THE WHAT? Croda has announced a strategic review of its Performance Technologies and Industrial Chemicals (PTIC) businesses.
THE DETAILS The review will focus on the businesses and activities within the PTIC unit that do not directly support Croda’s more profitable Life Sciences and Consumer Care sectors. It will consider whether Croda is the best future owner of all the PTIC businesses and explore whether the full potential of PTIC would be better realised under Croda’s ownership, as a standalone business or via full or partial divestment.
The review is expected to conclude by the end of the year.
THE WHY? Croda said that the core objective will be to establish what ownership structure best serves this part of its business going forward to create a stronger platform for its future growth. The review is consistent with Croda’s prioritisation of its resources in the faster-growth life science and consumer markets, which represent more than 80 percent of the group’s profitability.