Ashland Global Holdings Inc., a specialty chemicals company serving a range of consumer and industrial markets, said Monday that it will acquire Pharmachem Laboratories Inc. for $660 million.
Pharmachem Labs provides ingredients for the health and wellness industry, such as vitamin and dietary supplements, ingredients for skin care and cosmetics, fragrance ingredients for laundry detergent and perfumes, and more.
The all-cash transaction is expected to be completed before the end of the June quarter. It’s also expected to be accretive to Ashland’s earnings per share in the first year following the close of the deal.
Ashland will host its investor day in New York City on May 1. Ashland shares are inactive in premarket trading, and are up nearly 12% for the year so far. The S&P 500 index is up 4% for 2017 so far.
By Tonya Garcia
Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.
Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.
Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.