Innovation you can build on™
Innovation you can build on™
Croda International Plc, who create, make and sell speciality chemicals for some of the biggest, most successful brands in the world, today announced that it has acquired Nautilus Biosciences Canada Inc (‘Nautilus’), a technology-rich marine biotechnology company based in Charlottetown, Prince Edward Island, Canada.
Nautilus was founded in 2007 by Professor Russell Kerr and, together with its world class scientists, focuses on using marine microbial biodiversity to discover novel actives and materials. Through this acquisition and the associated patents, Croda will utilise this innovative science for applications across all its market sectors.
Croda and Nautilus already have a proven history of successful collaboration, having worked closely together for the past six years developing specific applications for skin care and hair care, as well as crop care. Croda intends to establish Nautilus as a Croda Centre of Innovation for Marine Biotechnology at Nautilus’ existing base at the University of Prince Edward Island. This location is ideal for biotechnology research and has already attracted and facilitated partnerships with many other biotechnology-based companies. Nautilus has exclusive global access to the Marine Microbial Library which is based at the University of Prince Edward Island.
Steve Foots, Chief Executive of Croda, said: “This is another clear example of how sustainable innovation is underpinning our growth plans. With Nautilus as part of the Croda Group, we further expand our expertise in biotechnology; the Nautilus team that will join us have extensive knowledge and expertise in marine biotechnology, also known as “blue biotechnology”. We will be able to bring new, patented products to market, alongside our already well-known green and white biotechnology ingredients, giving us the full spectrum of capabilities within this field of science.”
Professor Russell Kerr, Founder of Nautilus, said: “We have enjoyed a very positive and collaborative relationship with both Croda and the University of Prince Edward Island for a number of years and have always been impressed with Croda’s drive to develop the opportunities from marine biotechnology. Becoming part of the Croda group will provide Nautilus the resources and support to establish a key centre for the research and development of marine-derived natural products, as well as providing Croda new products for commercial success.”
Alaa Abd-El-Aziz President and Vice-Chancellor of The University of Prince Edward Island, said: “We are delighted that a technology rich enterprise coming from the University will become part of an internationally recognised company like Croda, and that their excellent work researching marine microbial microbiology will continue to develop and have commercial realisation. We look forward to future opportunities for partnership and collaboration with both Nautilus and Croda.”
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Croda International Plc (‘Croda’), the name behind high performance ingredients and technologies that are relied on by industries and consumers everywhere, has today announced their investment in the multi-award winning company Cutitronics, who has developed a novel digital solution to meet the demands of personal care consumers.
In response to growing demand for more personalised skin care treatments, Croda recognised the need to look for new innovative technologies, which has led to their minority shareholding in Cutitronics whose patented handheld device assesses skin health and prepares it for the optimum delivery of the skin care formulation it dispatches.
Established in 2014 as a spin-out company at the University of Strathclyde in Scotland, Cutitronics device, CutiTron™, which is in prototype at present, offers bespoke product application for the specific target area of the skin as it analyses its condition while taking into consideration other aspects such as environmental conditions. In doing so, it also captures a far greater amount of data than ever before that Croda can use for future product development due to the better understanding of consumers’ personal care regimes and the factors that influence these.
Croda has an exclusive commercial arrangement with Cutitronics. This relationship is a direct result of Croda’s commitment to their open innovation programme with UK universities. This remains a key strategic focus for Croda and the Company is confident of further investment in this area.
Sandra Breene, President of Personal Care & North America at Croda, will join the Cutitronics Board as a part time Non-Executive Officer to share over 25 years of insight into the global personal care market, and to give the team access to Croda’s formulation expertise and proven history of bringing innovations to market.
Breene said: “I am delighted to be personally involved in this partnership, which will not only allow us at Croda to be part of this intelligent application platform, but it will also enable us to utilise the very latest digital technology to gain greater insight of consumer behaviour using the data the device records.
