News from Notch Consulting, Inc.

July 11, 2019

Black Bear named Technology Pioneer by the World Economic Forum

Filed under: Carbon Black — Notch @ 11:35 am

Recovered carbon black producer Black Bear has been selected as one of the World Economic Forum’s ‘Technology Pioneers’ alongside 55 other innovators. Black Bear develops technology to recover valuable materials from waste tires.

Each year the World Economic Forum names early to growth-stage companies from around the world as Technology Pioneers. This year, companies from a diverse set of industries have been selected, including developers of AI, IoT, robotics, blockchain and biotechnology.

“We’re excited to welcome Black Bear to this year’s innovative class of technology pioneers. Black Bear and its fellow pioneers are leaders in using novel technologies to transform their industries. We see great potential for these next-generation companies to shape solutions to global challenges and improve society for years to come,” said Fulvia Montresor, head of Technology Pioneers at the World Economic Forum.

Black Bear’s CEO, Martijn Lopes Cardozo, commented, “It’s an absolute honor to be acknowledged as a pioneer by the World Economic Forum. It is a confirmation that our technology is unique and that it carries the potential to have a global impact on both environmental and societal levels. We’ve tackled the waste tire problem by following principles of the circular economy: we identified a waste stream and figured out how to recover these valuable materials as sustainably as possible. We believe that a worldwide transition to a circular economy is essential in solving the climate crisis. This makes it extra rewarding that we’ve been named a tech pioneer and we are looking forward to contributing to the Forum dialogues.”

Read the full press release here.

Omnova sold to Synthomer in $455 million deal

Filed under: Rubber Chemicals — Notch @ 11:16 am

Synthomer will buy specialty chemical company Omnova Solutions Inc. in a deal worth about $455 million.

Synthomer will pay $10.15 a share in an all-cash transaction for Omnova, according to a news release. The deal is expected to close by the end of the year or in early 2020, pending regulatory and shareholder approval.

“The offer price represents a premium of 52 percent over Omnova’s three-month weighted average share price of $6.67,” Omnova Chief Executive Officer Anne Noonan said in the release. “The transaction has been approved unanimously by the Omnova and Synthomer boards of directors. We are pleased that Synthomer recognizes the hard work of our employees in executing our multi-year transformation into a leading global specialty solutions provider.

“Omnova complements Synthomer culturally, geographically and by market, while Synthomer’s financial position provides for a very strong combined company that will be well positioned to accelerate growth. This transaction presents increased opportunities for the business and its employees to leverage the combined scale, grow more quickly and profitably, and enhance product innovation in ways that will benefit customers and employees.”

Read the full press release here.

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