Displaying items by tag: Brenntag

Brenntag, the global market leader in chemicals and ingredients distribution, has just announced a multi-year project with Amazon Web Services (AWS), an Amazon.com company (NASDAQ: AMZN). AWS will enable Brenntag to accelerate the integration of digital processes and services and unlock the value from its data. In a fast-paced and complex world, customers and supply partners want simple yet personalized interactions to work efficiently and pivot quickly when needed. Brenntag’s global supply chain network provides proprietary data and insights that enable the company to deliver more value to its customers and supply partners. With AWS, Brenntag can provide systems and data processing across a variety of systems while also ramping up internal capabilities to facilitate an agile modular deployment of systems, automation solutions and services.

brenntag logo“We are excited to work with AWS,” said Ewout van Jarwaarde, Chief Transformation Officer at Brenntag. “At Brenntag we put our customers and supply partners at the heart of what we do every day to ensure we are the easiest to do business with. Ensuring seamless interconnection of data and data-as-a-service for our customers and supply partners across the globe, and across a variety of platforms and systems in a fast and secure way, will allow us to ultimately serve our partners more efficiently. AWS is supporting our transformation through trainings, services and provides a holistic integration of data streams.”

The support and training provided by AWS during specially dedicated cloud immersion days will provide consistency for scalability and the broad integration of interconnected platforms globally. This will make internal and external data connections faster, smoother, and more secure.

This training will take place across several Brenntag locations to Brenntag employees and will support the company’ digital transformation by providing best-in-class cloud infrastructure to enable a hub-and-spoke system of data connectivity.

Over the coming years, Brenntag will utilize AWS infrastructure and support to implement a variety of best practice solutions, such as a multi-modal track and trace program for customer and supply partner orders.

About Brenntag:

Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of about 700 sites in 78 countries. In 2021, Brenntag generated sales of around 14.4 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed at the Frankfurt Stock Exchange since 2010, initially in the MDAX and since September 2021 in the DAX. In addition, the Brenntag SE shares are listed in the DAX 50 ESG and DAX ESG Target. For more information, visit www.brenntag.com

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Brenntag (ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, have just announced the acquisition of the Life Science and Coatings business from Ravenswood, a specialties distributor in Australia and New Zealand with a strong expertise in blending.

Henri Nejade, Member of the Management Board of Brenntag Group and COO Brenntag Specialties: “Brenntag Specialties customers rely on us to provide solutions and services to very specific needs on a global and regional scale. For us, expanding our operations with the capabilities from Ravenswood in Australia and New Zealand and beyond, especially with the expertise in blending, will be a great addition for our customers in the APAC region.”

2022 03 15 095027Founded in 1978, the company is headquartered in Bayswater, Australia, and operates two sites in Australia. Ravenswood serves a broad range of customers in the region.

Glenn Fox, General Manager of Ravenswood, comments: “Joining Brenntag, the world’s leading specialties distributor, is a great expansion of our business opportunities and a natural next step we are excited to take in our growth.”

Gust Desmedt, Senior Vice President Corporate Strategy and M&A for Brenntag, highlights: “The acquisition represents a great opportunity to expand our footprint in Australia and New Zealand. It also aligns with our Nutrition strategy and our aspirations to grow our services portfolio by offering additional capabilities in blending to our customers.”

The acquired business generated sales of approximately AUD 65 million in the financial year 2022 (ending June 30). Closing of the transaction is expected in December.

About Brenntag:

Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of about 700 sites in 78 countries. In 2021, Brenntag generated sales of around 14.4 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed at the Frankfurt Stock Exchange since 2010, initially in the MDAX and since September 2021 in the DAX. In addition, the Brenntag SE shares are listed in the DAX 50 ESG and DAX ESG Target. For more information, visit www.brenntag.com 

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Brenntag the global market leader in chemicals and ingredients distribution, has just announced the acquisition of Tech Management (dba), a leading solutions provider for proprietary formulations and on-site services directly to operators in the energy sector in the Permian Basin. This is the largest energy producing region in North America, fostering Brenntag’s resilience in this market against the background of shifts on the global energy market and will accelerate the creation of a dedicated energy service platform.

