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ICL borrows to fund sustainability

ICL has concluded a five-year €250 million ‘sustainability-linked loan’ from syndicate of five global lenders at 0.8%/year interest. It is the first company in Israel to do so. This is part of its sustainability efforts and includes three performance targets.

ICL will seek to achieve a 4-5% reduction in direct and indirect Scope 1 and Scope 2 CO2 emissions resulting from global operations. Third party monitoring will begin in the 2021 fiscal year, in accordance with the accounting and reporting standards published by the GHG Protocol.

Libra boosts salt-free betaines

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.

Orion building second China plant

Orion Engineered Carbons has begun construction of its second plant in China for speciality and high-performance carbon black at Huaibei in Anhui province. This complements an existing plant in Qingdao, which opened in 1994, and another in South Korea.

The new plant is expected to be completed late next year and to begin operating in 2023. It will have 65,000-70,000 tonnes/year of capacity. Orion will equip the plant to convert its waste heat to steam for sale to the local industrial park.

Change of owner at Seqens?

Eurazeo has announced that it has entered into exclusive discussions to sell its stake in French-based CDMO Seqens to funds advised by SK Capital Partners and its existing French shareholders, Mérieux Equity Partners.

Seqens commented that SK Capital’s involvement could enhance its position in the production of APIs, pharmaceutical intermediates and speciality ingredients. SK has already owned API manufacturer Wavelength Pharmaceuticals since 2017.

Lanxess to acquire IFF’s microbial control business

Lanxess has signed a corresponding agreement to acquire the microbial control business of International Flavors & Fragrances (IFF) for $1.3 billion or 9.6x EBITA. The deal should be completed in Q2 2022, following a carve-out process and subject to regulatory approvals. This is the firm’s second largest ever buy, just ahead of the recently completed acquisition of Emerald Kalama.

Univar works with Solvay in Brazil

Univar Solutions has reached an agreement to serve as Solvay’s first distribution partner for the agrochemical market in Brazil. This covers agrochemical defensives, adjuvants and fertilisers. It is the first time Solvay has named a distributor for this market in the country.

Curia to expand US API capabilities

Curia has announced plans to invest about $35 million in order to expand commercial-scale API manufacturing capacity at its largest site in Rensselaer, New York, over the course of 18 months. This is the third significant announcement in the month since the former AMRI renamed itself.

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