31.07.2015 • News • Dede Willams • chemicals • Fine Chemicals & Specialty Chemicals

MWV Specialty Chemicals to be Renamed Ingevity

Ingevity has been selected as the new name for the MWV Specialty Chemicals division of US packaging producer WestRock Company, set to become a standalone company by the end of this year.

The change will become effective on Sept. 1.  The division, which has an operating margin of 23%, manufactures chemicals derived from pine and wood-based activated carbon.

Ed Rose, president of MWV Specialty Chemicals, said the separation is the “first step in a comprehensive plan to launch our brand, and define our future as a separate and independent company that will be better positioned to profitably grow in our targeted markets.”

The spin-off is expected to be executed by means of a tax-free spinoff to shareholders of WestRock, resulting in two independent, publicly traded companies.

“Ingevity is a unique expression of our purpose – to turn our customers’ complex challenges into powerful possibilities,” said Rose.  

 

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