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.

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

Recommended

Imperial Brands has an 8.3% yield – but what’s the catch?
Share tips

Imperial Brands has an 8.3% yield – but what’s the catch?

Tobacco company Imperial Brands boasts an impressive dividend yield, and the shares look cheap. But investors should beware, says Rupert Hargreaves. H…
20 May 2022
Investing in drugmakers: uncommon profits from curing rare diseases
Share tips

Investing in drugmakers: uncommon profits from curing rare diseases

Treatments for medical conditions with only a small number of sufferers can still be very attractive for pharmaceutical companies and investors becaus…
20 May 2022
Share tips of the week – 20 May
Share tips

Share tips of the week – 20 May

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
20 May 2022
Delivering profits: should you buy Royal Mail shares?
Share tips

Delivering profits: should you buy Royal Mail shares?

The volume of parcels delivered by Royal Mail soared during the pandemic, and so did its profits. But it has been coming under pressure lately. So, as…
19 May 2022

Most Popular

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves looks at the FTSE 100’s top yielding stocks for income investors to consider.
18 May 2022
Aviva: a share for income investors to tuck away
Share tips

Aviva: a share for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
18 May 2022
Despite the crypto crash, bitcoin still has a bright future
Bitcoin & crypto

Despite the crypto crash, bitcoin still has a bright future

Cryptocurrencies have crashed hard, with bitcoin down by more than 50% from its peak. But, says Dominic Frisby, bitcoin still has a future – it is the…
19 May 2022