NEWS
IFF considering $1 billion sale of Lucas Meyer Cosmetics – report
IFF is contemplating a sale of personal care ingredient producer Lucas Meyer Cosmetics, according to media reports. Bloomberg said IFF has
appointed an adviser to explore options for the Quebec City- based business it acquired from Unipex Group for €283m ($306m) in 2015. The report speculated that
Lucas Meyer Cosmetics, valued at around $1 billion, could attract interest from Croda International,
Givaudan and Symrise. Deliberations are ongoing
and IFF could opt to keep the business, Bloomberg said. Earlier this month, IFF
reduced its full year 2023 sales forecast to $12.3 billion from $12.5 billion.
The company said the change
in sales guidance reflects energy and raw material pass-through price adjustments as well as unfavourable impact from foreign exchange.
Ashland opens Hamburg R&D centre
US personal care ingredient producer Ashland has opened a research and development (R&D) centre for microbial protection in Hamburg, Germany. The Hamburg facility includes a technical
support team with expertise in preservatives and multifunctionals to support global customers. A microbiology team will perform different
bioburden tests for customers and develop customized tests whenever their expertise is needed to make a difference. The Hamburg centre also houses
researchers focused on future antimicrobial solutions with AI-based screening and evaluation of new candidates and exploration of sustainable ways to produce interesting ingredients. “We are excited to add this state-of- the-art, highly equipped laboratory to the Ashland portfolio for a holistic approach to personal care solutions with a focus on helping customers choose the right antimicrobial to safely protect cosmetic, skin, hair, and oral care products,” said Tuttu Nuutinen, R&D group leader, personal care, Ashland. “Our new capabilities will better
support today and tomorrow’s increasing consumer needs for performance, safety and transparency.”
“As we look ahead to
the balance of the year, we continue to believe our volume performance will improve, yet acknowledge that market conditions remain uncertain,” said IFF CEO Frank Clyburn. “As such, we remain steadfast
in our focus to control what we can control as we solidify profitability, maximize cash flow and drive portfolio optimization to generate strong returns for our shareholders.”
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www.personalcaremagazine.com
July 2023 PERSONAL CARE
Credit Clamens Design
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