Clariant has agreed to sell 80% of its Pigments business to a consortium made up of German pigments specialist Heubach Group and private investment firm SK Capital Partners, which owns many other chemical industry operations. This should close in 1H 2022.
According to an analysis by CEFIC of data reported through the EU’s Safety Gate, 2020 saw a steep increase in imports of hand sanitisers that were not compliant with the EU chemicals safety rules. These were either not marked as flammable or containing methanol, as required by EU Classification & Labelling rules, or had insufficient ethanol to kill viruses, as required by the Biocides Regulation, CEFIC noted.
Speciality chemicals firm Element Solutions has made a binding €420 million offer to acquire Coventya Holding, a French-based supplier of metal-finishing speciality chemicals, from Silverfleet Capital. This should be completed in late Q3 or Q4 2021, subject to regulatory approvals, employee consultation and other customary closing conditions.
The Biden administration has announced plans to tackle the US’s dependency on imports for critical medicines, with a new strategy that will seek to drive the ‘reshoring’ of some manufacturing. This follows a multi-industry review of key supply chains, occasioned by an executive order in February.
According to a report on Bloomberg that cited unnamed people involved, BASF and its private equity partner, Clayton Dubilier & Rice (CD&R), are considering an exit from water treatment specialist Solenis and have been in talks with several special purpose acquisition companies. A price in the region of $5 billion is reportedly being sought. Neither party has commented on this speculation.
Agribusiness giant Cargill and German chemical marketing and distribution firm Helm have formed a joint venture called Qore and will invest $300 million to build the first commercial-scale, renewable 1,4-butanediol (BDO) facility in the US. This will be located at Cargill’s biotechnology campus and corn refining operation in Eddyville, Iowa, and should be in operation in 2024.
Vertellus has signed a definitive agreement to acquire IM Chemicals, ESIM Chemicals’ intermediates and specialities division, subject to customary regulatory approvals. Terms were not disclosed.
CEO John Van Hulle described the deal as “directly in line with Vertellus’ strategy to become a leading global provider of specialty chemicals and solutions through both internal growth and acquisitions of complementary customer-focused businesses”.