MOSCOW (MRC) -- Evonik has concluded a purchase agreement to acquire Wilshire Technologies Inc., with the transaction to be completed by the end of January, said the company.
Headquartered in Princeton NJ (USA), Wilshire Technologies supplies phytochemicals and derivatives to the global cosmetic and pharmaceutical industries. The new home for the cosmetics part of Wilshire’s product portfolio will be in Evonik’s Care Solutions business line.
The purchase price will not be disclosed. Wilshire Technologies has developed a strong technology which obtains products based on renewable and non-animal-origin sources. Utilizing more sustainable and renewable sources for cosmetic ingredients has become an extremely important criteria that many personal care companies in the market today are aiming for.
This acquisition, which comprises approximately 10 employees, and marks a substantial addition to Evonik’s sustainable cosmetic active ingredients portfolio. Evonik’s Care Solutions business will be able to expand its product range into phytochemicals, such as plant derived cholesterol, as a replacement for animal originated ingredients in cosmetic active ingredients. This move supports the ongoing transformation of Evonik’s cosmetics ingredients portfolio towards sustainability and natural-based ingredients.
Additionally, Evonik’s Health Care business line will also benefit, from an enhanced portfolio for its naturally derived excipients and intermediates for pharma and food applications. With the acquisition of Wilshire Technologies and its innovative products for the cosmetics, pharmaceutical and food ingredients markets, Evonik is strengthening its focus on its “Health & Care” growth engine, established to meet the increasing demands from customers towards the global trend of more bio-based and sustainable products.
As MRC informed earlier, Evonik joined with other manufacturers in the High Phthalates Panel (HPP), a sector group of the American Chemistry Council (ACC), in a voluntary manufacturer request to the US Environmental Protection Agency (EPA) to conduct a broad-based risk evaluation of the uses of DINP. The EPA granted the request in early December 2019, a decision welcomed by Evonik. The EPA’s risk evaluation will be performed using the best available science and weight of scientific evidence. The process will be documented and open for public review and comment.
As per MRC's ScanPlast, Russia's overall production of polyvinyl chloride (PVC) reached 975,000 tonnes in 2019, up by 2% year on year. At the same time, not all Russian producers raised their output. December total production of unmixed PVC was about 81,400 tonnes versus 84,600 tonnes a month earlier, RusVinyl decreased their capacity utilisation in November. Overall PVC production reached 975,000 tonnes in January-December 2019, compared to 958,600 tonnes a year earlier. All plants raised their output, except for Kaustik Volgograd.
Wilshire Technologies was founded in 1997 by former Rutgers professor, Joe San Filippo, who has over 35 years of product development experience in this field. The company’s broad portfolio provides cosmetic and pharma actives that come from natural and renewable sources.
Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world with more than 36,000 employees.