experience centre showcasing science and live plant installations to emphasize Lubrizol ’ s commitment to sustainability .
Lubrizol has worked for 20 years with Proya , which makes skincare , make-up , and body and hair products . “ In combination with Lubrizol ’ s strong expertise in formulation design , as well as focus on technology and application , the expanded strategic agreement is expected to bring mutual benefits to both organisations ,” Lubrizol said .
EuroAPI suspends Italian site
EuroAPI has suspended all API production at its site in Brindisi , Italy , until further notice . This followed an internal audit in which “ quality control deficiencies due to potential local misconduct ” were identified . These are being further investigated .
The relevant health authorities have been informed . The company added that it has initiated a forensic audit and will inform its customers . The site produces 11 APIs and intermediates , mostly anti-infectives , including spiramycin , rifaximin , rifampicin and teicoplanin . In 2023 , its sales were € 63 million , of which 43 % related to EuroAPI ’ s former parent , Sanofi .
The value of non-current assets at Brindisi was fully impaired in the 2023 consolidated accounts . This situation is expected to impact the group ' s operational and financial performance and consequently , the full-year 2024 guidance is suspended . A revised full-year 2024 outlook will be provided by the end of Q2 .
IN BRIEF
Azelis acquires MDK Azelis has agreed to acquire Marga Dwi Kencana ( MDK ), one of the major distributors to the personal care market in Indonesia , in a deal expected to close within Q2 . Based in Greater Jakarta , MDK employs over 30 staff and runs a technical centre . Azelis said that MDK complements its own lateral value chain , including via a foothold in the halal cosmetics sector .
Diketenes growth Jubilant Ingrevia has commissioned a new 2,000 tonnes / year facility for diketene derivatives at Gajraula in India ’ s Uttar Pradesh state . The company supplies these to the pharmaceuticals , agrochemicals and other industries , including in the US and the EU . This and early efforts to get customer product approvals are expected to account for much of the capacity utilisation in the coming months .
KCC takes over Momentive South Korean paint and chemicals firm KCC has agreed to acquire the minority stake of SJL Partners in Momentive Performance Materials and assume full ownership . This is subject to customary closing conditions and no price has been disclosed . Based in New York state , Momentive is a major supplier of silicone and speciality products for applications including personal care .
BAL buys Sudarshan Indian agrochemicals firm Best Agrolife ( BAL ) has acquired its compatriot Sudarshan Farm Chemicals in a cash deal with an estimated enterprise value of $ 16.7 million . The company said that it expects “ significant synergies ”, capitalising on Sudarshan ’ s R & D capabilities , IP portfolio and backintegrated technical manufacturing expertise . It has named Sanjeev Kharbanda to the new role of chief business officer .
MAY / JUN 2024 SPECCHEMONLINE . COM
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