Ingevity (NGVT) said Thursday it is exploring strategic alternatives for its Performance Chemicals Industrial Specialties product line, including a potential divestiture of parts of its North Charleston, South Carolina, site.
The move affects pine chemical-based products used in markets such as paper, rubber, adhesives, and lubricants, but excludes the Performance Chemicals Road Technologies line and certain lignin-based products.
Ingevity also reported preliminary fiscal year 2024 results, with expected net sales of $1.4 billion, adjusted EBITDA of $360 million, and free cash flow exceeding $40 million. The company anticipates delivering adjusted EBITDA above $400 million in 2025.
Analysts polled by Capital IQ expected $1.42 billion of sales and EBITDA of $356.5 million.
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