“We have long known that digitalisation will play a key role in our growth strategy, and with this wealth of information, we can continue to develop innovative and sustainable ingredients, provide better formulation support and share our knowledge with our customers as they strive to deliver the next generation of products to satisfy unmet market needs.”
Dr David Heath, Founder and Chief Executive Officer of Cutitronics said: “Having validated CutiTron™ both technically and commercially, Croda’s support will allow us to bring our technology to market. Their longstanding reputation in delivering innovative solutions to the personal care industry is invaluable to us and we are very excited to be working together with such a responsive and forward looking company.”
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Croda International Plc (‘Croda’), who make, create and sell innovative and sustainable speciality chemicals has today announced its acquisition of Enza Biotech AB, a research enterprise established as a spin-out company from Lund University in Sweden.
Enza Biotech was founded in 2012 by researchers at Lund University with the aim to develop the next generation of renewable surfactants using carbohydrate-based chemistry. Through this acquisition, Enza Biotech’s patented technology will enhance Croda’s well-established natural and renewable product portfolio to offer their customers, particularly in the Personal Care, Crop Care and Health Care markets, the sustainable ingredients they are looking for to satisfy the demands of consumers.
Croda will also gain the expertise of Enza co-founders Maria Andersson and Stefan Ulvenlund, and their team, as they become full time employees to lead the commercialisation of their work using Croda’s technical and formulation expertise, global operational footprint and sales force and track record at bringing new technologies to market.
This acquisition demonstrates Croda’s commitment to delivering sustainable solutions without compromising on product performance as this novel range of surfactants has been proven to offer differentiated performance benefits across many applications, such as emulsification, wetting and dispersion.
Steve Foots, Chief Executive of Croda, said: “Enza Biotech offers a fantastic opportunity for us to fill an identified technology gap in the surfactants market using natural and renewable raw materials. It is a great fit as sustainability underpins our growth strategy and is an area that already sets us apart in the eyes of our customers.”
Maria Andersson, Chief Executive Officer and co-founder of Enza Biotech said: “Croda is the perfect fit for our technology due to their commitment to investing in innovative and sustainable solutions. With their proven track record in bringing new technologies to market and strong customer relationships, we are confident Enza Biotech will have a bright future. We look forward to working with the Croda team and the new opportunities that will bring.”
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Further information:
Jen Ward
Corporate Communications Coordinator
01405 864832
About Croda:
Established in 1925, Croda is the name behind high performance ingredients and technologies in some of the world’s biggest and most successful brands: creating, making and selling speciality chemicals that are relied on by industries and consumers everywhere.
They have a network of over 4,200 passionate and committed employees, working together as one global team across manufacturing sites and offices in 36 countries. Croda is a FTSE100 company with a flexible structure that allows them to focus on developing and delivering innovative, sustainable ingredients that their customers can build on in: Coatings and Polymers, Crop Care, Geo Technologies, Health Care, Home Care, Industrial Chemicals, Lubricants, Personal Care and Polymer Additives.
About Enza Biotech:
Enza Biotech was founded in 2012 as a private spin-off company based on the results of a research programme coordinated by Lund University. A small, but highly innovative company, they combine insight into industrial challenges with a molecular understanding and knowledge of biotechnology based production methods.
The collaboration between biotechnology researchers and material scientists resulted in the design of a production process for a completely novel type of surfactant that meets the needs of many different markets.
Croda International Plc, a speciality chemical manufacturer behind some of the biggest, most successful brands in the world today announces that it has agreed to acquire Incotec Group BV, an independent innovative seed enhancement business headquartered in The Netherlands, for a total consideration, inclusive of debt, of €155 million (£109m). The acquisition is expected to complete on 4 December 2015.
Operating in one of the fastest growing segments within the crop care market, Incotec has developed and supplied a wide range of proprietary and sustainable technologies for both vegetable seeds and field crops since 1968. Their products and services help to enhance and improve seed performance, allowing greater efficacy and functionality to be delivered directly by the seed to increase farming yields to feed the world’s growing population.
