Two subsidiaries of French industrial gases giant Air Liquide have broken ground on a $60 million plant for cosmetic and pharmaceutical specialty ingredients being built on a greenfield site at Sandston in the US state of Virginia. The new production facility will be operated as a joint venture, Polykon Manufacturing, between the two Air Liquide group companies – healthcare specialty ingredients manufacturer Seppic and hygiene specialist Schülke. It is planned to start up in the first half of 2018 with around 20 employees and will supply the $10 billion global market for specialty personal care ingredients.

With the new facility, Air Liquide said the group will strengthen its proximity to customers in the US, which accounts for about 25% of the global market, while at the same time extending the specialist companies’ innovative potential and enlarging their industrial footprint. Both Seppic and Schülke have a long-time presence in the US. The former is present in more than 100 countries through its affiliates and network of distributors, the latter, which employs more than 900 employees worldwide, is present in 80 countries.

Meanwhile, Air Liquide said it has successfully completed the refinancing of its $13.4 billion acquisition of US rival Airgas through two bond issues and an equity increase. Integration of the new assets is proceeding according to plan, said, CEO Benoît Potier. Globally, the combined gases businesses are expected to generate annual sales of around $22 billion and supply more than over three million customers.