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Croda starts review of PTIC ownership structure

Croda International PLC said Wednesday that is holding a strategic review of its performance technologies and industrial chemicals, or PTIC, businesses in order to establish what ownership structure best serves the business going forward.

The FTSE 100 chemicals company said the review, expected to conclude by the end of the year, will create a stronger platform for future growth and is consistent with its prioritization of investments in faster-growth life science and consumer markets, which represent more than 80% of the company's profitability.

Croda said the review is being held in the context of continued improvement in its trading in the year to date, a trend first seen in the second half of 2020, with demand strong across all regions and sectors.

The scope of the review will focus on elements in the PTIC businesses that don't directly support consumer-care and life-sciences sectors, and will consider whether Croda is the best future owner of all such businesses.

The review will assess whether the full potential of the company can best be delivered under Croda or as a full or partial divestment, Croda said.

Write to Joe Hoppe at [email protected]

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