Speciality Chemicals Magazine SEPT / OCT 2022 | Page 10

NEWS
IN BRIEF
Rice husk deal Dow has formed a partnership with BSB Nanotechnology , which makes speciality silica from rice husk . Dow uses this in its EcoSmooth brand of cosmetic power , where it said to deliver “ optical benefits and a unique sensorial experience for consumers in skin care , hair care and colour cosmetic applications ”. Further applications are envisaged in other sectors .
Hallstar buys ester site Speciality chemicals firm Hallstar is to acquire Lanxess ’ s ester manufacturing facility at Greensboro , North Carolina , in a deal expected to close in Q4 . This includes certain product lines and site personnel . CEO John Paro said that it “ complements Hallstar ’ s position as a leader in the design , synthesis and manufacturing of specialty ester chemistry ”, while boosting customers ’ security of supply .
Airedale plans investment The Airedale Group is implementing £ 2 million in investment projects , including plants and acquisitions , as part of its new ten-year growth plan . Action is “ already underway aimed at creating sustainable growth and smarter systems , while maintaining the business ’ core values which have led to its success over the last half century ”, the company said .
Grace to expand South Haven W . R . Grace & Co . has announced plans to expand its CDMO facility in South Haven , Michigan , by January 2024 to “ support continued growth of its small molecule drug production ”. It will add an 18 m 3 multi-purpose glass-lined and stainless steel reactor train to two existing trains of the same size , as well as a Hastelloy centrifuge to facilitate product isolation .

Betaine exit for Evonik

Evonik has agreed to sell its US betaine business in Hopewell , Virginia , to Illinois-based speciality chemicals company Kensing . The deal is expected to close in Q3 . This follows the sale of the firm ’ s UK betaines site at Milton Keynes and the closure of another at Granollers , Spain , both in 2020 . Evonik will , however , continue its betaine businesses in Europe , Asia and Latin America . It will also retain the rest of the Hopewell facility , which produces additives for polyurethane foam manufacture , plus agricultural and industrial applications . Betaines are amphoteric surfactants , which are used as ingredients in the formulation of shampoos , hair conditioners and skin care products , plus other consumer applications . They are no longer core to Evonik ’ s Care Solutions business line , which is to be transformed into “ a system solutions provider for the personal care and cleaning industries ”. This term refers to “ multi-component offerings across products , technologies and services that are tailored to a unique customer need and often have proven sustainability benefits ”. They currently account for 20 % of the Nutrition & Care division ’ s business but Evonik aims to reach 50 % by 2030 . Kensing , which is owned by One Rock Capital Partners , makes plantbased vitamin E , phytosterols , phytosterol and speciality esters , and highpurity anionic surfactants . Shortly before this , Kensing had also acquired Vitae Naturals , a Spanish producer of plant sterol esters and non-GMO natural vitamin E derivatives for the food , nutrition and skin care markets .

Labcorp to split in two

Labcorp has authorised a spin-off of its clinical development business to shareholders through a tax-free transaction . This should be completed in 2H 2023 . Labcorp is expected to continue being publicly traded on the New York Stock Exchange and the clinical development business should also be publicly listed . This will lead to the creation of two independent companies with “ distinct strategic priorities , customer needs and value creation ”, the company said :
• Labcorp , a global laboratory business comprising the routine and esoteric labs , central labs and early development research labs , which CEO Adam Schechter will continue to lead
• The clinical development business , whose name will be announced later , which will be a CRO providing Phase I-IV clinical trial management , market access and technology services to pharmaceutical and biotechnology companies The company said that the spin-off will give both companies greater strategic flexibility and operational focus , focused capital structures and capital allocation strategies and a more targeted investment opportunity for different investor bases .
10 SPECIALITY CHEMICALS MAGAZINE ESTABLISHED 1981