Innospec indicates interest in acquiring TPC Group
1
efforts to commercialize MES surfactants in Japan and other developed markets, eg by Lion Corp and BASF, have been documented in these pages since 2004, Colombia already produces a palm oil-based laundry detergent powder, the first Latin American country to offer such a product. Top Terra Ecologico was launched by Detergentes Ltda in Oct 2011 and contains 50% alpha-MES as the active ingredient. Perez concludes that Colombia has significant potential as a producer of sustainable palm oil feedstock, as well as the capabilities to develop new oleochemical products on a medium to large scale. Caroline Edser RAW MATERIALS Innospec indicates interest in acquiring TPC Group Innospec Inc has submitted a non- binding proposal to acquire all outstanding shares of common stock of TPC Group for an all-cash purchase price in the range of $44 to $46/share. The offer is supported by investment funds affiliated with Blackstone Capital Partners VI LP, which Innospec expects to provide equity financing for the transaction. Among TPC’s products are nonene and propylene oligomers, which are used as intermediates in the manufacture of detergents and other end products. Original Source: Innospec Inc, 2012. From BioSpace, 9 Oct 2012, (Website: http://www.biospace.com/) LS9 starts up Florida demonstration plant LS9, a producer of bio-based chemicals and fuels, has commissioned its first scaled-up facility at Okeechobee, FL, USA, for the production of fatty alcohols from sugar [Focus on Surfactants, Jul & Oct 2012]. Both partners and prospective clients will be involved in testing and qualification of large amounts of commercial samples generated by the facility. The fatty alcohols produced will mainly be used as surfactants in detergents, although other applications are envisaged. The ability of the new facility to produce both biodiesel and fatty esters is also to be demonstrated by LS9. Original Source: Chemical and Engineering News, 17 Sep 2012, 90 (38), 16 (Website: http://www.cen- online.org) © American Chemical Society 2012 BASF and CSM establish 50-50 joint venture for bio-based succinic acid BASF and Purac (a subsidiary of CSM) are establishing a joint venture for the production and sale of bio-based succinic acid. The company will be named Succinity GmbH and will be operational in 2013. The establishment of Succinity GmbH is subject to registration with the relevant competition authorities. The company headquarters will be in Düsseldorf, Germany. BASF and CSM have been conducting research on succinic acid under a joint development agreement since 2009. The complementary strengths in fermentation and downstream processing led to the development of a sustainable and highly efficient manufacturing process based on a proprietary microorganism. The bacterium used is Basfia succiniciproducens, which produces succinic acid through natural processes. It is capable of metabolizing a variety of renewable feedstocks into succinic acid. The new process combines high efficiency with the use of renewable raw materials and the fixation of the greenhouse gas carbon dioxide in the production of succinic acid. This makes bio-based succinic acid an economically and ecologically attractive alternative to petrochemical raw materials. The demand for succinic acid is anticipated to grow strongly in the years ahead, driven mainly by bioplastics, chemical intermediates, solvents, polyurethanes and plasticizers. BASF and CSM are currently modifying an existing fermentation facility at Purac’s Montmelo site near Barcelona, Spain for the production of succinic acid. This plant will commence operations in late 2013 with an annual capacity of 10,000 tonnes/y succinic acid. It will put the new joint venture company in a leading position in the global marketplace. This is complemented by plans for a second large-scale facility with an annual capacity of 50,000 tonnes/y succinic acid to enable the company to respond to the expected increase in demand. The final investment decision for this facility will be made following a successful market introduction. In related news, US firm BioAmber, which has already produced biosuccinic acid on a commercial scale at its plant in Pomacle, France, has partnered with PTT MCC Biochem (PTTMCC) and Mitsui & Co. Myriant is also partnering with PTTMCC in a succinic acid project and has marketing and supply deals with other partners. Original Source: BASF SE, D-67056 Ludwigshafen, Germany, tel: +49 621 600, website: http://www.basf.com (5 Oct 2012) © BASF 2012. Original Source: ICIS Chemical Business, 1 Oct 2012, (Website: http://icischemicalbusiness.com) © Reed Business Information Limited 2012 SURFACTANTS Solvay accelerates its development in India with the acquisition of Sunshield Chemicals Multinational group Solvay has signed an agreement to acquire a controlling interest in Sunshield Chemicals, an Indian company specializing in surfactants, from Amit Choksey Group. The deal was expected to close within three months. Although the cost of the acquisition has not been specified, Solvay indicates that it is based on a figure less than nine times the company’s current EBITDA. Sunshield Chemicals had a turnover of Rup 943 M (€13.5 M) in 2011- 2012, and reported EBITDAs of Rup 71 M and Rup 86 M for the two financial years prior to Mar 2012. Sunshield Chemicals produces and exports surfactants, cross-linkers and antioxidants. Working from its production site near Mumbai, the company serves a large number of markets for various applications in agrochemicals, textiles, coatings, lubricants, plastics, metal treatment, and home and personal care products. The acquisition will enable Solvay’s Novecare business to accelerate growth plans in India for the home and personal care, agrochemicals, coatings and industrial applications markets; the Indian surfactants market is currently witnessing double-digit growth. The transaction follows the opening of a major innovation centre in Savli (Gujarat State) and further reinforces 2 DECEMBER 2012 FOCUS ON SURFACTANTS
Transcript of Innospec indicates interest in acquiring TPC Group
efforts to commercialize MESsurfactants in Japan and otherdeveloped markets, eg by Lion Corpand BASF, have been documented inthese pages since 2004, Colombiaalready produces a palm oil-basedlaundry detergent powder, the firstLatin American country to offer such aproduct. Top Terra Ecologico waslaunched by Detergentes Ltda in Oct2011 and contains 50% alpha-MES asthe active ingredient. Perez concludesthat Colombia has significant potentialas a producer of sustainable palm oilfeedstock, as well as the capabilities todevelop new oleochemical products ona medium to large scale.
