Cognis sells Oleochemicals biz
This article was originally published in The Rose Sheet
Executive Summary
Specialty chemicals supplier Cognis has sold its 50% stake in the Cognis Oleochemical business to Thai chemical producer PTT Chemical Public Company Limited for $163 mil., firm reports. Deal is expected to close by end of the year. The business, which will be operated under its current name until a new one is chosen, remains half-owned by Malaysian firm Sime Darby Plantation and continues to make oleochemical products including palm oil, glycerine, fatty acids and other ingredients for personal care and other applications. "We share a vision of Cognis Oleochemicals becoming the global leader in value-added and diversified oleochemicals through a long-term commitment to invest in growth and a renewed focus on customer needs, market driven R&D, and innovation," PTT Chemical President and CEO Aditheb Bisalbutr says...
You may also be interested in...
Japan Grants Global-First Approval To Zolbetuximab, 15 Other New Drugs
Astellas's first-in class CLDN18.2-targeting antibody receives its first approval worldwide, while crovalimab and a number of drugs for rare diseases also receive nods from regulators and are now awaiting reimbursement price-listing.
Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.
Beauty Firms Using AI-Based Tools Could Be Subject To Health Privacy Laws In US States
Using AI-based programs to collect and store consumer information risks running afoul of new health privacy laws cropping up in US states. Lack of federal regulation or guidance on the issue is one of the biggest challenges for beauty firms deploying AI, according to Stacy Marcus, partner at Reed Smith LLP.