2019 02 14 091034Steven Terwindt, Member of the Management Board of Brenntag Group and COO Brenntag Essentials: “I look forward to welcoming our new colleagues from Tech Management (dba) to the Brenntag family. The company’s formulation expertise and state of the art laboratory facilities are a welcome addition to Brenntag’s Energy Services business in North America, providing a further pillar to our resilient market offerings in the energy sector and filling a vital support role in a region critical to global energy security.”

Founded as Hughes Chemical in 2009, Globe Chemical, LLC d/b/a Tech Management has its headquarters and blending facility located in Odessa, TX, with ten additional operating facilities in West Texas, New Mexico and Oklahoma.

Scott Leibowitz, Regional President Brenntag Essentials highlights: “The acquisition represents a strategic opportunity to complement our leadership position in the US while helping our customers produce energy in an efficient and safe manner. Tech Management’s research and support colleagues will provide another center of excellence for innovation for Brenntag.”

The acquired business had sales of USD 85 million in the financial year 2021. Signing and closing of the transaction took place simultaneously. 

About Brenntag:

Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of about 700 sites in 78 countries. In 2021, Brenntag generated sales of around 14.4 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed at the Frankfurt Stock Exchange since 2010, initially in the MDAX and since September 2021 in the DAX. In addition, the Brenntag SE shares are listed in the DAX 50 ESG and DAX ESG Target. For more information, visit www.brenntag.com.

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Brenntag, the global market leader in chemicals and ingredient distribution, has just announced an exclusive partnership with INOFEA to promote the pharmaceutical applications of its enzyme technology in EMEA.

As part of the exclusive partnership, Brenntag and INOFEA will provide support and services to enable customers to get the most out of INOFEA’s technology in their applications, such as protecting and enhancing the performance of their enzymes. Brenntag will leverage its global reach to promote INOFEA’s products and services within the pharmaceutical industry, including the manufacturers of APIs, biosimilars, intermediates, diagnostics and medical devices.

brenntag logoINOFEA has developed the enzzen® technology, enhancing enzyme stability, enabling recyclability and easy recovery in manufacturing steps. Enzymes earn a broader substrate range and achieve extraordinary reactivity by enhancing reaction rate and selectivity. Thus, customers need less raw materials for synthesis, less energy during the production process and can benefit from lower waste production and solvents used in biocatalytic processes.

“Working with INOFEA we are able to offer our pharmaceutical customers an innovative solution that can fulfil important sustainability requirements for future production processes,” comments Joakim Volke, President of Pharma EMEA. “Brenntag Specialties is excited to expand our service offerings with the enzzen®-enzymes, which is becoming part of our Green Alternatives Portfolio.”

Anne Timm, CEO of INOFEA: “We found an ideal partner in Brenntag to promote our technology to the pharma market in EMEA. As a company providing highly innovative solutions it is a big challenge to have our technology properly marketed and promoted within such a big and diversified market. We are sure Brenntag's huge and technically proficient resources will turn our potential into high-level opportunities, and this is only the first step of a very long-term and mutually profitable partnership.”

About INOFEA:

INOFEA, a biotech enterprise founded in Switzerland in 2014, is an enzyme-performance-improving company enabling sustainable manufacturing processes going hand in hand with a reduction of waste, pollution, and material consumption. INOFEA unfolds the potential of enzymes in biocatalysis and medical applications. The offerings include, among other activities, customized development of enzymes with superior properties focusing on the growing importance of defossilization in Life-Science industries. INOFEA enables the industry to make production of APIs economically and environmentally more sustainable, by reducing the number of intermediates versus chemical synthesis resulting in less waste, energy consumption and purification steps. The company has supply and licensing agreements in place and invests further into biocatalysis enabling customers reaching their ambitious sustainability goals.

About Brenntag:

Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of about 700 sites in 78 countries. In 2021, Brenntag generated sales of around 14.4 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed at the Frankfurt Stock Exchange since 2010, initially in the MDAX and since September 2021 in the DAX. In addition, the Brenntag SE shares are listed in the DAX 50 ESG and DAX ESG Target. For more information, visit  www.brenntag.com 

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Brenntag, the global market leader in chemicals and ingredients distribution, has become the exclusive distributor of Tolsa’s Functional Additives Business in the United States and Canada.

