Energy businesses of Eastman’s
Additives & Functional
Products segment.
“This acquisition demonstrates our commitment to the growing
markets of home and personal care, water treatment, and energy, in Asia and
our global customers. We believe 100
percent ownership of TALT will allow
us to work more closely with customers by leveraging our global presence
and regional footprint to further innovate and differentiate in these markets,” said Christian Derbez, regional
business director, Asia, Additives &
Functional Products.
The acquisition is expected to close in
the first quarter 2017. Terms of the transaction were not disclosed.
CenterOak Partners
Acquires Aakash Chemicals
CenterOak Partners LLC, a Dallas-based
private equity firm, announced that it
has completed a majority investment in
Aakash Chemicals and Dye-Stuffs, Inc.,
Glendale Heights, Illinois, USA.
Aakash Chemicals manufactures
colorants, additives and other specialty chemicals. Terms of the transaction
were not disclosed. Aakash Shah, who
will retain significant equity interest in
the company, will remain in his current
role as CEO.
Aakash Chemicals was founded in
1978 and has developed a strong position within the North American specialty
chemical distribution industry. The company supplies customers with a variety
of specialty items, focusing on technical
products for the plastics, coatings and
graphic arts end markets.
“Aakash Chemicals represents a
compelling opportunity to partner
with a strong management team in the
large and highly fragmented specialty
chemical distribution industry,” said
Randall Fojtasek, managing partner of
CenterOak. “The CenterOak team has
significant expertise in the distribution
and chemicals space, as demonstrated by
our proven track record.”
“CenterOak’s investment facilitates
an ownership transition for our fam-
ily members and provides capital to
expand operations and enter new mar-
kets,” Shah said.
CenterOak Partners invested in the
company with capital from its $420 million CenterOak Equity Fund I, L.P.
Pilot Chemical Company
Achieves Responsible Care
Certification
Pilot Chemical Company has earned
its certification under the American
Chemistry Council (ACC) Responsible
Care program demonstrating the company’s commitment to the highest standards
of health, safety, security and environmental performance for both its products
and operations.
“Responsible Care has always been
at the heart of Pilot Chemical. This cer-
tification proves our longstanding daily
commitment to ethical, safe, secure and
environmentally sound practices that
protect our employees, customers and
the communities where we live and
work,” said Mike Scott, president of Pilot
Chemical. “I am very proud of our lead-
ership’s dedication and our commitment
to continuous improvement.”
Responsible Care is a voluntary en-
vironmental, health, safety and securi-
ty initiative led by the ACC. Chemical
companies interested in earning certi-
fication, pledge to operate their busi-
ness according to the Responsible
Care Guiding Principles and undergo
a mandatory re-certification every
three years by an accredited, third-
party auditor.
Pilot Chemical participated in a comprehensive review that included environmental management, safety procedures,
regulatory compliance, product safety,
security measures, emergency response
plans and community outreach. The audit was conducted by Lloyd’s Register
Quality Assurance (LRQA).
“Responsible Care is the chemical
industry’s commitment to a more sus-
tainable future,” said Debra Phillips,
vice president of Responsible Care and
Value Chain Outreach at ACC. “ACC
congratulates Pilot Chemical on fulfill-
ing the requirements to be certified under
Responsible Care and for its leadership in
demonstrating significant achievements
in environment, health, safety and secu-
rity performance.”
This will add to Pilot Chemical’s
Product Stewardship Program, includ-
ing its membership to ChemStewards,
a requirement for SOCMA (Society of
Chemical M & Affiliates).
Altana Acquires PolyAd
Services
The specialty chemicals company Altana
has acquired the U.S. company PolyAd
Services, a leading developer and manufacturer of additive solutions for the global plastics market. PolyAd Services will
be integrated into the Plastics Additives
business line of Altana Group’s largest division BYK Additives & Instruments.
“With the acquisition of PolyAd
Services, we are creating additional
value in a targeted manner and at the
same time strengthening our innovative capabilities,” said Dr. Christoph
Schlünken, Member of the Altana
Management Board.
PolyAd Services offers additive solutions for a broad spectrum of plastics
applications in a number of industries,
including the automotive, construction,
packaging and electronic sectors.
“With the acquisition, we are systematically expanding our product portfolio
and application spectrum in the field of
plastics additives even more following
the recent purchase of the Dutch additive manufacturer Addcomp,” explained
Dr. Stephan Glander, president of BYK
Additives & Instruments.
“We very much look forward to our
joint future with BYK, which will enable
us to fully exploit our company’s potential in the plastics additives market,” said
Mike Modak, CEO of PolyAd Services.
The additive solutions of PolyAd
Services not only improve plastics properties, but also customers’ manufacturing
processes. With tailor-made additive solutions from PolyAd Services, customers
can, for example, improve the thermal
stability of their products in the automotive sector. Headquartered in St. Louis,
Missouri, USA, which is also the site of
its development and production facilities,
PolyAd services has two operating companies in the USA and Germany. CW
