Mainstream Pine Products to acquire North Charleston crude tall oil refinery and majority of Industrial Specialties product line of Ingevity for $129m.

Mainstream Pine Products, company, which specializes in transformations of pine based chemicals into sustainable, high-performance products tailored for diverse industrial and commercial applications used in a wide array of industries, agreed to acquire North Charleston crude tall oil refinery and majority of Industrial Specialties product line of Ingevity, is a provider of products and technologies in three reporting segments: Performance Materials, Advanced Polymer Technologies and Performance Chemicals, for $129m. "This transaction marks a significant milestone for Ingevity, reducing portfolio volatility, strengthening our margin and cash flow profile and enhancing future strategic optionality. The transaction proceeds will enable us to accelerate deleveraging and provide additional capital allocation flexibility. As we move forward, we continue to advance our portfolio review with a focus on sustainable growth and profitability,” Dave Li, Ingevity President and CEO.