30 January 2012 00:00 [Source: ICB]
CREMER BUYS SASOL FATTY ACID PLANT
Sasol Germany has sold its Witten, Germany, oleochemical production site and associated business to Hamburg-based Cremer Oleo. The Witten facility manufactures mainly fatty acids and derivatives derived from coconut or palm kernel oil feedstock. A Sasol spokesperson said the business had become less of a strategic fit within Sasol's Olefins and Surfactants division. Market sources said they do not anticipate the sale to impact current supply-and-demand dynamics in the European fatty acid market. Sasol continues to produce natural fatty alcohols at its sites in Marl and Brunsbuettel, Germany, as well as at its joint venture in Lianyungang, China.
US 2012 SORBITOL CONTRACTS CLIMB 12%
Annual contracts for 2012 US liquid sorbitol rose by 4 cents/lb, up 12% from 2011, market sources said. Contract prices for liquid sorbitol generally settled in a range of 37-41 cents/lb ($816-904/tonne, €628-696/tonne) DEL (delivered), sources said. Higher-priced crystal sorbitol 2012 contracts increased to a range of 93-103 cents/lb DEL, up 5% from the 2011 range. Higher prices were attributed to higher corn feedstock costs and increased demand for sorbitol as a low-cost filler. Sorbitol often competes with glycerin in several applications.
VANTAGE SPECIALTY CHEMS CHANGES OWNER
US oleochemical producer Vantage Specialty Chemicals has been sold by its former owner H.I.G. Capital to another private equity firm, the Jordan Company, for an undisclosed sum. The Vantage assets are comprised of Uniqema Americas, Lambent Technologies and Lipo Chemicals. Vantage has annual sales of over $500m (€388.3m).
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