Ingevity said it has ended its crude tall oil supply agreement with Georgia-Pacific as part of a review to restructure its performance chemicals business.

The chemical manufacturing company on Monday said the termination of the deal provides flexibility to focus its resources on attractive specialty chemicals markets.

The company on July 1 made a $50 million cash payment to building-products and paper maker Georgia-Pacific and agreed to pay an additional $50 million by October. It has also agreed to acquire more crude tall oil in July to meet June's purchase obligations.