NEWS
Evonik realigns two business lines
Evonik has revealed that it is reorganising its Coating & Adhesive Resins and Health Care business lines “ to strengthen their growth prospects ”. Both will focus on and concentrate future investments in core businesses , with the remainder being sold incorporated into partnerships or in some cases discontinued .
Health Care will focus on lipids for mRNA and gene therapies , drug delivery systems and cell culture ingredients . Production of keto acids for pharmaceutical applications at Hanau
Opening ceremony at the new emollients plant will be discontinued at the end of 2025 , with 260 employees affected . Options are being evaluation for two more keto acid sites in France in China .
Meanwhile , Coating & Adhesive Resins will focus on liquid polybutadienes as additives for adhesives and sealants or tyres , and speciality acrylics for medical technology and packaging . The € 100 million polyolefins business will be transferred to the C 4 chain business and the polyester business for coating and adhesive applications will be sold , Evonik confirmed .
Earlier Evonik officially opened its new “ double-digit million-euro ” production plant for cosmetic emollients at Steinau , Germany . This will use an enzymatic esterification process from the company ’ s biotechnology platform to convert vegetable oils .
Emollients typically make up 10-25 % of cosmetic emulsions but account for 70-80 % of a product ’ s climate footprint . Evonik claims that its process makes it possible to reduce a product ’ s climate footprint by more than 60 %. In addition , like all of its Care Solutions sites , Steinau uses only renewable energy .
Evonik has also completed the sale of its superabsorbents business unit to the International Chemical Investors Group and is now “ sounding out the market situation for a possible start of the sales process ” for the Performance Intermediates business line . Finally , it has completed the expansion of DLmethionine production at Singapore ’ s Jurong Island , bringing the total capacity to 340,000 tonnes / year .
Sudarshan to buy Heubach
India ’ s Sudarshan Chemical Industries ( SCIL ) has entered into a definitive agreement to acquire the Heubach Group in a move that it said would “ create a global pigment company , combining SCIL ’ s operations and expertise with Heubach ’ s technological capabilities ”. Terms were not disclosed .
The deal is expected to close in four months , subject to customary closing conditions , including approvals from regulators and SCIL shareholders . The combined firm will have 19 sites and a strong presence in major markets including Europe and the Americas , as well as SCIL ’ s two major sites in India that make performance colorants , organic , inorganic and pearlescent pigments and dispersions , and azo and effect pigments .
Frankfurt-based Heubach had over € 1 billion in sales in the 2021 and 2022 financial years but has faced financial challenges since then , due to rising costs , inventory issues and high interest rates . SCIL said that the acquisition “ will address these challenges with a clear turnaround plan ”.
SCIL added that the centre of the integration process will be a “ culture of agility and customer focus ”. The strategic and financial benefits are also said to include a wide product portfolio across segments and applications , and a global supply chain network combined with SCIL ’ s R & D and innovation capabilities .
The merger will create a global player in pigments
SEP / OCT 2024 SPECCHEMONLINE . COM
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