Evonik has concluded a purchase agreement to take over French start-up Alkion BioPharma. Terms of the deal were not disclosed, but the purchase is expected to complete this month.
Alkion’s strength lies in sustainably developed plant-based ingredients for cosmetics and the acquisition will extend Evonik’s personal care portfolio in the specialty actives field, while Alkion is set to benefit from Evonik’s marketing heft, raising awareness of its specialized extraction technology.
“Thanks to its formulation and application expertise, Evonik enjoys an excellent reputation in the cosmetics industry. We are resolutely continuing along this path with the acquisition of Alkion,” said Dr. Tammo Boinowitz, Head of the Personal Care Business Line at Evonik. “This allows us to offer customers product concepts to set themselves apart from competitors.”
By Georgina Caldwell
Source: Global Cosmetic News
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).
