Volume 5 Issue 2
Chemical manufacturers in the United States reported that supply chain disruptions are persisting and in some cases worsening, causing them to incur significant expenses in shipping delays and lost business, according to a survey conducted by the American Chemistry Council late last year. The trade group predicted that the problems will continue well into 2022 and called for federal government action to alleviate the situation.
Biosynthetic Technologies, a producer of biobased synthetic compounds used in base oils, lubricants and additives, acquired castor oil and castor oil derivatives distributor Innoleo, the company announced last week. Terms were not disclosed.
Private equity firm OpenGate Capital has acquired Chemsolv Inc., a Virginia-based regional distributor of commodity and specialty chemicals, including lubricants, surfactants, additives and other products. Terms were not disclosed.
WD-40 Co. reported net income of $18.6 million for the quarter ending Nov. 30, a 21% decrease from $23.6 million in the same period in 2020. The company citied ongoing supply chain disruptions and a volatile operating environment as factors.