Croda acquires polymer unit of Arizona Chemical
FTSE 100-listed chemicals manufacturer Croda International has completed the acquisition of the Specialty Products business of Arizona Chemical.
FTSE 100-listed chemicals manufacturer Croda International has completed the acquisition of the Specialty Products business of Arizona Chemical.
Under the terms of the transaction, no manufacturing assets will be acquired and Croda said it would immediately commence the relocation of products to its Mevisa manufacturing site in Spain. When ready, it said it would re-launch the products with new trade names and marketing identities.
Croda said that the acquisition added a portfolio of "class-leading oil gelling polymers" to its business and further expanded its footprint in the polymers arena. The company added that the technologies and products of the acquired business were naturally derived polyamides with a high bio-renewable content, covered by a range of patents.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Keith Layden, Chief Technology Officer at Croda, said: "This acquisition represents further progress in our strategy to acquire complementary new technologies."
He added: "The varied functionality of these specialised polyamides will be a valuable addition to our offerings across both the consumer care and performance technologies market sectors. In addition, there are a number of opportunities to further differentiate the technology and create value for ourselves and our customers."
MF
-
Private school fees soar and VAT threat looms – what does it mean for you?
Rising private school fees could see more than one in five parents pull their children out of their current school. Before you remortgage, move house or look to grandparents for help, here’s what you need to know.
By Katie Williams Published
-
Best and worst UK banks for online banking revealed
When it comes to keeping your money safe, not all banks are equal. We reveal the best and worst banks for online banking when it comes to protecting your money from scams
By Oojal Dhanjal Published