The product portfolio includes ADINS® Flame Retardancy, ADINS® Clean, ADINS® Protection and can be utilized in the Coatings & Construction, Polymers, Rubber, and Wire and Cable industries.

2022 07 25 123006“We are excited to announce the expansion of our relationship with the Functional Additives division of Tolsa in North America,” stated Stephen Regular, Senior Director, Industry Market Management, Material Science, Brenntag North America.  “This unique chemistry, combined with both Tolsa and Brenntag’s technical support teams will enhance our already extensive portfolio and further solidify our position as the preferred chemical distributor for our customers.”

ADINS® is a patented technology based on natural silicates that provides new functionalities to materials and reinforces specific properties in organic and inorganic systems.

  • ADINS® Flame Retardancy, synergist additives for Halogen and Halogen-Free systems, can be combined with the main polymeric systems including thermoplastics and thermosets, boosting the performance of Flame Retardants.  Some of the benefits include reduction of flame propagation, smoke suppression, and reduction of the heat release.
  • ADINS® Clean, photocatalytic additives, is used for self-cleaning and decontamination functionalities. It is designed for paints, coatings, and cementitious systems.
  • ADINS® Protection, antimicrobial additives, brings viricide, bactericide, algicide and fungicide protection to plastics, paint and coatings, textiles, and mortars.

“Tolsa Functional Additives is committed to empowering the best distribution partners globally, to all of our customers, in all markets of the world,” said Ms. Almudena Vidal Bea, Functional Additives Business Unit Director at Tolsa. “Based on our ongoing success of working with Brenntag in other regions in the world, this agreement confirms our commitment to our North American customers and partners, to ensure mutual value for all stakeholders.”

About Tolsa:
Tolsa has one of the most extensive and differentiated range of special clays worldwide, offering a broad range of additives and industrial products that provide high added value and improve the performance and efficiency of materials. Tolsa focuses on intelligent production that is modern, efficient, precise, flexible, punctual, safe, and respectful of the environment. Each process is subjected to stringent quality controls and the company is certified under ISO 9000 and ISO 14000. Tolsa has a production capacity of more than 1,2 million tons, and its factories are located near mining operations, or in port areas near end users. Further information at https://www.tolsa.com

About Brenntag:

Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of about 700 sites in 78 countries. In 2021, Brenntag generated sales of around 14.4 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed at the Frankfurt Stock Exchange since 2010, initially in the MDAX and since September 2021 in the DAX. In addition, the Brenntag SE shares are listed in the DAX 50 ESG and DAX ESG Target. For more information, visit www.brenntag.com.

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Brenntag (ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, has expanded its distribution agreement with Elementis Specialties to distribute their specialty chemicals and additives for the coatings, adhesive and sealant industries in India, Nepal, Sri Lanka and the Philippines. 

Brenntag expands distribution agreement with Elementis in Asia Pacific Image: Brenntag Brenntag expands distribution agreement with Elementis in Asia Pacific Image: Brenntag Sanjay Karkhanis, President Materials Science, Brenntag Asia Pacific says: “We are excited to strengthen our strategic partnership with Elementis in these four countries as its products fit well into our existing product portfolios and will enable us to develop more value-adding solutions in coatings systems for our customers in each local market. This continues to build our longstanding partnership with Elementis, with whom we have been working with for more than 15 years in Asia Pacific.”

“Brenntag is our partner in many regions, and we look forward to expanding this relationship to the important markets in India, Nepal, Sri Lanka and the Philippines for all our end-users,” Valerio Cittadini – Director Coatings EMEIA, Elementis Specialties explained. “We are particularly excited about the experienced leadership, strong sales team, technical capabilities, and broad geographical footprint that makes up the Brenntag value proposition.”

This distribution agreement between Brenntag and Elementis will be effective starting April 1, 2022.

