Umicore has reached an agreement to sell its Zinc Chemicals business unit to OpenGate Capital, a US-based private equity firm with a focus on developing a broad portfolio of high-quality industrial activities.
The transaction places an enterprise value of € 142.4 million on the business and is expected to be closed during the second half of 2016, subject to standard regulatory approvals.
Commenting on the transaction, Umicore CEO Marc Grynberg said: “We are delighted to have concluded this deal. Zinc Chemicals has an outstanding portfolio of products and operations and our colleagues have done a great job to position the business as a leader in its market segments. The new owner has a clear industrial project and will provide the business with the means to further develop and grow.”
BNP Paribas and Cleary Gottlieb Steen & Hamilton acted as Umicore’s advisers in the transaction.
Source: Umicore
Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.
BASF and Israeli packager StePac have joined forces to create the “next generation” of fresh produce packaging. BASF will provide StePac with greater flexibility to advance contact-sensitive packaging formats to a higher sustainability standard by supplying StePac with Ultramid Ccycled – a chemically recycled polyamide 6.
TotalEnergies’ biorefinery in La Mède, France, allows direct access to renewable feedstock for its drop-in RE:newable polymer range derived from bio-based products. The company claims these polymers retain virgin-like properties.
