Croda International PLC (CRDA)

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Itaconix renews supply deal with Croda for odour control product

(Alliance News) - Itaconix PLC on Wednesday announced its renewal of a global supply agreement with Croda Inc for sustainable odour control.

Itaconix is a London-based manufacturer of plant-based polymers. Croda is the North American arm of Yorkshire, England-based speciality chemicals maker Croda International PLC.

The deal will extend and expand the supply partnership between the two companies that was first launched in 2017 and last renewed in 2022.

Under the terms of the agreement, Itaconix is adding Zinador 22D, a new dry powder format, to its two current Zinador products that Croda markets and sells in home care applications. Zinador is an bio-based odour neutraliser

The new agreement extends the partnership between the two companies to at least 2030 and updates the product specifications for "ongoing market developments", the company said.

"Our collaboration with Croda continues to bring the value of our odour neutralization technology to more customers around the world. The addition of Zinador 22D offers even more opportunities for high-value usage, particularly in powder detergents. I believe the expansion and extension of our partnership with Croda will generate new levels of success in the coming years," said Itaconix Chief Executive Officer John Shaw.

Shares in Itaconix closed down 1.2% at 125.00 pence in London on Wednesday, giving the firm a market capitalisation of GBP16.9 million.

Croda International shares were 2.3% lower at 2,854.00p, giving it a market capitalisation of GBP4.01 billion.

By Emily Parsons, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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