Expansion in the Old World: US speciality chemicals company Vertellus (Indianapolis, Indiana; www.vertellus.com) has agreed to buy the intermediates and speciality chemicals division of Austria’s ESIM Chemicals (ESIM, Linz; www.esim-chemicals.com). No financial details of the deal were disclosed, and around 150 of the approximately 500 employees at ESIM are said to be affected by the sale. The transaction still requires the approval of oversight authorities.

ESIM Chemicals manufactures agricultural and crop protection chemicals as well as intermediates, maleic acid hydride and its derivatives and sells them worldwide. Vertellus, founded in 1857, produces speciality chemicals for personal care, healthcare, coatings, transportation products, food, and agriculture. The company employs more than 1,000 people at a total of 15 locations in China, India, the UK and the US.

Vertellus has been owned by US financial investor Pritzker Private Capital (Chicago, Illinois; www.ppcpartners.com) since the beginning of the year. In the summer of 2016, the company, whose plastics and polymers division produces plasticisers, antioxidants and additives for polyamides and PVC, had to put itself in bankruptcy protection under US Chapter 11. At the time, the company cited strong competition from China as the reason for the financial difficulties (see Plasteurope.com of 17.06.2016).