Page 154 - CW E-Magazine (23-4-2024)

News from Abroad

INTERNATIONAL EXPANSION
China’s BGG set up new global base in Switzerland

BGG, a China-based supplier of family-owned company, which is based Mr. Chunhua Li, the founder and
premium branded ingredients, has in Beijing, is implementing a plan to principal shareholder of BGG, added,
announced the establishment of a new build on more than 25 years of growth “We strongly believe that our three
global headquarters in Switzerland as by fostering deeper relationships with leading technology platforms – botani-
part of a major restructuring plan. Ope- its international customers and part- cal extraction, enzymatic conversion,
rating as BGG World, the headquar- ners, while maintaining its strong pro- and micro-algae farming – combined
ters in Basel will be managed by newly duction and R&D roots in China. with continuous investment in clinical
appointed CEO Mr. Jürgen Nelis, sup- trials, will provide our customers with
ported by Mr. Thomas Adler, who joins Commenting on the development, high-value, sustainable business poten-
as Global Commercial Director. Mr. Nelis said, “As we internationalise tial for the long-term future.”
our organisational structure and operat-
Established in 1995, BGG is ing model, we will be investing heavily BGG World has also announced
involved in the procurement and produc- in our commercial organisation. We are plans to diversify into the food ingre-
tion of clinically tested ingredients for currently hiring several sales managers dients sector, beginning with BGG’s
food & beverage products, dietary sup- in Europe and the US, and by doing so existing stevia and licorice extract solu-
plements, and cosmetics. BGG’s spe- we will more than double our custo- tions. The company intends to broaden
ciality lies in harnessing the power of mer-facing resources in these key markets. its product offerings further in the com-
fruit extracts, marine botanicals, herbal At the same time, BGG will continue ing years, reinforcing its commitment
essences, natural vitamins, and unique to invest in its asset base and in human to innovation in dietary supplements,
sweeteners and flavour enhancers. The clinical trials for its core products.” cosmetics, and food ingredients.

Neste and Lotte Chemical team up on renewable

chemicals and plastics

Finland’s Neste and South Korea’s plastics and chemicals in Lotte Chemi- with Lotte Chemical,” said Mr. Jeroen
Lotte Chemical are teaming up to make cal’s broad product portfolio. “We are Verhoeven, Vice President Value Chain
chemicals and plastics more sustain- looking forward to increasing the share Development for renewable polymers
able. The companies are set to colla- of renewable solutions in collaboration and chemicals at Neste.
borate on replacing fossil resources with EU imposes anti-dumping duties on Chinese
renewable raw materials in the manu-
facturing of chemicals and plastics. PET imports
The European Commission has these duties follows an exhaustive
imposed definitive anti-dumping duties investigation conducted by the EU, which
on imports of specific polyethylene found that the dumping of Chinese PET
terephthalate (PET) originating from imports posed “an imminent and sub-
China. The Commission said the move stantial threat” to the EU industry.
is aimed at safeguarding EU companies
in the Euro 5.5-bn PET market. The Commission said the investi-
gation “unearthed a troubling pattern
The collaboration will see Neste Building upon the provisional wherein the inundation of dumped
providing renewable Neste RE, a raw duties implemented in November 2023, Chinese imports, deliberately priced
material for chemicals and plastics, the Commission has established tariffs at artificially low levels, precipitated a
that is made from 100% renewable raw ranging from 6.6% to 24.2%, contingent destabilisation of the EU market”. This
materials. Lotte Chemical will use Neste upon the exporting producer. These compelled EU industry players to dras-
RE at the company’s Korean sites to duties are set to remain effective for a tically slash their own prices to levels
produce various common types of period of five years. The decision to impose where profitability was compromised.

154 Chemical Weekly April 23, 2024

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