Solvay and Anthea join forces to better serve Fragrance, Agrochemical & Pharma customers with catechol derivatives
Lyon, FRANCE & Mangalore, INDIA, Dec. 3, 2019 - Solvay, a world-leading producer of flavour and fragrance ingredients, and Anthea, a leading manufacturer of specialty chemicals in India, have recently concluded an agreement to establish a Joint Venture named CATàSYNTH Speciality Chemicals, dedicated to the production of catechol derivatives.
Through this Joint Venture, the two companies will work together to meet customers’ needs for additional, reliable supply for a range of products including methylenedioxybenzene, heliotropin (piperonal) and helional which are key ingredients for applications in the Flavour, Fragrance, Agrochemical & Pharma industries worldwide.
CATàSYNTH is currently completing a brand-new, world-class manufacturing facility in Mangalore, India which will be fully operational in Q1 2020.
“We have been producing synthetic heliotropin for the Flavours & Fragrances market since 2010 in Crown Chemicals, based on our patented manufacturing processes. Through this partnership with Solvay, we are significantly expanding our production capacities of methylenedioxybenzene and heliotropin, and also enlarging our product range to address other derivatives for the Agrochemical and Pharma market,” says Dr. Vincent Paul, Founder & Chairman of the Anthea Group.
“This partnership is fully aligned with our strategy to reinforce downstream integration. Solvay is committed to continue enlarging its product offer for the Flavour, Fragrance, Agrochemical & Pharma markets whilst ensuring excellent quality and security of supply,” affirms Peter Browning, President of Solvay Aroma Performance GBU.
The closing of the deal is expected to occur early Q1 2020.
Solvay is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 24,500 employees in 61 countries. Net sales were €10.3 billion in 2018, with 90% from activities where Solvay ranks among the world's top 3 leaders, resulting in an EBITDA margin of 22%. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris Bloomberg: SOLB.BB - Reuters: SOLB.BR), and in the United States its shares (SOLVY) are traded through a level-1 ADR program. Financial figures take into account the planned divestment of Polyamides.
Solvay Aroma Performance is a global leading producer of diphenols, and the world’s largest integrated producer of vanillin for food, flavors & fragrances industries. Aroma Performance also produces a wide range of synthetic intermediates, used in monomers and polymers, pharmaceuticals, agrochemicals and electronics markets. Aroma Performance Global business unit owns manufacturing plants and sales offices on 3 continents.
Established in 1991, the Anthea group of companies is a leading manufacturer of specialty chemicals based in India. The Anthea Group today comprises four companies, including DRT-Anthea Aroma Chemicals Private Limited - 50:50 JV with DRT (France), and Catàsynth Speciality Chemicals Private Limited. In 2016, ICICI Venture Funds Management Company, a wholly-owned subsidiary of ICICI Bank and one of India’s oldest and largest Private Equity funds, has invested in Anthea to take a
significant minority stake, and partner in the future growth of Anthea.