Evonik and Shandong Vland Biotech form JV in China

Evonik and Shandong Vland Biotech form JV in China

Essen, Germany. Evonik China Co., Ltd and Shandong Vland Biotech Co., Ltd agreed to build a joint venture to expand their presence in gut health solutions products for farm animals globally, said the company.

Evonik will be the majority shareholder in this joint venture with 55 percent of the shares. The joint venture, called Evonik Vland Biotech (Shandong) Co., Ltd. will have its headquarters in Binzhou, China, and is planned to enter the market in Q1/2024.

The joint venture will combine the specific strengths of both partners, including Vland's market access, regulatory capabilities in China as well as its fast innovation cycles. In addition, the joint venture will benefit from Evonik’s global sales force and market access, R&D and global regulatory capabilities. Sales of the new joint venture are expected to be in the low double-digit million euro range.

Evonik announced earlier this year that it is developing its specialty nutrition business with system solutions and specialties for poultry, swine and ruminants. The partnership with Vland on gut health solutions is an essential element towards Evonik’s strategy to offer system solutions for its customers in the animal feed industry.

Customized system solutions consisting of products, services and knowhow delivering sustainability benefits are part of the strategic core of Evonik's life science division Nutrition & Care, which includes the Animal Nutrition business line. Biosolutions such as probiotics for animal gut health will strengthen the division’s biotechnology platform.

We remind, Essen, Germany. Evonik has modernized the infrastructure of its Antwerp site to strengthen its business with AgraLi® and blueSulfate®, two by-products of methionine production that are mainly used as fertilizers.

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BASF to build new fermentation plant for crop protection products in Ludwigshafen

BASF to build new fermentation plant for crop protection products in Ludwigshafen

BASF invests a high double-digit million euro amount in a new fermentation plant for biological and biotechnology-based crop protection products at its Ludwigshafen site, said the company.

The plant will manufacture products that bring value to farmers including biological fungicides and biological seed treatment. BASF also plans to utilize the plant to produce the main building block of Inscalis®, a novel insecticide derived from a fungal strain. Commissioning is planned for the second half of 2025. The plant will employ 30 people in production, logistics, engineering and maintenance.

The plant will use microorganisms to convert renewable raw materials such as glucose into the desired products – a process known as fermentation.

“We see a growing demand for biological crop protection products. This investment is an important step in building an even stronger and more competitive portfolio in this area,” said Marko Grozdanovic, Senior Vice President, Global Strategic Marketing at BASF Agricultural Solutions. “In addition, fermentation is a very flexible technology that will allow us to bring more innovative biotechnology-derived products to the market in the future.”

“For production at our Ludwigshafen site, this development is another step in the transition to innovative manufacturing processes with lower energy intensity based on renewable raw materials,” said Christian Aucoin, Senior Vice President, Global Operations at BASF Agricultural Solutions. “The site offers excellent synergies due to its good infrastructure, the integration into an existing high-performance production organization and the proximity of research units such as White Biotechnology.”

We remind, BASF and NEVEON provide hotel with recycled mattresses. Together, the two companies have taken another step forward on their journey toward a circular economy. Using an innovative recycling process developed by BASF, it is now possible to produce polyol on a ton scale that is derived entirely from used mattresses.

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EQUATE announces ICP for October 2023

EQUATE announces ICP for October 2023

Global monoethylene glycol (MEG) producer EQUATE has nominated its October 2023 MEG India Contract Price (ICP) at $503/tonne CFR (cost & freight) India Main Ports, said the company.

The October nomination was $29/tonne higher than the September number.

We remind, EQUATE India Contract Price (ICP) for Monoethylene glycol (MEG) will be US$474/MT CFR India main ports for arrival in September 2023. This ICP reflects the short-term regional supply/demand dynamics.

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MEGlobal announces ACP for November 2023

MEGlobal announces ACP for November 2023

MEGlobal announced that its Asian Contract Price (ACP) for monoethylene glycol (MEG) will be USD830/MT CFR Asian main ports for arrival November 2023, said the company.

The November 2023 ACP reflects the short-term supply/demand situation in the Asian market.

We remind, MEGlobal announced that its Asian Contract Price (ACP) for monoethylene glycol (MEG) will be USD830/MT CFR Asian main ports for arrival October 2023. The October 2023 ACP reflects the short-term supply/demand situation in the Asian market.
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SK Capital Announces the Acquisition of J&K Ingredients

SK Capital Announces the Acquisition of J&K Ingredients

Funds advised by SK Capital Partners, LP (“SK Capital”), a private investment firm focused on the specialty materials, ingredients, and life sciences sectors, announced the signing of an agreement to acquire J&K Ingredients, Inc, said the company.

Currently owned by CORE Industrial Partners (“CORE”), J&K is a market leading manufacturer and supplier of food and beverage ingredients with an emphasis on natural, organic, and clean label products. Terms of the deal were not disclosed. The transaction is expected to close before the end of the year.

Headquartered in Paterson, New Jersey, J&K is recognized as a leading food and beverage ingredient solutions provider, differentiated by its custom formulation and new product development capabilities focused on quality, function, and compliance. Founded in 1899, the Company developed the bakery industry’s first natural mold inhibitor, Bred-Mate, more than four decades ago. In 2019 the Company launched SOR-Mate, the first high efficacy clean label alternative to potassium sorbate with applications across a variety of product categories including bakery, beverages, snacks, pet food, and dairy. The Company also serves the bakery market with a complete suite of specialty ingredients such as egg & milk replacers, emulsions, flavors, and bread bases.

Mario Toukan, Managing Director at SK Capital, said “Under its experienced leadership team which prioritizes compliance, custom solutions, and maximizing value for customers, we believe J&K Ingredients will continue to be the premier supplier of natural preservatives in a constantly evolving market. The Company’s deep expertise and focus on innovation, exemplified by the breakthrough and success of SOR-Mate, not only makes it an essential partner to the bakery market, but opens its doors for customers seeking clean label solutions across the food and beverage industry.”

“As a differentiated provider of high value solutions to its customers, J&K represents a business with which we seek to partner,” said Dan Lory, Principal at SK Capital. “We are excited to leverage our expertise in the food ingredient industry and collaborate with J&K to usher in the next phase of growth, building an attractive ingredients platform driven by a proactive commercial strategy and recognized for its comprehensive offering.”

“SK Capital’s history of success in the food and beverage and broader ingredients industry and its focus on accelerating growth make them an ideal partner for J&K. Most importantly, they share our belief that J&K is uniquely positioned for the long term to capitalize on the industry-wide movement to clean label products and are committed to investing in its growth. We look forward to working together to bring ‘better for you’ products to consumers,” said Ricardo Alvarez, CEO of J&K Ingredients.

We remind, Repsol and Signode have developed a ready-to-use strap for high tenacity applications made of a polypropylene (PP) compound with 30% recycled content. The Spanish petrochemical and the U.S.-based transit-packaging provider claim the solution is a market first.

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