facility in Little Falls, Minnesota.
Jungbunzlauer aims to produce bio-based CITROFOL BI
(tributyl citrate) and bio-based
CITROFOL BII (acetyl tributyl citrate)
for its customers with commercial shipments beginning next month.
“Jungbunzlauer is an outstand-
ing collaboration partner for Green
Biologics,” said Timothy G. Staub,
global vice president of business de-
velopment for Green Biologics. “As
the global leader in natural ingredients
built off its core strengths in citric,
lactic and gluconic acids, and xan-
than gums, Jungbunzlauer has been
committed to sustainability for 150
years. We are delighted to be work-
ing exclusively with Jungbunzlauer on
the global introduction of bio-based
citrate derivatives.”
Green Biologics announced the start-
up of its first commercial production
facility for renewable n-butanol and ac-
etone in December 2016, with its first
bulk export shipment to Jungbunzlauer
in mid-January.
“Our focus is to selectively move our
renewable n-butanol and acetone into
high value markets, and Jungbunzlauer
is a superb technological and market-facing partner for Green Biologics,
particularly in citric-based plasticizers,
but in other bio-based esters as well,”
added Staub.
“Sustainability has been a key
principle of Jungbunzlauer since our
founding in 1867. With our mission,
‘From nature to ingredients,’ we be-
lieve that renewable products are es-
sential for the future success of our
customers in many evolving markets,
including our CITROFOL BI and
CITROFOL BII customers,” said Hans-
Peter Froschauer, product group man-
ager of Specialties at Jungbunzlauer
Ladenburg GmbH. “The opportunity
for bio-based plasticizers in personal
care, healthcare, bio-polymers and
many other industrial applications is
immense and it is global. We look for-
ward to a long and successful collabo-
ration with Green Biologics.”
Green Biologics is a member of the
American Chemistry Council (ACC) and
is building its new green solvents facility
to meet Responsible Care standards. The
company’s n-butanol and acetone have
received 100 percent bio-based, USDA
BioPreferred status.
Evonik Successfully
Completes Acquisition
of Air Products Specialty
Additives Business
Evonik Industries AG has completed the
activities to acquire the specialty additives business (Performance Materials
Division) of the U.S. company Air
Products, Inc. for $3.8 billion (approx.
€ 3. 5 billion) by the end of the year as
planned. All relevant antitrust authorities have approved the transaction and
the integration of the acquired business is
underway. The transaction financing was
completed successfully in September and
will consist of the company’s own funds
in the amount €1.6 billion, with the other
half to be financed by bonds with a nominal value of €1.9 billion.
“The successful completion of the
acquisition paves the way for swiftly
merging the activities of Evonik and
the acquired units of the Air Products
Performance Materials business,” said
Klaus Engel, chairman of the Executive
Board of Evonik Industries AG. “It puts
Evonik in an excellent position for fur-
ther profitable growth in the attractive
specialty additives market.”
“We are well prepared to ensure a
smooth business transition and a suc-
cessful integration. To this end, we have
worked intensively with Air Products
over the past few months to develop in-
tegration plans,” confirmed Ralph Sven
Kaufmann, chief operating officer and
Executive Board member responsible for
the integration.
The annual synergy effects in the
amount of $80 million can be confirmed
at this time and should be fully realized
by 2020 at the latest. Evonik expects to
leverage synergies in the amount of € 10
to 20 million in the year 2017.
The acquisition is expected to increase
the adjusted earnings per share (EPS) of
Evonik in the 2017 business year.
Since the transaction is partly struc-
tured as an asset deal, it will lead to tax
benefits as a consequence of write-offs
which are typical for transactions of this
nature. These benefits amount to a net
present value of more than $500 million,
which can be used on a prorated basis in
the 2017 business year.
The Specialty & Coating Additives
business of Air Products is the Performance
Materials Division within the Materials
Technologies Segment of Air Products
and Chemicals, Inc. It has approximately
1, 100 employees at 11 production and
development locations and offers local
customer support in all key global regions.
Hexion Plans to Construct
European Technology
Center in Germany
Hexion has announced plans to build
a new European technology center in
Kamp-Lintfort, Germany. The new facility will consolidate activities from several
research and development facilities located in nearby Duisburg.
The facility will be located at the
Dieprahm Technology Park and includes
an existing 1,400 square meter ( 15,000
square feet) building housing office and
warehouse space, adjacent to which will
be built a 1,600 square meter ( 17,200
square feet) new laboratory facility.
The new facility will house research
and development activities including the
Transportation Research and Application
Center (TRAC), which develops technology
solutions to enable growth of composites
for the automotive industry. The Kamp-Lintfort facility will also increase Hexion’s
process technology research and improve
formulation development capabilities for
coatings, civil engineering, aerospace composites and electrical casting applications.
This new facility will complement Hexion’s
high-tech lab dedicated to wind energy applications in Esslingen Germany, which is
housed within a high-capacity specialty epoxy resin blending facility.
Modifications to the existing building
and initial construction on the new facility are expected to begin immediately. The
company plans to complete the project
in mid-2018. The new site at Dieprahm
Technology Park is approximately 15
miles ( 24.2 km) from Hexion’s existing
facility in Duisburg.