Seed enhancement has been identified as a key market opportunity for Croda’s Crop Care business. Through this acquisition, a broader, more innovative portfolio of products will be available to customers through an enlarged and enriched global research and technical capability and a dedicated global sales force. Supported by further investment from Croda, the Incotec business will retain its independent identity and strong brand in offering priming, disinfecting, film coating, encrusting and pelleting expertise and providing analytical quality testing.
Steve Foots, Chief Executive of Croda, said: “Incotec is a rare asset in a niche, high value, fast growing sector of the global crop market. With an experienced research and development led management team, Incotec brings differentiated market leading technologies, world class innovation and strong customer relationships. The combination with our own Crop Care business creates a strong and unique platform for future growth. We believe that our combined innovation strengths, together with our global sales reach, will enable us to be far more responsive in meeting the unmet needs of our customers today and tomorrow.”
Douwe Zijp, Chief Executive of Incotec Group, said: “We started to look for a new partner and shareholder earlier this year and are extremely happy to have found the right partner in Croda. Together, we will continue to focus on the empowerment and encouragement of innovation, sustainability and customer intimacy. We are excited about our joint future and being part of the Croda Group.”
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For more information, please contact:
Jez Maiden, Group Finance Director Tel: +44 1405 860551
Conleth Campbell, VP Investor Relations Tel: +44 1405 860551
Charlie Armitstead, Pendomer Communications Tel: +44 7703 330 269
About Incotec:
Incotec is a leading player in the field of seed enhancement worldwide servicing multinational and local seed producers. Incotec adds value to the seed and crop protection industry value chain by providing a range of technologies and services for seed coating, pelleting, seed enhancement and analytical services for genetic analysis and quality inspection. Incotec has a long track record as an innovative leader in the industry, supported by a highly qualified research and development team dedicated to seed enhancement and related technologies.
www.incotec.com
August 2014
Global speciality chemical manufacturer Croda, announces the acquisition of JD Horizons Limited, a UK based business specialising in ‘Solutions for Flow Assurance’ technology.
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About Croda
Founded in 1925 Croda has developed its position as a leading speciality chemical company producing an unrivalled range of naturally derived products for industry. From personal care to polymer additives, home care to health care, lubricants to crop care, oil and gas to water treatment, Croda technologies is at the heart of the finished products.
About Croda Oil & Gas
Croda Oil & Gas is a global business offering speciality additives into a wide range of applications, providing innovative chemistries to meet the requirements of the field in drilling, completion, stimulation, production and refining applications.
About JD Horizons
JD Horizons was founded in 1999 by Dr Jack Dunlop as a new business venture in speciality chemicals for international oil industry markets. Today JD Horizons primary business activity is centred on the development and marketing of proprietary additive technology for oil industry markets, particularly oilfield chemicals and flow assurance applications, marketed under the FlowSolve trademark.
April 2014
Croda’s Coatings & Polymers business and Technology Investment Group are pleased to announce the acquisition of AM Coatings (AMC), completed on 3rd April 2014. AMC have researched and developed novel non-leaching antimicrobial technology for coating and adhesive applications. Croda plans to commercialise and exploit this technology firstly to C&P customers and potentially, in the future, into other business sectors.
Antimicrobial coatings are estimated to be worth $1.5bn and are growing at 9% CAGR globally, with the majority of business in USA, Europe and North Asia. They are one of the key ‘functional coating’ trends being observed in the marketplace and the AMC technology is expected to allow Croda to develop a leading position in this field.
29 July 2013
Croda International Plc (“Croda” or “the Group”) announces that it has received Chinese regulatory approval to acquire a 65% equity interest in Sichuan Sipo Chemical Co. Ltd (“Sipo”), a non-listed natural speciality chemicals manufacturer based in Mianyang City, Sichuan Province, China. Completion of the transaction is subject to customary closing conditions which are expected to be fulfilled within the next few weeks.
