Croda to sell Performance Tech and Industrial Chemicals business to Cargill for €915 million
Croda has announced that it has signed an agreement to sell the majority of its Performance Technologies and Industrial Chemicals businesses to Cargill for an enterprise value of €915 million.
2021 Resistance: Manufacturing
The pandemic killed the global supply chain as we knew it and several suppliers, manufacturers and retailers have struggled to come to terms with that in 2021. The result? Empty shelves, rising inflation and a stark choice between passing on the rising costs to consumers or taking a hit on margin to come.
2021 Resilience: Manufacturing
Supply chain disruption prompted by pandemic shutdowns has persisted throughout 2021 and only those able to think on their feet and come up with workarounds can thrive in this environment. Investment in local sourcing, safeguarding raw materials supply, local manufacturing hubs, a flexible approach to logistics and the ability to generate power on site have all been crucial for success in the past 12 months.
BASF signs a 25-year offshore wind power purchase agreement with Orsted
BASF and Orsted have signed a 25-year fixed price corporate power purchase agreement, under which BASF will offtake the output of 186 megawatts from Orsted’s planned wind farm in the North Sea. With its 25-year term, it’s said to be the longest CPPA for offshore wind ever announced.
Ingredient shortage threatens UK supplies of fake tan
The UK’s supply of fake-tan products is at risk due to a shortage in supply of ingredient solvent ethoxydiglycol, according to the Guardian.
Henkel reports organic sales growth of 3.7 percent; trims full year forecast due to raw material price hike and logistics costs
Henkel has reported a Q3 organic sales growth of 3.7 percent YOY and 7.5 percent vs 2019, with the rise driven mainly by emerging markets.
Firmenich and MG International announce CHF47 million perfumery hub
Firmenich and MG International Fragrance are set to build a new regional perfumery production hub on the MG International campus near Istanbul, Turkey.
Intercos prices IPO for €1.3 billion valuation
Intercos has set the offer price range for its shares at between €12 and €14.50 as it prepares to list on the Italian Bourse, according to a report published by WWD, giving the contract manufacturer a valuation of between €1.1 billion and €1.3 billion.
Unilever reports Q3 sales rise; warns of further inflation next year
Unilever has reported a Q3 sales growth of 2.5 percent, up on the 2.2 percent analyst predictions. However, it warned of further inflation next year due to surging energy and other costs.
Procter & Gamble to increase prices in U.S. as commodity and freight costs rise
Procter & Gamble has announced it is to increase prices of its grooming, oral and skincare products in the U.S. in a bid to offset higher commodity and freight costs, which are set to take a chunk out of its earnings, according to a report by Reuters.
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