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Clariant completes cosmetic buy

Clariant has completed the previously announced acquisition of Lucas Meyer Cosmetics, a German-based maker of cosmetics and personal care ingredients, from IFF. The deal is based on an enterprise value of $810 million, subject to customary net debt and working capital adjustments.

Sunliquid plant to close

Clariant has decided to close its Sunliquid bioethanol plant in Podari, Romania. This followed a review that concluded that the economics of the plant could not justify the additional capital expenditure needed to continue the ramp-up.

The company will also downsize the related activities of the Biofuels & Derivatives business line at three sits in Germany. The required capabilities to maintain the technology and to fulfil existing contractual obligations will be kept.

Clariant to buy Lucas Meyer

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.

Clariant to expand Daya Bay

Clariant is to invest CHF 80 million to expand its Care Chemicals facility at Daya Bay in Huizhou, China, by the end of 2024. This will both add capacity for existing products and introduce new products in the pharmaceutical, personal care, home care and industrial sector.

Daya Bay, which has obtained the drug GMP certificate, is the first API site in China certified to produce polyethylene glycol Polyglykol 3350. More generally, it will become new global hub for Clariant’s healthcare business support.

Impairment taken on Sunliquid plant

Following a financial assessment of the plant as part of the annual impairment testing in accordance with International Financial Reporting Standards, Clariant is to take an impairment of about CHF 225 million to the current asset value of its recently opened Sunliquid plant in Podari, Romania.

Two Dubai openings for Clariant

Clariant opened two new facilities at the Dubai Science Park in late October. The company said that the EMEA region technical centre for its Oil Services business, which it said “will leverage the latest technologies and more sustainable oilfield chemicals” in both oil and gas production.

Two invest in flame retardants in China

Clariant and Italmatch Chemicals have both announced investments in phosphorus-based flame retardants in China in the past two weeks as demand continues to grow from growth in the use of engineering plastics in the e-mobility, 5G communications, transportation, and electrical and electronic segments.

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