Chitinor AS Reaches Agreement with BASF

Chitinor AS has reached an agreement with BASF SE to acquire BASFs marine biopolymers chitosan business operations. The deal marks a strategic milestone for Chitinor’s business development plans for expanding its biopolymer product ranges and business-to-business operations.

Under the agreement Chitinor will acquire production facilities in Tromsø, Norway, inventories, patents, Chitopharm™ trademark, product and application technologies, and global customer portfolio for all chitosan product ranges, including functional cosmetic ingredients and Chitopharm™ pharmaceutical ingredients with corresponding Drug Master Files. The transaction is expected to be formally completed by August, 2012.

“With the acquisition of BASFs chitosan business operations, we are significantly strengthening our product and customer portfolio for our marine biopolymer business area. The inclusion of BASFs production facilities in Tromsø is a strategic and synergistic fit to our existing biopolymer operations in Troms, Northern Norway,” says Thorleif Thormodsen, CEO of Seagarden ASA and Chairman of the Board of Seagarden ASAs fully owned daughter company Chitinor AS. “The combination of BASFs proprietary technology for tailored manufacture of high quality chitosans for cosmetic and pharmaceutical uses and Chitinor’s track-record and know-how related to chitin based biopolymers will provide our customers with a strong supply-chain for top quality products unmatched by anyone. Importantly, the acquisition also represents a valuable addition to our customer portfolio in the cosmetic and pharmaceutical markets,” adds Bjarte Langhelle, Commercial Director of Seagarden ASA.

About Chitinor AS
Chitinor AS is a leading producer and supplier of marine biopolymers based on shells from North-Atlantic cold-water shrimp, Pandalus borealis. By direct and full integration with Norway’s largest shrimp processor, the company relies on minute-fresh and fully traceable raw materials for production of high quality marine biopolymers supplied to the international food and pharmaceutical markets. Chitinor AS is a fully owned subsidiary of Seagarden ASA, Haugesund, Norway.

About Seagarden ASA
Seagarden ASA is a Norwegian Public Company with around 80 shareholders. The company is registered in Haugesund, Norway, and is the holding company for Seagarden AS, Chitinor AS, Atlantic Ingredients AS, Arctic Medical Nutrition AS and Avaldsnes Property AS.

Associated companies:


Related news

Latest news

USCG confirms OPtimarin in Line for Ballast Water Approval

The United States Coast Guard (USCG) has confirmed that Norwegian ballast water treatment specialist Optimarin has become the first supplier to submit an application for type approval.

New order for Servogear

Servogear announces that they have received a new order from Brødrene Aa. 

Norwater AS reports boost in sales

The Norwater team reports of great interest and busy days in 2016. In a press release, they state that as of the first 8 months of the year, 2016 sales are already beyond target for the year as a whole.

Gaia-facts reaching ground control

The European Space Agency (ESA) has released the first data from the Gaia mission, which has the tremendous task of building the most precise 3D map of the Milky Way.

Polish delegation for Norwegian circular waste management

Against the background of the EU's ambitious waste management targets, Norwegian and Polish stakeholders met on Wednesday 14 September in Drammen.

Milestone at Mongstad Water Treatment Plant

SAR AS reports that an extensive upgrade to the water treatment plant at Mongstad reached a new milestone July. 

Servogear signs new contract with Özata Shipyard

Servogear has announced the signing of a new contract with Özata Shipyard in Turkey. The contract includes the delivery of Servogear Ecoflow PropulsorTMfor two 39 meter passenger catamarans (YN 41 & YN 42).

Statoil and Petrobras strengthen strategic partnership

Statoil reports that they have strengthened their cooperation in Brazil by signing a Memorandum of Understanding (MoU) with Petrobras.

TechInvent and Island Offshore/Centrica announced winners of ONS Innovation Award

TechInvent and Island Offshore/Centrica were announced winners of the ONS 2016 Innovation Awards, at the Innovation Awards Ceremony Tuesday 30 August.