Clariant has agreed to acquire Lucas Meyer Cosmetics of Québec, Canada, a supplier of cosmetics and personal care ingredients from International Flavours & Fragrances. The $810 million, 16.3 x EBITDA deal is expected to close in Q1 2024, subject to regulatory approvals and customary closing conditions.
Private equity investor Advent International has completed the acquisition of 50.1% stake in Indian CDMO Suven Pharma for $5.95/share, as originally agreed in December 2022. This will shortly trigger an open offer for the remaining 26% not being retained by the founding Jasti family. The move follows approval by the Cabinet Committee on Economic Affairs in August.
Dow and Sasol both used this year’s SEPAWA Congress in Berlin on 25-27 October to launch surfactants that claim superior ecological profiles. In both cases, the products are based on collaboration with smaller, technology-based partners.
Dow developed EcoSense 2470 Surfactant with carbon recycling company LanzaTech Global, which recovers waste carbon then transforms into ethanol and on to surfactant ingredients. The company said that this is differentiated other biosurfactants and biobased surfactants in two ways: *
CEFIC joined other associations representing Europe’s clean technology industries and their key material suppliers to send a joint letter to European Commission (EC) President Ursula von der Leyen ahead of a European Council summit. This called for “urgent and comprehensive action from the EC and Member State governments to maximise the growth potential of the Green Deal and ensure a compelling business case for clean energy supply chains in Europe, from the raw material to the product”.
Hextar Global, a Malaysian agrochemical company, is acquiring Propel Chemicals (PCSB) for $3.5 million from Propel Global, Rancak Nikmat and Wiramas Baiduri, mainly in order to expand its speciality chemicals portfolio for oil and gas applications. The deal should be completed in Q4.
Croda International has broken ground for a low-carbon, multi-purpose production facility on a greenfield site in Guangzhou. This triples its manufacturing capacity for fragrances and establishes its fist production capability for beauty actives, mainly botanicals, in China. It is also part of the company’s plan to deliver fast growth in Asia.
BASF has started production in its €25 million excellence centre for superabsorbent polymers (SAPs) at its verbund site in Antwerp, Belgium, with €1.4 million in support from the Government of Flanders. This features a pilot plant equipped with advanced data collection and sensor technology to increase innovation capabilities in SAPs and accelerate scale-up from product development to production scale at the nearby commercial plant.
