NEWS
Symrise makes India move with Virchow joint venture
Symrise has entered into a joint venture dedicated to manufacturing personal care ingredients in India with Andhra Pradesh-based pharmaceutical actives maker Virchow Group. The new company, Vizag
Care Ingredients, is based in Visakhapatnam, including one local chemical manufacturing site. Production is slated to begin by the end of June. Symrise’s global sales
organization will carry out promotion and sales activities of the products manufactured by the joint venture, which is majority owned by the German firm.
The Visakhapatnam facility
is Symrise’s first chemical manufacturing site outside Europe and the Americas. Vizag Care Ingredients plans to
expand the site in the coming years to facilitate the production of world- scale volume of beauty ingredients, serving the APAC region and beyond.
Symrise believes the move
will strengthen its leading position as a supplier of high-quality personal care solutions, including multifunctional product protection ingredients, high-performance actives & botanicals, and next- generation UV filters. “Our entire customer base will
benefit from the proximity, efficiency, and sustainability advantages that come with a supply of our market-leading cosmetic ingredients portfolio out of India,” said Symrise Scent & Care president Dr. Joern Andreas. “Virchow Group and Symrise
share the same values, so this partnership perfectly fits,” he added. “Together, we will manufacture modern ingredients in India that
drive innovation, safety, and efficacy for our global customers. In addition, we seek to make an impact in the local community of Visakhapatnam by continuously investing and creating jobs.” In a related development,
Symrise has launched Savelite HB, a multifunctional hydroxypropolyester designed to protect all types of cosmetic products targeting normal to sensitive skin. Savelite HB, a clear, colourless,
and odourless liquid, enhances product protection by acting against microorganisms and oxidation. Savelite HB also acts as an
efficient moisturizer. In vivo corneometer testing showed an increase of 10.9% after two weeks.
Lucas Meyer Cosmetics acquisition sealed
US speciality chemical company Clariant has completed the acquisition of Lucas Meyer Cosmetics from IFF for $810m. Clariant will consolidate Quebec
City-based Lucas Meyer Cosmetics and its 190 employees in its Care Chemicals business unit. “I see the acquisition of Lucas
Meyer Cosmetics as a significant step forward for Care Chemicals,” said Clariant Care Chemicals president Christian Vang. “Customers as well as
consumers increasingly demand
high value natural ingredients. “We jointly look forward to
exciting growth opportunities and expect to increase annual sales to $180m in 2028 from around $100m currently,” he added. Clariant chief executive Conrad
Keijzer said the acquisition supports its goal of accelerating customer- and sustainability- driven innovation. “The complementarity in
customer portfolio, product portfolio, and regional strongholds and capabilities in R&D and in
marketing make the combination of Clariant and Lucas Meyer Cosmetics a leading solutions provider for high value personal care brands,” he added. In a related development, Lucas
Meyer Cosmetics has taken the wraps off Corneopeptyl, a patented
biomimetic peptide empowering the natural skin barrier function. Supported by nine clinical studies and tested at 1% on an inclusive panel with sensitive skin, Corneopeptyl reduces skin penetration, water loss and inflammation, confirming the improvement of the skin barrier function in seven days. Corneopeptyl minimizes the
appearance of wrinkles around the eye area in 14 days and increases skin hydration, tonicity, and smoothness in 28 days.
KCC Corporation to acquire 100% of Momentive Performance Materials In 2019, KCC acquired MOM
Seoul-based chemicals manufacturer KCC Corporation is to acquire all the remaining shares in US subsidiary Momentive Performance Materials. The move follows the
exit of minority shareholder SJL Partners, a private equity investment management firm also based in Seoul, Korea.
www.personalcaremagazine.com
Holding Co., the parent company of Momentive, for $3.1 billion and upped its stake in Momentive Performance Materials to 60% in 2021.
“We’re excited by the opportunities KCC’s 100% ownership position will bring to Momentive and the broader KCC
Corporation,” said Momentive president and CEO Sam Conzone. “We look forward to continuing
and expanding our partnership with the exceptional teams at KCC to continue providing specialized products to enable Solutions for a Sustainable World,” he added. Mong Jin Chung, chairman of KCC Group and Momentive,
added: “Momentive has a 75- year track record of developing and manufacturing silicones and speciality solutions. “We deeply believe in the
company’s growth opportunity as it continues to help businesses across the world delight their customers with innovative solutions.”
May 2024 PERSONAL CARE
9
Sophim acquires compatriots
Novastell French personal care supplier Sophim has acquired compatriots Novastell, a supplier of nutritional and functional ingredients. Novastell’s portfolio includes a
diverse array of functional lecithins, nutritional phospholipids, plant- based specialties and oils. Alpes de Haute Provence-
based Sophim said the acquisition is a strategic play to extend its influence in the nutraceutical sector. “Synergies between cosmetics
and nutraceuticals are increasingly numerous. This acquisition will enable us to accelerate our growth and bring new products to market more quickly,” added CEO Jacques Margnat. The acquisition is expected to
boost Sophim’s total workforce to 80.
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