KLK completes acquisition of Temix Oleo SpA

Malaysia’s Kuala Lumpur Kepong Bhd (KLK) said on 11 April that it had completed its acquisition of a controlling stake in Milan-based Temix Oleo SpA for an undisclosed sum.

The transaction – carried out via KLK’s oleochemicals division, KLK Oleo – was completed after receiving all necessary approvals, KLK said.

KLK Oleo is the manufacturing division of KLK, a leading Malaysian plantations

In Brief

WORLD: The bio-based lubricants market is growing at 5.2% CAGR and is forecast to reach US$4.9bn by 2032, according to research by Acumen Research and Consulting, reported by Globe Newswire group. It has manufacturing sites in Malaysia, Indonesia, China and Europe and produces basic oleochemical products such as fatty acids, glycerine, fatty alcohols and fatty esters, as well as speciality products such as methyl ester sulphonates (MES), surfactants and phytonutrients.

Derived from vegetable oils, animal fats and synthetic esters, bio-based lubricants have low toxicity, high biodegradability, and a lower carbon footprint compared to traditional petroleum-based lubricants, the 13 March report said.

The growing demand for eco-friendly lubricants in applications such as automotive, industrial, marine and aerospace is driving the growth of the global biobased lubricants market, with Asia-Pacific expected to be the fastest-growing market, the Acumen research said.

Major players in the sector included Royal Dutch Shell, ExxonMobil, Total, Fuchs Petrolub, and Panolin AG.

The products are used in the manufacture of products for home and personal care, pharmaceuticals, food and nutrition, flavours and fragrances, lubricants, poly- mers and industrial chemicals. KLK Oleo reported annual manufacturing revenues of US$4.8bn in the 2022 financial year.

Temix Oleo produces, trades and distributes chemicals and oleochemicals, mainly based on renewable feedstocks. It has a plant in Calderara di Reno, Bologna producing 50,000 tonnes/year of fatty acids and 25,000 tonnes/year of esters.

Temix reported a turnover of €150M (US$164M) in 2022, KLK said.