Ingevity to close Arkansas plant

Ingevity is closing an oleochemical refining plant in Arkansas and moving the operations to a facility in South Carolina. That site produces chemicals from crude tall oil, a by-product of pulp and paper production. Ingevity expects the move to result in savings of up to $25 million per year. Last year, the company started shifting its focus from commodities toward higher-margin specialty chemicals. The plan included closing a plant in Louisiana last year.