About Brenntag:

Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of about 700 sites in 78 countries. In 2021, Brenntag generated sales of around 14.4 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed at the Frankfurt Stock Exchange since 2010, initially in the MDAX and since September 2021 in the DAX. In addition, the Brenntag SE shares are listed in the DAX 50 ESG and DAX ESG Target. For more information, visit www.brenntag.com

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Brenntag (ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, reports outstanding results in the third quarter 2021 in still persisting exceptional market conditions. Both divisions continue to deliver strong results with Brenntag Specialties in particular showing an excellent performance. The company’s transformation program Project Brenntag progresses according to plan and already contributed around 70 million EUR of additional operating EBITDA since the inception of the program.

Christian Kohlpaintner, Chief Executive Officer of Brenntag SE, said: “In the third quarter of 2021, Brenntag achieved outstanding results with both our two global divisions Brenntag Essentials and Brenntag Specialties contributing strongly to this performance. The unusual and challenging market conditions continued in Q3, and we expect to see them persisting well into 2022. To secure availability of products and keeping customers operating remain key priorities for Brenntag in this environment. We want to thank all our employees for their great performance and strong commitment in these special times.” 

brenntag logoIn the third quarter 2021, Brenntag generated sales of 3,738.2 million EUR. Operating gross profit rose by 23.7% to 862.3 million EUR compared to 695.2 million EUR in previous year’s quarter. Operating EBITDA reached  342.9 million EUR, a strong year-on-year increase of 29.7%. Earnings per share totaled 1.02 EUR compared to 0.76 EUR a year ago which is an increase of 34%.

Georg Müller, Chief Financial Officer of Brenntag SE, said: “In the third quarter 2021, Brenntag continued on its successful path. While we achieved strong results in both of our global divisions, we are particularly delighted about the development of our Earnings per Share, which rose strongly by more than 34% to 1.02 EUR compared to 0.76 EUR in the third quarter 2020.” 

Both divisions continue to deliver strong results

In the third quarter, Brenntag Essentials again showed a strong performance. In line with the long-term expectations, Brenntag Specialties grew stronger than Brenntag Essentials and delivered excellent results. 

The Brenntag Essentials division which markets a broad portfolio of process chemicals across a wide range of industries again delivered strong results in  the third quarter 2021. The division reached an operating gross profit of 520.2 million EUR (+19.5%). Operating EBITDA increased by 28.7% to 210.3 million EUR compared to the prior-year period. The EMEA, Latin America and particularly North America regions contributed to this positive performance. The business development in Asia Pacific was severely impacted by renewed and strict COVID-19 lockdowns in countries such as Thailand, Vietnam, and Indonesia, as well as dual control measures in China to reduce specific energy consumption and greenhouse gas emissions.

The Brenntag Specialties division which builds on Brenntag’s position as the largest specialty chemicals distributor worldwide, again delivered excellent results in third quarter 2021. The division achieved an operating gross profit of 334.3 million EUR (+30.1%). Operating EBITDA rose by 42.3% to 152.9 million EUR compared to the previous year’s quarter. These remarkable results are due to a broad-based positive performance across all focus industries. In the Americas region, Brenntag Specialties showed particularly strong results. 

Project Brenntag makes very good progress

The implementation of the comprehensive transformation program Project Brenntag is going according to plan and makes very good progress since the launch of the new operating model in January 2021. Since its inception, Project Brenntag already contributed around 70 million EUR of additional operating EBITDA which is expected to ramp up to 220 million EUR annually by 2023. Additionally, the optimization of Brenntag's global site network is ongoing. Of the around 100 planned site closures, 68 have been completed to date. Furthermore, since the initiation of the program, more than 740 jobs have structurally been reduced out of approximately 1,300 planned over two years in a socially responsible manner. Brenntag is in close dialogue with the works councils in the different countries.

Chief Financial Officer Georg Müller not to extend his mandate

Georg Müller, Brenntag's long-standing Chief Financial Officer, has informed the Supervisory Board that he will not extend his mandate beyond his current term ending March 2022. Georg Müller has been a constant for the company holding various management positions over the last almost 20 years, thereof ten years as CFO. Brenntag is, also thanks to his work, the global market leader in chemicals and ingredients distribution. In particular, he contributed extensively over many years to Brenntag’s financial strength and its excellent reputation in the equity and debt capital markets. The Supervisory Board is currently conducting a structured and thorough succession process.

