Merck KGaA is to sell its global Surface Solutions business unit to Global New Material International Holdings (GNMI), one of the world’s largest pearlescent pigment producers, for €665 million in cash, subject to regulatory approvals and other customary closing conditions. This includes works council agreement for the French part of the business, which is not yet part of the deal but is subject to a binding agreement.
Solenis is to acquire BASF’s flocculants business for mining applications in a deal that should close within 2H 2024. Financial details are not being disclosed. Solenis had previously acquired BASF’s paper wet-end and water chemicals business in 2019.
Jacques Herber, Solenis’s CBO in EMEA and Asia said that brining the BASF sales team on board “will allow us to develop closer relationships with our customers by providing more solutions and added value to their operations and will eliminate supply agreements between BASF and Solenis.”
Following laboratory trials Integrals Power, a next-generation battery nanomaterials company, has started production of its proprietary advanced cathode active materials (CAMs) at its pilot plant in Milton Keynes. This is one of the first of its kind in the UK and has been developed with localising the supply chain. All of the materials are sourced form European and North American suppliers.
Venator Materials has completed the sale of its 50% interest in the Louisiana Pigment Company (LPC) TiO2 manufacturing joint venture facility to its operating partner, Kronos Worldwide. It has received $185 million in cash, subject to working capital adjustments, and expects a further earn-out payment of up to $15 million. This is part of an ongoing transformation programme for the troubled firm.
CordenPharma is to spend about €900 million over the next three years to expand its peptide technology platform, with investments on both sides of the Atlantic. This will be the largest strategic investment to date for the company, which is owned by pan-European private equity firm Astorg and aims to achieve €1 billion/year in sales from peptides
Price pressure stalls re-shoring in US agrochemicals, but business was brisk with positive energy at the Specialty & Agro Chemicals America event. Gregory D.L. Morris reports from Savannah
FMC Corporation has agreed to sell its Global Specialty Solutions (GSS) business to Envu for $350 million, subject to closing working capital adjustment. The deal is expected to close by year-end 2024, subject to regulatory approval and other customary closing conditions. FMC intends to allocate all proceeds to debt reduction.
