LyondellBasell Sells Flavors and Fragrances Business

LyondellBasell has sold its flavors and fragrances business to Pinova Holdings (Brunswick, GA) for about $150 million. Pinova is a global supplier of wood and gum rosin, as well as polyterpene resins. The acquired business produces terpene-based fragrance and flavor ingredients for the oral-care, confectionery, and beverage markets at Jacksonville, FL and Brunswick. Pinova produces its rosins and polyterpene resins at Brunswick. Pinova had not said by CW press time if it plans eventually to consolidate the plants. The combined companies will have annual sales of...

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