Croda International Plc Acquires Products Business from Arizona Chemical
Croda International Plc announces today that it has completed the acquisition of the Specialty Products business of Arizona Chemical based in Jacksonville, Florida in the USA.
The acquisition adds a portfolio of class leading oil gelling polymers to Croda's business and further expands its footprint in the polymers arena, while strengthening Croda's leading position in speciality chemicals derived from renewable resources. The technologies and products of the acquired business are naturally derived polyamides with high bio-renewable content, covered by a range of patents.
Keith Layden, Croda's Chief Technology Officer, said:
"This acquisition represents further progress in our strategy to acquire complementary new technologies. The varied functionality of these specialised polyamides will be a valuable addition to our offerings across both the Consumer Care and Performance Technologies market sectors. In addition, there are a number of opportunities to further differentiate the technology and create value for ourselves and our customers."
No manufacturing assets will be acquired as part of this transaction and Croda will immediately commence the relocation of the products to Croda's Mevisa manufacturing site in Spain and when ready, re-launch the products with new trade names and marketing identities.