The company says that the move into personal care specialty ingredients industry is part of its overall plans to expand its Performance Materials business.
Currently the company serves the technology, energy, healthcare and industrial sectors worldwide with atmospheric gases, process and specialty gases, performance materials and chemical intermediates.
In an effort to assist its path into the new business area, Air Products says it will initially leverage a technology license, and research and development agreement with Landec Corporation. This move provides exclusive rights to Landec's polymer technology for personal care, which currently trades under the Intelimer name.
The Intelimer polymers have been developed to adjust the sensory qualities of skin and hair care products according to the temperature of the skin or hair.
"Our strategy is to create a personal care platform via a combination of new product development internally, the licensing of external technologies that build on our core competencies, and selected acquisitions that provide critical mass, know-how and industry access," said Wayne Mitchell, Air Products' vice president and general manager-Performance Materials Division.
With performance personal care ingredients currently a significant growth segment, the move should provide the company with the chance to tap into such growth, in turn allowing it to develop this division of the company.
"This collaboration will jump-start our goal to become a credible specialty ingredient supplier to the personal care industry and will enable our long-term strategic objective to establish a profitable growth business," said Solomon Lemma, Air Products' business development manager-Personal Care.
Lemma added that the collaboration would allow Air products to tap into a existing product sales, late stage developmental products and business relationships with personal care formulators.
Air Products made its Personal Care Specialty Ingredients debut May 16-17 at the New York Suppliers Day.