NEWS
Syensqo exits oil and gas
Syensqo has entered into an agreement to divest its Oil & Gas Business Unit to SNF Group, a French speciality chemical company that is active in the field. The enterprise value of € 135 million represents a 7x EBITDA multiple. Oil & Gas had net sales of about € 400 million in 2024,6 % of Syensqo’ s total, and employs some 600 people.
CEO Dr Ilham Kadri described the move as advancing Syensqo’ s“ pure play speciality strategy” while SNF CEO Pascal Remy added that the acquired business has a complementary products portfolio and expertise in R & D and market knowledge, making it“ an excellent fit for our company”. The deal should close in Q1 2026, subject to customary closing conditions, consultation with employee representatives and regulatory approval.
Syensqo has also announced that it will reopen the synthetic vanillin production unit( pictured) in Saint-Fons, France, by the end of 2025. The company said that this is coming in response to changing market conditions and demand from the European food, flavour and fragrance sectors. About 25 new jobs will be created.
Syensqo originally mothballed the plant in May 2024 because of inflation, declining demand and intensified competition, especially from Asian importers. However, recent developments, including the EU imposing 131 % anti-dumping duties and minimum 232 % additional duties in the US“ should significantly reshape the competitive landscape, supporting regional producers”.
Saint-Fons, which continued to produce natural vanillin and hydroquinone throughout, will complement production in Baton Rouge, Louisiana, and Zhenjiang, China, ensuring greater supply reliability in all three main regions. Syensqo added that this does not impact its intention to divest the Aroma Performance business.
Venator site sold in administration
As part of its restructuring, Venator Materials has agreed to sell its TiO 2 site) at Greatham, UK, to LB Group a Chinese manufacturer of TiO 2 pigments and titanium sponge, subject to regulatory approvals and customary closing conditions. This is one of three UK sites with an uncertain future in view of rising costs and fierce competition.
Greatham is now transitioning into an idle state until the sale is
completed. However, Venator said, LB Group“ remains committed to acquiring the site with the intention of restarting operations in the future”.
Alvarez & Marsal, who were appointed joint administrators of Venator Materials UK on 22 October, subsequently revealed that 273 employees were made redundant immediately due to the company’ s financial position. The remaining 232 have been retained to assist in the administration process.
“ Given the prolonged downturn in the TiO 2 industry and the financial pressures we face, administration is the most responsible path forward,” said Karen Askwith, managing director at Venator.“ It allows us to preserve value and create the conditions necessary for a potential future recovery under new ownership.”
NOV / DEC 2025 SPECCHEMONLINE. COM
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