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.
Clariant is to build its first Chinese production facility for Exolit OP range of aluminum diethyl-phosphinate flame retardants. This will supply the electrical and electronic equipment industries, in particular e-mobility, 5G communications technology and transportation in China and other Asian markets.
Distributor IMCD has agreed to acquire Polychem, a Vienna-based supplier of chemical raw materials and additives to speciality chemical manufacturers in Austria and Southeast Europe, notably in coatings and construction. Terms were not disclosed but it is known that Polychem had sales of about €25 million in 2020.
India-based CDMO Piramal Pharma has taken a 27.78% equity stake in Yapan Bio of Hyderabad, which provides process development, scale-up and cGMP manufacturing of vaccines and biologics/bio-therapeutics of all kinds, including recombinant and RNA/DNA vaccines, gene therapies and monoclonal antibodies.
Johnson Matthey (JM) has agreed to sell the majority of its Health business to Altaris Capital Partners, an investment firm focused exclusively on the healthcare industry, for £325 million enterprise value, or 9.8 x EBITDA in the 12 months to 30 September 2021. Completion is anticipated in mid-2022, subject to regulatory approvals.
Wacker Chemie has presented its new sustainable development goals (SDGs) at its latest online capital market day. These are based on the ‘Science-Based Targets’, in line with the goal of keeping the global rise in temperature below 1.5°C as per the UN ‘Race to Zero’, which Wacker has joined.
“We have spent the last few months scrutinising our product portfolio and production processes. Our goals take us to the limit of what we consider to be technically feasible and achievable,” said CEO Christian Hartel.
CDMO CordenPharma has acquired the finished drug product manufacturing business of Vifor Pharma Group, which is refocusing its manufacturing on nephrology and iron deficiency. This comprises sites at Fribourg and Ettingen in Switzerland, and Lisbon, Portugal. Terms were not disclosed. The deal is expected to close in Q1 2022.
