NEWS
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Evonik to invest €3 billion in ‘Next Generation Solutions’ by 2030
Evonik is to invest more than €3 billion in ‘Next Generation Solutions’ by 2030 as the German outfit pivots to three core businesses. The company is aligning
its portfolio completely to its three growth divisions: Specialty Additives, Nutrition & Care, and Smart Materials. Preparations are under way
for the exit of all three businesses of Performance Materials - Superabsorbents, Functional Solutions and Performance Intermediates. Evonik aims to find new
owners or partners for each of these three businesses in the course of 2023. The proceeds from the
divestment of the Performance Evonik aims to reduce
its footprint by significantly cutting both direct and indirect greenhouse gas emissions from production and processing. With the support of Next
Generation Technologies, Evonik will reduce its scope 1 and 2 emissions by 25%, from 6.5 million metric tons at present to 4.9 million metric tons by 2030. “We are greatly increasing
Materials businesses and the operating cash flow in the coming years will be channelled to Evonik’s green transformation. In addition to the more than €3 billion invested in Next
Iberchem posts record sales in fiscal year 2021
Iberchem Group, part of Croda International, posted sales in excess of €200 million for the first time in 2021. The Spanish outfit said its
success in fiscal year 2021 was due to steady organic growth supported by an increasing number of sales synergies and business opportunities resulting from its acquisition by Croda and the acquisition of Grasse-based fragrance house Parfex in 2021. “We have seen an exciting
year on many levels. Despite a certain lack of visibility during the first half of the year due to the ongoing pandemic, we observed rapid growth over the last two quarters,” said Iberchem finance director Manuel Gonzalez. “Across a large portion of
our portfolio, we saw increased activity in the project pipeline. Even with Covid continuing to impact some emerging markets, we were able to sustain a positive financial performance, aligned with our 2025 growth plan,” he added. “We showed resilience and
recovered in the areas of the business most affected by social
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distancing and travel restrictions, first in the Middle East and ultimately in Africa”. José Balibrea, managing
director of Iberchem Group, added: “In terms of overall business strategy, I am extremely pleased with how things are unfolding with Croda. Both companies are now more familiar with each other and can better align their efforts, while at the same time preserving the success Iberchem’s business model has enjoyed over the last three decades. “There are significant
whitespaces in Western Europe and the US where Iberchem has a huge potential to grow with the benefit of Croda’s existing network and operations. “We are already in a joint
collaboration with Croda’s botanical business unit in China and have an exciting project to be unveiled in this market, which is destined to multiply our existing production and R&D capabilities.” In other news, Croda
International has retained its platinum rating for business sustainability by EcoVadis.
DSM, Firmenich merger to create DSM-Firmenich
Royal DSM is to merge with Swiss fragrance company Firmenich to create DSM-Firmenich. The Dutch company said DSM
shareholders will own 65.5% of the merged company following the deal while Firmenich shareholders will hold the remaining 34.5%.
The deal implies an enlarged
market capitalization of €25.3 billion based on a share price of €145.65.
The merger will bring together Firmenich's perfumery and taste businesses with DSM's health and nutrition portfolio. Completion of the deal and
listing on Euronext Amsterdam is slated for the first half of 2023. DSM-Firmenich will
have dual headquarters in Switzerland (Kaiseraugst) and the Netherlands (Maastricht). DSM chairman Thomas
Leysen will become chairman of DSM-Firmenich, with Firmenich chairman Patrick Firmenich becoming vice-chairman. DSM co-chief executives
Geraldine Matchett and Dimitri de Vreeze will be named co-CEOs of the new company. “The merger of DSM-
Firmenich will further accelerate innovation for the industry and generate new growth opportunities for customers. It will form a new global-scale partner to serve the food and beverage industry, combining DSM's Food & Beverage and Firmenich's Taste & Beyond businesses,” the companies said. “Firmenich's world-leading
global Perfumery and Ingredients business will expand further into Beauty through the addition of DSM's Personal Care & Aroma business."
July 2022 PERSONAL CARE
Generation Solutions, Evonik will spend a further €700 million on ‘Next Generation Technologies’ - the optimization of production processes and infrastructure to avoid carbon emissions.
our handprint and reducing our footprint at the same time,” said Thomas Wessel, the executive board member responsible for sustainability. “Translated into KPIs: We will
substantially increase the sales share of our Next Generation Solutions from 37% at present to over 50% by 2030.”
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