Croda Reviews PTIC businesses
Croda International has announced it is undertaking a strategic review of its Performance Technologies and Industrial Chemicals (PTIC) businesses. The primary aim, said the UK specialty chemicals company, will be to establish what type of ownership structure best serves the businesses going forward and create a stronger platform for its future growth.
The review expected to conclude by the end of 2021 is consistent with Croda’s prioritization of investments in faster-growth life science and consumer markets, which now represent over 80% of the group’s profitability, the company said. Its focus will be on the businesses and activities within PTIC that do not directly support the consumer care and life sciences sectors and will consider whether their full potential can be achieved under Croda, as a standalone business, or through a full or partial divestment.
PTIC’s manufacturing assets include facilities in the UK, The Netherlands, and China. The business focuses on fast-growth markets in the circular plastic economy, electric vehicles and other renewable technologies, supporting the division’s leading market positions in automotive, polymer and food packaging applications.
Author: Elaine Burridge, Freelance Journalist
