NOV / DEC 2023
IN BRIEF
Croda breaks ground Croda International has broken ground for a low-carbon , multipurpose production facility on a greenfield site in Guangzhou , which will be commissioned in 2025 . This will triple its capacity for fragrances and establish its first production capability for beauty actives , mainly botanicals , in China . The new facility will also include application laboratories , R & D facilities and offices .
Clariant to buy Lucas Meyer
Clariant has agreed to acquire Lucas Meyer Cosmetics of Québec , Canada , a supplier of cosmetics and personal care ingredients , from International Flavours & Fragrances . The $ 810 million , 16.3 x EBITDA deal is expected to close in Q1 2024 , subject to regulatory approvals and customary closing conditions .
CEO Conrad Keijzer said that this would “ strengthen our position as a true speciality chemical company , our exposure towards consumer markets , and our footprint in North America , while supporting our goal to accelerate customer- and sustainability-driven innovation ”. In addition , combining their two portfolios will make Clariant “ a leader in the high value cosmetic ingredients space , one of the most attractive , profitable and fastest-growing speciality chemicals markets ”.
Lucas Meyer is claimed to have strong marketing and innovation capabilities , including global R & D and regional application centres , as well as an asset-light model and outsourced production that has helped to generate sales growth of about 10 %/ year . Clariant aims to boost Lucas Meyer ’ s sales from $ 100 million / year now to $ 180 million / year by 2028 as a result of “ the strong strategic fit and high complementarity of the businesses ”.
Separately , Clariant has officially opened its production facility for its Exolit brand of organophosphorus flame retardants in Daya Bay , Huizhou , in China ’ s Guangdong province . The first line , built at a cost of $ 66 million , is now supplying the e-mobility , electrical and electronic markets , while a second , $ 44 million line for construction uses should be onstream in 2024 .
First renewable 2-EH Perstorp has launched a new grade of 2-ethylhexanol ( 2-EH ) called 2-EH Pro 100 , which is available with 100 % renewable , traceable , mass-balanced carbon content . The company claims that , when including the biogenic CO 2 uptake absorbed by the renewable raw materials used , the product has a negative carbon cradle-togate footprint .
IPP takes idled site International Process Plants , a provider of pre-owned and new process plants and equipment , has acquired the idled Warwick Chemical site in Mostyn , Wales , from Lubrizol and will seek to redeploy the assets to its client facilities , while making the site and its basic infrastructure available for redevelopment . The site formerly produced stain removal ingredients for detergents .
NOV / DEC 2023 SPECCHEMONLINE . COM
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