Author: Louise Prance-Miles

BASF and Petronas Chemicals set to build global plant in Kuantan as part of diversification strategy

Germany-based BASF and Petronas Chemicals have announced a new joint venture in the proposed build of a global plant in Kuantan, South Asia. The new world-scale production plant will make highly reactive polyisobutene (HR-PIB) and will be the first of its kind in the area. Releasing a joint statement, the two companies said the plant will be built on the site of their current joint venture BASF Petronas Chemicals Sdn Bhd and will produce an estimated 50,000 tonnes of HR-PIB. Production is predicted to start in the fourth quarter of 2017. The investment goes hand in hand with the...

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North American cosmetics innovator Markwins appoints new president to bolster Physicians Formula division

Jeff Rogers has been announced as the new President of Markwins International Corporation Physicians Formula – a part of the Markwins organisation since 2012. The appointment will see Rogers working with the founder and CEO of the company to focus on creativity and innovation to further improve the brand. Physicians Formula has enjoyed encouraging success for the company, reporting market share gains year over year and was the fasting growing premium brand over the last 52 week period. While this is a new role for Rogers, he has been a part of the company for 25 years, joining initially...

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Cosmetics behemoth Unilever beats analyst expectations with 2.9% growth in the first half of the year

Consumer goods company Unilever has reported a 2.9% growth in the first half of the year, beating expert forecasts, which were 2.6%. The growth boosted the company on the FTSE 100 with shares up by two per cent to £29.18 in early trading. However, the company warned that consumer demand was ‘negligible’ in some of its core markets and as a result Unilever remains cautious about the coming months. Factors to affect the company include a recession in Brazil, Western sanctions in Russia and weakening growth in China. Unilever, which makes Dove soap and Lynx Deodorants, amongst other household...

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Elizabeth Arden announces appointment of new president alongside new joint venture

Global prestige beauty products company Elizabeth Arden has announced the appointment of JuE Wong as president, commencing 3rd August, 2015. The appointment goes hand in hand with the news of a joint venture agreement with Asian prestige beauty distributor Luxasia Ventures Pte Ltd.  Wong joins the company with extensive experience in the industry having previously held positions as Chief Executive Officer of StriVectin and Astral brands and various leadership roles for brands such as N.V. Perricone M.D. Cosmeceuticals and Murad. The company hopes to use Wong’s extensive background of commercial and marketing experience, including product development, integrated marketing communications,...

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High valuations encouraging companies to sell up in heated flavours and fragrance market

Companies are being encouraged to sell their businesses thanks to high valuations, said Gilles Andrier, CEO of Givaudan, the world’s largest flavours and fragrance company, in a recent interview. The comments follow a host of high valuations as companies ramp up their M&A activity. Switzerland-based Givaudan, for example, is looking for assets to help build its cosmetic ingredients business, as well as opportunities in food and beverage. Meanwhile last month International Flavors & Fragrance Inc agreed a purchase of Lucas Meyer from Unipex Group for 283 million euros in a bid to cross into the cosmetic ingredients market. This...

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