Clariant and Plant Advanced Technologies agree strategic partnership in cosmetics (updated)

Plant Advanced Technologies Pat SA

29/11/2019 07:16

(Adds details,)
    ZURICH, Nov 29 (Reuters) - Clariant  CLN.S  will take a 10%
stake in French cosmetics ingredients maker Plant Advanced
Technologies  ALPAT.PA , the Swiss speciality chemicals company
said on Friday, setting up a strategic partnership between the
two companies.
    The partnership combines PAT's research in discovering and
producing compounds from plant roots together with the marketing
and sales expertise of Clariant's Active Ingredients business,
Clariant said.
    The companies will work together to develop new premium
products which will be marketed through Clariant's global
network, it added. Financial terms of the deal were not
disclosed.
    PAT is known for its development of milking technology that
is used obtain ingredients from roots several times a year
without destroying the plant.
    The Nancy-based company has also developed a technique which
identifies compounds in complex mixtures that can be used to
develop new cosmetics.
    Care chemicals, whose consumer business supplies ingredients
for soaps and shampoos, has become one of Clariant's focus areas
after the company's chief executive quit earlier this year and a
joint venture with Saudi Basic Industries (SABIC) collapsed.
 urn:newsml:reuters.com:*:nFWN24Q00L.
    Hans Bohnen, a member of the Executive Committee at
Clariant, said: "We are excited to further improve our offer to
the Personal Care market through this new investment that
reflects Clariant's on-going commitment to a more sustainable
industry."
    
($1 = 0.9073 euros)

 (Reporting by John Revill
Editing by Tassilo Hummel and David Evans)
 ((John.Revill@thomsonreuters.com; +41 58306 7022; Reuters
Messaging: john.revill.thomsonreuters.com@reuters.net))