Croda plans strategic review of chemicals
Croda International is to conduct a strategic review of its Performance Technologies and Industrial Chemicals (PTIC) businesses during 2021, to decide on the best ownership structure going forward. Full or partial divestment and a spin-off are all options, the company said.
The review will focus on the businesses and activities within PTIC that do not directly support the consumer care and life sciences sectors. These now account for over 80% of Croda’s profits and are enjoying faster growth. The company is already prioritising investment in these areas. PTIC is focused on the circular plastic economy, electric vehicles and other renewable technologies.