Former supplier to the beauty and personal care industry now a pure-play healthcare company
Lonza has bowed out of supplying the beauty and personal care industry.
This follows the completion of the divestment of its former Speciality Ingredients business and operations.
The Swiss company announced that it would sell its Speciality Ingredients arm to Bain Capital for CHF4.2bn back in February.
Commenting on the completion, Lonza Chairman Albert M Baehny said: “Since announcing our intention to divest the Specialty Ingredients business, we have made significant progress in consolidating our new structure and identity and refining our focus as a pure-play partner to the healthcare industry.
“As the divestment of the Specialty Ingredients business completes, at Lonza we have an opportunity to consolidate our identity and redouble our focus on long-term growth while delivering value for our customers, employees and shareholders.
He continued: “I wish to thank the leadership teams and all employees in the Specialty Ingredients business for their continuing dedication and professionalism during the transition period.
“We remain close neighbours with the Specialty Ingredients business at some of our sites, so we look forward to continuing to collaborate with the new company and wish it much success under its new ownership.”