M&As: Verdant acquires Lubrizol’s oil/gas assets; Chemours sells former titanium dioxide site in Taiwan
Houston-based chemical manufacturer Verdant Specialty Solutions has completed the acquisition of manufacturing and research assets at Elmendorf, Texas, from US compatriot Lubrizol. Terms were not disclosed.
The site provided the right chemistry for Verdant, which is the US subsidiary of South Korean conglomerate Samyang Goup.
The complex includes a chemical manufacturing operation and a research hub. It produces specialty chemicals - like hydrogen sulphide, scavengers, scale and corrosion inhibitors - that are used in energy production processes and oil and gas applications.
Verdant generates around US$207 million in annual sales. Lubrizol saw approximately US$32 million in annual sales in 2024, according to a news release announcing the completion of the deal.
In the acquisition, Verdant gains ownership not only Lubrizol's Elmendorf manufacturing plant and R&D facilities, but also its product portfolio and pilot-scale equipment.
Verdant is keeping the operation's 37 employees - the plant workers, sales team and customer service group.
The majority of Verdant's portfolio consists of compounds used in personal care products - like body wash, shaving products, shampoos and toothpaste. But about a quarter of its compounds are used in the energy sector, with a smaller selection dedicated to industrial uses.
In other news, Chemours Company, which offers thermal & specialised Solutions, titanium technologies and advanced performance materials says it is selling the remaining land at its former titanium dioxide manufacturing location in Kuan Yin, Taiwan to an ownership group including Century Wind Power Co, Century Iron & Steel Industrial Co and Century Huaxin Wind Energy.
The land sale will generate approximately US$360 million in gross cash proceeds, prior to customary taxes and fees.
The transactions are expected to close by mid-year 2026, pending local regulatory approval, including environmental conditions. Chemours plans to use the proceeds to reduce its debt obligations.
The company completed dismantling and removal procedures at the Kuan Yin site during the first quarter of 2025.
Overall, while the land sale in Taiwan provides a strategic opportunity to reduce debt, Chemours faces significant financial and operational challenges that require careful management and strategic planning.
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