The majority stake will be acquired from Sichuan Forever Holding Co. Ltd and certain individual shareholders for a total consideration of £38.2m*, including £8.0m* of debt, subject to working capital, net cash and fixed asset adjustments. Sichuan Forever Holding Co. Ltd will continue as the minority shareholder retaining a 35% equity interest in Sipo.
Sipo was established in 1993 and has approximately 300 employees. Sipo makes speciality derivatives from natural raw materials and its products include primary amides, novel fatty acids and speciality esters. In 2012 the business reported a turnover of £28.0m and EBITDA of £3.1m. A state of the art, well invested production facility, custom built in 2011, will provide additional capacity from the outset and increase Croda’s proximity to customers in the region, strengthening its existing operations across China and the Group’s overall position in Asia. Sipo will also consolidate Croda’s global leadership in fatty acid amides and add new technology that will enable the Group to expand its portfolio across a number of its core markets.
Apart from a small number of by-products, all of Sipo’s products will be sold through the Croda global sales network. Croda’s initial focus is to grow sales from its Performance Technologies business to the Polymer Additives and Lubricants sectors, with further opportunities in new markets expected to follow in due course.
Steve Foots, Chief Executive of Croda, commented:
“This is a significant step forward in our strategy to increase Croda’s presence in fast growing and emerging markets. Sipo’s manufacturing capabilities together with our marketing expertise and sales force infrastructure are an exciting combination. We will have a stronger platform in niche markets and renewable technologies which will allow us to develop our customer base and drive sales growth in Asia. Our broader footprint in China will also enable us to be more responsive to customer needs in this important region.”
For further information please contact:
Steve Foots, Group Chief Executive Tel: 01405 860 551
Sean Christie, Group Finance Director
Charles Armitstead / Rosie Oddy, Pendomer Communications Tel: 020 3603 5224
*purchase consideration of RMB361.6m and debt of RMB75.6m at an estimated exchange rate of RMB9.45/£.-
24 May 2013
Naturally derived polyamides expand Croda’s broad portfolio of effects 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.
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. For further information please contact:
Keith Layden, Chief Technology Officer
Tel: 01405 860 551
Sean Christie, Group Finance Director
Charles Armitstead / Rosie Oddy, Pendomer Communications
Tel: 020 3603 5224
December 2012
I am pleased to announce that Croda has acquired the assets of Innovachem, LLC of Cutchogue, NY for a total consideration of $2.8m.
The acquisition was finalised on 20 December, 2012. During the first half of 2013, Croda will transition the products offered by Innovachem, and formerly sold through third party distribution, into its portfolio. As there are no manufacturing assets associated with the sale, all products will be manufactured at our existing sites in the US. For further information please contact:
Keith Layden, Chief Technology Officer
Tel: 01405 860 551
Sean Christie, Group Finance Director
Charles Armitstead / Rosie Oddy, Pendomer Communications
Tel: 020 3603 5224
July 2012
We have acquired Istituto Di Ricerche Biotechnologiche (IRB), the global leader in plant cell culture biotechnology, for a total consideration of €7.5m. Formed in 1999 in Vicenza, Italy, IRB entered the market in 2009 after 10 years of pioneering research and had a turnover of €1.3m in 2011. It has 19 employees, including 9 in Research & Development.
The business will be integrated within our existing Sederma skin care actives business. As part of Croda, IRB will also have access to the Group’s unrivalled global sales and marketing network to maximise the potential of this exciting new technology. This acquisition provides Croda with leading edge technology and additional R&D capability in a fast growing market. For further information please contact:
Keith Layden, Chief Technology Officer
Tel: 01405 860 551
Sean Christie, Group Finance Director
Charles Armitstead / Rosie Oddy, Pendomer Communications
Tel: 020 3603 5224