Caroline Edser
RAWMATERIALS
Innospec indicates interest inacquiring TPC Group
Innospec Inc has submitted a non-binding proposal to acquire alloutstanding shares of common stockof TPC Group for an all-cashpurchase price in the range of $44 to$46/share. The offer is supported byinvestment funds affiliated withBlackstone Capital Partners VI LP,which Innospec expects to provideequity financing for the transaction.Among TPC’s products are noneneand propylene oligomers, which areused as intermediates in themanufacture of detergents and otherend products.
Original Source: Innospec Inc, 2012. From BioSpace,9 Oct 2012, (Website: http://www.biospace.com/)
LS9 starts up Florida demonstrationplant
LS9, a producer of bio-basedchemicals and fuels, hascommissioned its first scaled-upfacility at Okeechobee, FL, USA, forthe production of fatty alcohols fromsugar [Focus on Surfactants, Jul &Oct 2012]. Both partners andprospective clients will be involved intesting and qualification of largeamounts of commercial samplesgenerated by the facility. The fattyalcohols produced will mainly be usedas surfactants in detergents, although
other applications are envisaged. Theability of the new facility to produceboth biodiesel and fatty esters is alsoto be demonstrated by LS9.
Original Source: Chemical and Engineering News, 17Sep 2012, 90 (38), 16 (Website: http://www.cen-online.org) © American Chemical Society 2012
BASF and CSM establish 50-50 jointventure for bio-based succinic acid
BASF and Purac (a subsidiary of CSM)are establishing a joint venture for theproduction and sale of bio-basedsuccinic acid. The company will benamed Succinity GmbH and will beoperational in 2013. The establishmentof Succinity GmbH is subject toregistration with the relevantcompetition authorities. The companyheadquarters will be in Düsseldorf,Germany. BASF and CSM have beenconducting research on succinic acidunder a joint development agreementsince 2009. The complementarystrengths in fermentation anddownstream processing led to thedevelopment of a sustainable andhighly efficient manufacturing processbased on a proprietary microorganism.The bacterium used is Basfiasucciniciproducens, which producessuccinic acid through naturalprocesses. It is capable of metabolizinga variety of renewable feedstocks intosuccinic acid. The new processcombines high efficiency with the useof renewable raw materials and thefixation of the greenhouse gas carbondioxide in the production of succinicacid. This makes bio-based succinicacid an economically and ecologicallyattractive alternative to petrochemicalraw materials. The demand for succinicacid is anticipated to grow strongly inthe years ahead, driven mainly bybioplastics, chemical intermediates,solvents, polyurethanes andplasticizers. BASF and CSM arecurrently modifying an existingfermentation facility at Purac’sMontmelo site near Barcelona, Spainfor the production of succinic acid. Thisplant will commence operations in late2013 with an annual capacity of 10,000tonnes/y succinic acid. It will put thenew joint venture company in a leadingposition in the global marketplace. Thisis complemented by plans for a secondlarge-scale facility with an annualcapacity of 50,000 tonnes/y succinicacid to enable the company to respond
to the expected increase in demand.The final investment decision for thisfacility will be made following asuccessful market introduction.
In related news, US firm BioAmber,which has already producedbiosuccinic acid on a commercial scaleat its plant in Pomacle, France, haspartnered with PTT MCC Biochem(PTTMCC) and Mitsui & Co. Myriant isalso partnering with PTTMCC in asuccinic acid project and has marketingand supply deals with other partners.
Original Source: BASF SE, D-67056 Ludwigshafen,Germany, tel: +49 621 600, website:http://www.basf.com (5 Oct 2012) © BASF 2012.Original Source: ICIS Chemical Business, 1 Oct 2012,(Website: http://icischemicalbusiness.com) © ReedBusiness Information Limited 2012
SURFACTANTSSolvay accelerates its development inIndia with the acquisition of SunshieldChemicals
Multinational group Solvay has signedan agreement to acquire a controllinginterest in Sunshield Chemicals, anIndian company specializing insurfactants, from Amit ChokseyGroup. The deal was expected toclose within three months. Althoughthe cost of the acquisition has notbeen specified, Solvay indicates thatit is based on a figure less than ninetimes the company’s current EBITDA.Sunshield Chemicals had a turnoverof Rup 943 M (€13.5 M) in 2011-2012, and reported EBITDAs of Rup71 M and Rup 86 M for the twofinancial years prior to Mar 2012.Sunshield Chemicals produces andexports surfactants, cross-linkers andantioxidants. Working from itsproduction site near Mumbai, thecompany serves a large number ofmarkets for various applications inagrochemicals, textiles, coatings,lubricants, plastics, metal treatment,and home and personal careproducts. The acquisition will enableSolvay’s Novecare business toaccelerate growth plans in India forthe home and personal care,agrochemicals, coatings andindustrial applications markets; theIndian surfactants market is currentlywitnessing double-digit growth. Thetransaction follows the opening of amajor innovation centre in Savli(Gujarat State) and further reinforces
2 DECEMBER 2012
F O C U S O N S U R F A C T A N T S
