Elementis has entered into an agreement to acquire SummitReheis (Hugenot, New York) from an affiliate of One Rock Capital Partners for $360 million.
SummitReheis produces a range of active ingredients and materials use in personal care, pharmaceutical and dental products. Its anti-perspirant actives business, which accounts for more than 60% of sales, is the global leader in this field and has long standing relationships with key consumer product companies across the Americas, Europe and Asia.
SummitReheis 2016 revenue is estimated at $134 million with EBITDA of approximately $28 million. The company’s primary manufacturing operations are in North America and Europe with approximately 70% of revenue derived from these markets. Elementis says the deal will expand its personal care business to approximately $200 million. The deal is expected to close in the second quarter following receipt of antitrust clearances in the US and Germany.
SummitReheis’ primary focus is the manufacture and sale of aluminum and zirconium based active ingredients for anti-perspirant products. In the pharma field, it produces active ingredients for indigestion and heartburn remedies and in the dental area it makes plasters, alloys, discs and molding materials that are used to make dental crowns, bridges, replacement teeth and in other applications.
By Natasha Alperowicz
Source: Chemical Week
We are closing the chapter of the Chemicals Import Export Headquarters, and opening a new chapter under the name of Qemetica – a chemical group driving many industries on all continents. Therefore, the change of name is also accompanied by the adoption of the key goals of the business strategy for the next 6 years. – says Kamil Majczak, President of the Management Board.
In its efforts to advance chemical recycling, Neste has successfully conducted its first processing trial run with a new challenging raw material, liquefied discarded tires. In the processing run, Neste produced high-quality raw material for new plastics and chemicals.
Sika is opening a state-of-the-art facility in Lima, Peru, to produce synthetic macro fibers, and expanding the rollout of a product range with great growth potential in Latin America. With this innovative technology, Sika is further strengthening its position as a leading supplier to the mining industry and a strong partner for infrastructure projects.
