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
Trinseo (NYSE: TSE), a specialty material solutions provider, announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany.
H.B. Fuller Company announced that Celeste Mastin, Executive Vice President and Chief Operating Officer, will succeed Jim Owens as H.B. Fuller’s President and Chief Executive Officer, effective December 4, 2022. Upon assuming the role, Mastin will also join the Company’s Board of Directors, replacing Owens, who will be retiring.
New LyondellBasell CEO Peter Vanacker, who joined the company from Neste in May, today named his senior executive team and outlined organizational changes, including creation of a circular and low-carbon solutions business. All changes will be effective 1 October.