Croda acquires Rewitec to Further its Sustainability Commitment
Combining efforts
On 17th July 2019, UK-headquartered ingredient supplier Croda revealed its acquisition of German Rewitec in a move that will support the company’s dedication to sustainability.
Rewitec, which stands for Repair and Restoration Technology (Reparatur und Wiederherstellungstechnologie), will apply their patented additives to optimise wind turbine and moving machinery efficiency and longevity.
As part of its ongoing sustainability commitment, Rewitec will join Croda’s Energy Technologies arm, which forms part of its Performance Technologies business.
The acquisition will see all of Rewitec’s employees join Croda, where together, the duo hopes to build upon its technical expertise and enhance its product portfolio.
Durability and Efficiency Focus
Rewitec strives to contribute to sustainability through its aim to “set down a marker for an energy-friendly environment and attaches great importance to sustainable performance”, the German manufacturer states.
Using ingredients that contain nano- and micro-particle based additives, Rewitec is able to apply a reconditioning layer to machinery to reduce friction and lower wear to increase overall durability.
Focusing on expanding the business and growing sales, Croda’s latest purchase strives to develop its applications in lower carbon emissions and sustainable power throughout its operations. It aims to achieve this sustainability push by enhancing durability and equipment efficiency.
Sharing how the two companies plan to extend their “leadership in friction and wear management”, Maarten Heybroek, President of Croda Performance Technologies, enthuses: “With their speciality ingredients offering high performance and sustainable benefits in use, they are a natural fit.”
Wider Sustainability Goals
A key industry for Croda, the personal care market represents the opportunity to combine beauty and sustainability further through active ingredients and ingredients that boost performance and efficacy of its core segments including skin care, hair care, sun protection and colour cosmetic items.
“Their focus on sustainability and entrepreneurial spirit perfectly aligns with our business,” Stefan Bill, Chief Executive Officer of Rewitec, explains, when discussing the acquisition.
Utilising its bio-based raw material heritage, Croda sets out its environmental commitment in its 2018 sustainability report. The company earmarks its pledge “to continue to invest in innovative product design and operations, working with our supply chain to minimise the negative impact we, and the ingredients we make, may have on the planet and maximise the positive benefits we deliver to improve lives”, as a key differentiator within the marketplace.
Croda has also identified four megatrends: Transparency and trust, changing demographics, fragile world, and digitalisation and interconnectedness. The UK ingredient supplier combines these insights and developments to underpin its strategic approach to sustainability.
