Two companies active in the speciality chemicals sector - chemicals distributor Azelis and Nouryon, the former chemicals division of AkzoNobel – have separately announced IPOs in recent weeks. Both are currently owned by private equity.
As part of its ongoing strategy, Nouryon is to spin out its base chemicals business into a separate company called Nobian. This should be complete by early Q3. Both will remain under the ownership of the Carlyle Group and GIC and Nouryon intends to reduce its own debt with the proceeds of a planned external financing by Nobian.
Nouryon plans to expand its capacity for monochloroacetic acid (MCA) at Delfzijl, Netherlands, by the end of 2020. Together with the opening of a new joint venture plant in India later this year, which will increase its global capacity by 20%.
Nouryon has completed two recently announced advances: the acquisition of the carboxymethyl cellulose (CMC) business of J.M. Huber, including a manufacturing plant and advanced R&D facility located in Äänekoski, Finland; and doubling organic peroxides at its plant in Itupeva, Brazil.
Nouryon, the former AkzoNobel Specialty Chemicals, has launched the third edition of its ‘Imagine Chemistry’ collaborative innovation challenge, under which start-ups, scale-ups, university spin-outs and other potential partners are invited “to tackle chemistry-related challenges and uncover new ways to create value for customers”