Sector News

Evonik Industries acquires biotechnology company innovativeHealth

March 19, 2020
Energy & Chemical Value Chain

Evonik Industries AG on Thursday said it has acquired Madrid-based biotechnology company innovativeHealth Group.

innoHealth’s technology platforms screen and combine natural ingredients and extracts to generate new dermo-cosmetic products.

The German chemicals company said the acquisition – expected to complete by the end of March – will allow it to expand its product development for active ingredients as part of its strategy to grow its innovation footprint within and beyond the personal care field.

“With this latest acquisition we have strengthened our innovative power in the area of cosmetic active ingredients. We will now be able to optimize the costs and development time, as well as achieve high quality and high performance products that show attractive and scientifically proven properties,” said Tammo Boinowitz, Senior Vice President and General Manager at Evonik’s Care Solutions Business Line.

No financial details of the deal were disclosed.

Shares in Evonik were up 1.5% at EUR15.78 each on Thursday in Frankfurt.

By Ife Taiwo

Source: Alliance News via Morning Star

comments closed

Related News

December 3, 2023

CF Industries completes acquisition of Waggaman ammonia production facility

Energy & Chemical Value Chain

CF Industries Holdings, Inc. (NYSE: CF) today announced that it has closed its acquisition of Incitec Pivot Limited’s (“IPL”) ammonia production complex located in Waggaman, Louisiana. Under the terms of the agreement, CF Industries purchased the Waggaman ammonia plant and related assets for $1.675 billion, subject to adjustments.

December 3, 2023

Virent and Johnson Matthey: behind the pioneering technology that enabled the first 100% SAF trans-atlantic flight

Energy & Chemical Value Chain

The Virgin Atlantic flight was powered entirely by SAF, that was a drop-in replacement for conventional jet fuel, but made solely from sustainable feedstocks. This was enabled through the inclusion of a new bio-based aromatic jet fuel blending component.

December 3, 2023

COP28: Cepsa, C2X eye €1B investment in green methanol plant at Huelva, Spain

Energy & Chemical Value Chain

Cepsa SA (Madrid) has agreed a deal with C2X, an independent firm owned by AP Moller Holding with AP Moller-Maersk as minority owner, to develop a 300,000 metric tons per year renewable methanol plant at Huelva, Spain.

How can we help you?

We're easy to reach