2024 Recap: Supply Chain Highlights

Partnership Formation: IFF joined forces with Bellona, an environmental NGO, to launch the Norwegian Marine Restoration project.
Freight Challenges: Sun Chemical introduced a freight surcharge propelled by the so-called ‘Red Sea Crisis,’ hinting at impending shortages of raw materials.
Financial Strain: The Body Shop faced over US$1 million challenges with potentially unpaid orders as its UK division entered administration, affecting its fair trade suppliers.
Profit Warnings: Croda anticipated a decline in profits and margins due to weakening demand in their crop protection and industrial specialties sectors.
Executive Transition: Symrise CEO, Dr. Heinz-Jürgen Bertram, announced his successor as Dr. Jean-Yves Parisot.
Innovative Collaborations: DSM-Firmenich teamed up with Interstellar Lab to transform botanical ingredient production, leveraging biotechnologies and AI.

Funding and Innovation: Sparxell secured US$3.2 million in funding to advance sustainable pigments.
Environmental Approvals: Kao received permissions to initiate plastic recycling at their business sites in Japan.
Recycling Projects: Dow and Procter & Gamble collaborated on a new recycling technology for difficult-to-recycle plastics.
Business Moves: IFF divested its cosmetic ingredients segment to Clariant.
Decarbonization Initiatives: Henkel launched a supplier engagement program focused on reducing carbon footprint.
Industrial Collaborations: The Chemical Business Association aligned with the Critical Imports Council, a move emphasized by DBT.
Energy Investment: BASF acquired a 49 percent stake in Vattenfall’s Nordlicht wind farms.
Supplier Recognition: Procter & Gamble acknowledged 12 partners with their Partner of the Year accolade.
Sustainability in Packaging: Estee Lauder and Strategic Materials advanced packaging sustainability efforts.

Circular Economy: Dow and Freepoint Eco-Systems committed to processing 65,000 metric tons of plastic waste annually.
Renewable Projects: BASF and Vattenfall secured service contracts for wind turbine deployment with Vestas.
Acquisition Announcements: Tate & Lyle revealed a US$1.8 billion acquisition of CP Kelco.
Pigment Business Sale: Merck KGaA set to sell its pigments division to GNMI for €665 million.
C-Suite Change: Croda chose Stephen Oxley as their future CFO, taking effect in 2025.
Company Mergers: Plans for Quadpack to merge with Texen under PSB Industries advanced.
Funding Success: NoPalm Ingredients celebrated a €5 million funding round closure.
Supply Challenges: BASF issued a force majeure on distinct vitamin and aroma products following a plant fire.
Financial Growth: dsm-firmenich successfully concluded a substantial €1.8 billion revolving credit agreement.
Legal Protections: Inolex launched a patent infringement suit against Actera Ingredients.

Research Partnership: Beiersdorf and Macro Biologics collaborated on antimicrobial peptides.
Innovative Ingredient Discovery: L’Oreal joined Abolis Biotechnologies and Evonik in an agreement to create new sustainable ingredients.
Manufacturing Adjustments: Groupe Rocher sold its Ploërmel site to Arcade Beauty.
Strategic Collaboration: Clean Food Group and THG Labs teamed up to create new ingredients from food waste.
Acquisition News: Robertet acquired Phasex.
Market Strategy: Edgewell Personal Care aimed to stabilize costs through long-term agreements with Chinese suppliers.
Mergers: Amcor entered a merger with Berry.
Equity Sales: dsm-firmenich increased its Robertet share sales beyond initial plans.
Stake Increase: Symrise acquired a majority stake in Probi.
Supplier Agreements: A long-term finance agreement between BASF and INOCAS was signed.
Strategic Purchases: Eternis Fine Chemicals acquired Sharon Personal Care.
Market Fluctuations: A rise in palm oil prices followed environmental disruptions in Malaysia.

Must Read