Croda begins building North America HQ
Croda International has started construction on its North American headquarters and innovation centre near Princeton, New Jersey. Due to be completed before the end of 2020, this will bring together commercial and technical teams from across its business areas, enabling Croda to further optimise collaboration with customers in North America.
Features include 1,000 m2 of laboratory space for the development of new technologies and technical support and a 250 m2 ‘customer experience centre’ for on-site training and real-time collaboration. The company added that it has been designed “with sustainability as a top focus” as part of its goal of becoming “climate-, land and people-positive by 2030”.
Earlier in July, Croda acquired Avanti Polar Lipids, which makes high-purity polar lipids for based drug delivery technologies, for an initial $185 million plus an additional earn-out of up to $75 million based on near-term commercial opportunities. This is subject to regulatory approval in the US.
Avanti is based in Alabama and employs 150, including over 100 scientists. Its technology is said to be highly complementary to Croda’s own capabilities in drug delivery systems, vaccine adjuvants and immunotherapy. The firm will continue to exist as a brand, within Health Care business.