Outlook confirmed despite critical disruptions in global supply chains

Brenntag confirms its operating EBITDA guidance to be in the range of 1,260 million to 1,320 million EUR for the financial year 2021 (previously: 1,160 million to 1,260 million EUR). The guidance was raised twice this year, and takes into account organic growth, the expected efficiency gains from Project Brenntag, and the contribution to earnings from already closed acquisitions at the time of the guidance increase. It is based on the assumption that exchange rates will remain stable on the level at the time of the guidance upgrade. Brenntag expects the exceptional and challenging market conditions persisting well into 2022.

*Operating gross profit is defined as sales less cost of goods sold.
**Unless indicated otherwise, growth rates are on a constant currency basis.
***Brenntag presents operating EBITDA before holding charges and special items. Holding charges are certain costs charged between holding companies and operating companies. At Group level, these effects net to zero. Brenntag is also adjusting operating EBITDA for income and expenses arising from special items so as to improve comparability in presenting the performance of its business operations over multiple reporting periods and explain it more appropriately. Special items are income and expenses outside ordinary activities that have a special and material effect on the results of operations, such as restructurings.

About Brenntag:

Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of more than 670 sites in 77 countries. In 2020, Brenntag generated sales of around 11.8 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed at the Frankfurt Stock Exchange since 2010, initially in the MDAX and since September 2021 in the DAX. In addition, the Brenntag SE shares are listed in the DAX 50 ESG and DAX ESG Target. For more information, For more information, visit www.brenntag.com

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Brenntag, the global market leader in chemicals and ingredients distribution, forms a distribution agreement with NXTLEVVEL Biochem to expand its growing Household, Industrial, & Institution (HI&I) portfolio in providing sustainable biobased solvents in North America.

This current agreement covers a new product line including the below product names and consists of levulinates and levulinate ketals. These products are all biobased solvents offering high performance and improved safety and sustainability:

  • NXT SOLV 100
  • NXT SOLV 200
  • NXT SOLV 300
  • NXT SOLV 400

Brenntag forms distribution agreement with biobased solvents experts NXTLEVVEL Biochem. Image: BrenntagBrenntag forms distribution agreement with biobased solvents experts NXTLEVVEL Biochem. Image: Brenntag

“We are excited to have the opportunity to bring a new innovative solution to our customers from NXTLEVVEL. Having a sustainable alternative solvent will allow our customers to better meet the increasing consumer demands for sustainable cleaning products,” said Jeffrey M. Carey, Ph.D. Vice President HI&I Americas.

These biobased products can reduce dependence on fossil fuels and play a role in reducing carbon emissions. They are used in applications such as hard surface cleaners, floor cleaners, and laundry detergents.

“I’m very excited that NXTLEVVEL and Brenntag are embarking on a relationship to promote our range of biobased solvents in the HI&I industry by leveraging the strength of our technology along with Brenntag’s market-leading position,” commented Aris de Rijke, CEO of NXTLEVVEL Biochem. “NXTLEVVEL’s technology is highly innovative, proprietary and, for the first time, allows the production of levulinate derivatives at industrial scale. The cornerstone is the patented biomass-derived levulinic acid technology and its esters enabling the affordable production of biobased solvents and other biobased chemicals,” de Rijke notes.

About Brenntag:

Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of more than 670 sites in 77 countries. In 2020, Brenntag generated sales of around 11.8 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed at the Frankfurt Stock Exchange since 2010, initially in the MDAX and since September 2021 in the DAX. In addition, the Brenntag SE shares are listed in the DAX 50 ESG and DAX 50 ESG Target. For more information, visit www.brenntag.com.

