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Evonik Scoops Up American Phytochemical Firm
January 16, 2020
3 Min Read
Evonik is acquiring phytochemical ingredients and intermediates supplier Wilshire Technologies Inc. Image courtesy of Evonik
German specialty chemicals firm Evonik is poised to expand its offerings for the cosmetics, pharmaceutical, and food processing industries with the planned acquisition of phytochemical ingredients and intermediates supplier Wilshire Technologies Inc. Evonik announced in a release this week that the transaction is slated to reach completion later this month.
“With Wilshire’s unique products which replace animal origin ingredients and intermediates, we are moving another step forward with our development of a more diverse portfolio of sustainable active ingredients,” Dr. Tammo Boinowitz, who leads Evonik’s Care Solutions business line, said in a statement. “This latest acquisition allows us to continue our efforts in fortifying the flexibility of our products and technology platforms, while providing our customers with the bio-based products their markets demand.”
Once the deal closes, the business will join Evonik’s Care Solutions business line and its range of sustainable and natural-based ingredients. The company said its Health Care business line will also benefit from the acquisition with the addition of excipients and intermediates produced from natural sources for pharmaceutical and food applications.
Based in Princeton, NJ, Wilshire was established in 1997 by Joe San Filippo and currently has 10 employees.
“We are looking forward to expanding the presence of our products across these global industries,” San Filippo, Wilshire’s chief exeutive officer, said in the release.
Also this month, Evonik unveiled its new multi-purpose silicones production plant in Geesthacht, Germany. After starting to commission the site’s tank farm in December, the company intends to increase production during the next few months. The additional capacity will be used to produce silicone and nanotechnology products, including addition-curing silicones, silyl-terminated polymers (SMPs), and adhesives for use in medical and electronics applications.
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