German chemicals company CABB is to be sold by AXA Private Equity to Bridgepoint Capital for an undisclosed fee. AXA bought CABB in 2007 and since then revenues have doubled to €311m ($441m).
Growth has been supported by the acquisition of India-based Karavati, giving CABB access to Asia, and Switzerland-based SF Chem. Martin Wienkenhöver, CEO of CABB, said the deals made a significant contribution to successful execution of the growth strategy.
Catalyst manufacturer Materia, which serves the fine chemical and other industries, is planning to strengthen its presence in Asia by opening a plant in Singapore. The plant will have an initial operating capacity of 10 metric tons and also house research and development capabilities.
Materia expects to complete site selection in the third quarter, begin construction by the end of 2011 and be producing 10 metric tons by the end of 2012. Expansion in Singapore will meet strong demand for Grubbs catalyst technology in Asia, said Michael Giardello, CEO of Materia.
Camlin Fine Chemicals has completed the acquisition of Italy-based Borregaard, a producer of hydroquinone. Supplies of hydroquinone, a raw material for a major Camlin product, have been restricted. Acquiring Borregaard is intended to ensure Camlin can access sufficient hydroquinone.
Shares of Albemarle have been upgraded by an analyst. Davenport upped its rating from “neutral” to “buy”. In an earlier development, JP Morgan Chase & Co changed its rating from “neutral” to “overweight”.
In February Albemarle increased its quarterly dividend following fourth quarter profits that bear the expectations of analysts polled by Thomson Reuters.