Croda has agreed to sell most of its Performance Technologies & Industrial Chemicals (PTIC) business to Cargill Velocity Holdings, a wholly owned subsidiary of Cargill in a €915 million deal should close in the summer of 2022, subject to regulatory approvals and consultation with employee representatives. The company had stated its intention to reviewing ownership options for PTIC in May 2021.
2M Group operation Surfachem has officially opened its new formulation laboratory within the 3M Buckley Innovation Centre within the University of Huddersfield, UK, where it has been active since 2014. Mottie Kessler, CEO and chairman of 2M, was among those present to showcase formulation demonstrations within the personal care and home care laboratories
Libra Speciality Chemicals of Irlam, UK, which makes and blends active ingredients for home and personal care, has invested £3.5 million in a new plant to manufacture the new low-salt betaines it has developed. This will also increases the site’s total betaine capacity by around two thirds and double the firm’s size.
Reed Exhibitions has announced that In-Cosmetics Global in Barcelona and In-Cosmetics Asia in Bangkok will not take place this year “due to the ongoing travel restrictions due to the pandemic”. They will instead revert to their usual slots next year, with the former taking place on 5-7 April 2022 in Paris, and the latter on 1-3 November 2022 in Bangkok.
Indorama Ventures has acquired Brazilian firm Oxiteno from the Ultra Group in a $1.3 billion that should close in Q1 2022, subject to regulatory approvals and other closing conditions. This will bring a significantly extended business in high-value surfactants within the Integrated Oxides & Derivatives (IOD) business, as well as other speciality chemicals.
Flush with funds from its IPO, Indian speciality chemicals manufacturer Rossari is to make its second acquisition of in as many months. Following on from the $57.7 million acquisition of Unitop Chemicals in June, it has agreed to acquire Tristar Intermediates in two tranches of 76% now and 24% in three years’ time. The total enterprise value of the transaction is $16 million. Tristar’s current management will stay on for at least three years.
Evonik has agreed to buy Infinitec Activos, which is based at Montornés del Vallès near Barcelona supplies delivery systems for cosmetic active ingredients, including its Cosmetic Drone proprietary technology and its new polylactic-co-glycolic acid-based delivery system. The natural-based raw material producer, Naturethic, is also part of the deal.