About NXTLEVVEL:

A privately held company headquartered in The Netherlands, NXTLEVVEL is a commercial scale manufacturer of next generation biomass-derived chemicals. As a joint venture formed in 2018, NXTLEVVEL brings together the industrial expertise of the Towell Engineering Group (Sultanate of Oman) with advanced technology developed by GFBiochemicals. GFBiochemicals was founded in 2008 and holds 200 patents for its world leading proprietary technology in bio-solvents, polyols, and plasticizers based on levulinic acid. Levulinic acid is considered a key biobased building block that enables the production of an extensive portfolio of derivatives. For more information, visit www.nxtlevvel.com

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Brenntag, the global market leader in chemicals and ingredients distribution, acquires all operating assets and business of Matrix Chemical, LLC (“Matrix”). The company is a solvents distributor and the largest distributor of acetone in North America with sales of around USD 200 million year to date in 2021.

brenntag logoSteven Terwindt, Member of the Management Board of Brenntag SE and COO Brenntag Essentials, comments: “With the acquisition of Matrix we create a highly reliable and competitive logistics network for acetone and solvents in North America that allows us to take advantage of market opportunities and to deliver a variety of core products to our customers more efficiently, economically and in a more sustainable manner. Overall, we expect significant operating synergies by leveraging Matrix’s supplier relationships, logistics network and bulk storage capacity in combination with Brenntag’s existing North American infrastructure and outbound logistics.”

The company distributes acetone and other solvents to customers throughout the United States and Canada. These products are used in various industries such as personal care, adhesives, and the paint and coatings industry. Matrix operates storage tanks at bulk terminals in Houston (Texas), Chicago (Illinois), Vanport (Pennsylvania), and Wilmington (North Carolina).

Anthony Gerace, Managing Director Mergers & Acquisitions at Brenntag SE, on the strategic opportunities of the acquisition: “Matrix and its terminals in the United States perfectly complement our existing network in the region. The acquisition is strategically aligned with our growth strategy in North America as it creates substantial additional acetone capacity in key geographic areas at advantaged barge economics. The combined network will improve our geographic coverage and operating efficiency and allow us to better serve our customer and supply partners alike.”

Closing and signing of the acquisition occurred simultaneously. 

About Brenntag:

Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of more than 670 sites in 77 countries. In 2020, Brenntag generated sales of around 11.8 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares are listed at the Frankfurt Stock Exchange and are included in the MDAX and DAX 50 ESG. For more information, visit www.brenntag.com

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Brenntag, the global market leader in chemicals and ingredients distribution, made further important steps in strengthening its business in China with the closing of two acquisitions within its Specialties division. On July 23, the acquisition of the first tranche (67%) of food ingredients specialist Zhongbai Xingye has been closed. The closing of the second tranche and thus the full acquisition of Zhongbai Xingye is expected to be completed by the end of 2024. In addition, end of June, Brenntag has completed the acquisition of pigments and additives specialist Wellstar Group by acquiring the remaining 49% of shares of the joint venture.

brenntag logoHenri Nejade, Member of the Management Board of Brenntag SE and COO Brenntag Specialties, comments: “Strengthening our Brenntag Specialties division, particularly in China, as well as in the Asia Pacific region in general, is a central pillar of our company’s M&A strategy. I am particularly delighted that we stuck exactly to our timing in both cases and were able to successfully close the important acquisition steps in the dynamic and growing Asian markets as planned.”

The Chinese company Zhongbai Xingye is dedicated to the distribution of a wide range of specialty food ingredients, including dairy products and proteins. The acquisition of the leading player in mainland China is an important step for Brenntag to become a full-line distributor of food ingredients in the Asian market. Closing of the second tranche is expected at the end of 2024. 

The Wellstar Group is headquartered in Hongkong and operates three subsidiaries in Mainland China located in Shenzhen, Guangzhou, and Shanghai. Since Brenntag acquired a majority stake of 51% with a first tranche in August 2017, the business was operated and successfully developed as a joint venture servicing a broad range of industries. With the closing of the second tranche, the Wellstar Group is 100% owned by Brenntag.

About Brenntag:

Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of more than 670 sites in 77 countries. In 2020, Brenntag generated sales of around 11.8 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares are listed at the Frankfurt Stock Exchange and are included in the MDAX and DAX 50 ESG. For more information, visit www.brenntag.com.

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