BASF Venture Capital is investing in the Longwater Advanced Materials Fund. This private equity fund is managed by Longwater Investment, a pioneer growth capital investor in advanced materials and chemistry-related technologies in China. BASF Venture Capital is one of several Limited Partners; other investors include Xiamen C & D, CICC Genesis and Tsinghua Redbud. The … Read more
Lotte Group’s Chemical Business Unit (BU) has announced plans to invest about KRW 3.7 trillion ($3.1 billion) in South Korea by 2022. Business Korea reported that Lotte Group is aiming to increase its global sales to KRW 50 trillion by 2030 as part of the expansion plans. Lotte Group chairman Shin Dong-bin also has further … Read more
Nippon Shokubai and Sanyo Chemical Industries announced on Wednesday that the two companies had reached a Basic Agreement to move ahead with the consideration toward the integration of their businesses based on an equal footing. They will establish a holding company in October 2020 to integrate operations, which will be followed by a full-blown merger … Read more
Showa Denko has decided to acquire all shares in ILAG Industrielack AG, which leads the ILAG Group (ILAG), a specialty non-stick coating chemicals manufacturing company headquartered in Wangen, Switzerland, and signed a stock purchase and sale agreement with the current owners, a coalition of investors led by Helvetica Capital AG, a Swiss-based private equity firm. … Read more
Perstorp has obtained FCN 001967 (Food Contact Notification) from the US FDA for the use of Pevalen as a plasticiser in PVC polymers for use in repeated‐use food contact articles. Jenny Klevås, Product Manager, Perstorp, said: “The food contact notification will further strengthen the offer to the North American market which we believe will be … Read more
Nouryon and Gasunie are exploring an expansion in Delfzijl, the Netherlands, of a planned green hydrogen unit. The feasibility study follows an agreement to convert sustainable electricity to green hydrogen for SkyNRG. The plant could be scaled from 20 megawatts to at least 60 megawatts–allowing 9,000 tons of green hydrogen to be converted annually. SkyNRG, … Read more
Sika has completed the acquisition of Parex on May 23, 2019. The deal was announced on January 8, 2019. With the acquisition, Sika expects to expand its product portfolio for the building finishing market, further strengthening its world leader position in construction chemicals, and reaching sales in excess of $ 8 billion for 2019. The … Read more
On 23rd of May, Orica and Guizhou Jiulian Industrial Explosives have signed final, binding documents to establish a joint venture for the manufacture and service delivery of explosives in China. This follows an agreement to work toward this outcome announced on 16 July 2018. Under the terms of the binding agreements, each party will contribute … Read more
Eastman Chemical Company announced investments in expanding its capabilities for the production of hydrogenated and non-hydrogenated hydrocarbon resins at both its Middelburg, The Netherlands, and Jefferson, Pennsylvania, manufacturing sites. Additional investments will also be made in the production of polyolefin polymers at the Longview, Texas, manufacturing site. The expansions will be completed at various times … Read more
BASF announced that it has developed OASE® gas treatment technology for methanol production which emits no carbon dioxide during the entire production process. The production processes of the most important basic chemicals are responsible for around 70 percent of the greenhouse gas emissions in the chemical industry. BASF experts are working intensely on new technologies … Read more
McDermott International, Inc. announced that it has been awarded a sizeable technology contract by MOL Petrochemicals for the basic engineering, technology license, catalyst and Front End Engineering Design (FEED) for an Olefins Conversion Technology (OCT) unit at MOL’s petrochemicals complex in Tiszaújvaros, Hungary. Once complete, this unit will have a production capacity of 100,000 MTA … Read more
Shell Chemical announced on Monday that the company will advance feasibility plans for a potential $1.2 billion manufacturing expansion at its Shell Geismar facility in Louisiana. At the 841-acre complex in Ascension Parish, Shell Chemical LP would build a world-scale monoethylene glycol (MEG) plant, pending final engineering, design and investment decisions. A decision to proceed … Read more
Hyundai Chemical Company, Ltd. has chosen Univation Technologies’ UNIPOL PE Technology for a 300 kTA high-density polyethylene (HDPE) plant to be located at Hyundai’s site in Daesan, Republic of Korea. Hyundai will utilize a broad range of Univation’s HDPE product technology portfolio including the ACCLAIM K-100 Catalyst Series for advanced HDPE products such as film, … Read more
BASF announced that it will provide innovative 3D printing additive manufacturing materials to Paxis LLC for their new WAV technology. This is currently in development and is designed to meet the needs of additive manufacturing users, advanced manufacturing as well as traditional manufacturing markets. The WAV (Wave Applied Voxel) process was created with the end-user … Read more
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announced the start of its new polypropylene (PP) compounding plant in Taylorsville, US. The 50,000 sq. ft. facility, with rail siding in place, adds an initial 30,000 MT of capacity to strengthen Borealis’ and Borouge’s global supply capability for … Read more
The Uzbekistan Energy Ministry and a group of investors including Uzbekneftegaz, Uzkimyosanoat, Air Products & Chemicals Inc. and Enter Engineering announced on 16th of May that they have signed a Project Development Agreement (PDA) to build a new petrochemical plant based on MTO (methanol-to-olefins) technology. The project aims to use domestic gas supply to produce high … Read more
GAIL (India) approved the revival of the existing LPG plant in Usar, Maharashtra and converting it into polypropylene (PP) complex. The planned capacity of the PP complex is 500,000 metric tonnes per annum and will be built with an estimated investment of $ 1.2 billion (Rs 8800 crore), as stated in Business Standard news article. This … Read more
Arkema announced on Thursday that it is to acquire ArrMaz Products (Mulberry, Florida), a producer of specialty surfactants, from Golden Gate Capital for $570 million. ArrMaz is a leader in specialty surfactants for crop nutrition, mining and infrastructure with $290 million in sales, an EBITDA margin of 18% and around 2.5% of capex to sales. … Read more
Petronas Chemicals Group Berhad (PCG) has announced on Thursday that it has entered into a Sale and Purchase Agreement (SPA) to acquire 100% of Da Vinci from its shareholders for $163 million (about RM 760.6 million). Da Vinci’s shareholders include amongst others, funds managed by Bencis Capital Partner. Petronas Chemicals said the full cash consideration … Read more
Indorama Ventures Public Company Limited (IVL), a global chemical producer, launched new 100% rPET (recycled PET) brand DEJA as part of its continuous commitment to deliver responsible and sustainable growth. DEJA, 100% rPET products are derived by recycling 140 kilo tonne of plastic bottles yearly and transforming them into extra-ordinary, innovative, product ingredients. The PET … Read more