Advanced Petrochemical Company announced the signing of a Memorandum of Understanding (MOU) between Advanced Global Investment Company (AGIC), a subsidiary of Advanced, and SK Gas Co. Ltd, an affiliate of SK Group, South Korea, for the development of a Propane Dehydrogenation (to produce Propylene) and Polypropylene (to produce PP) Project in Jubail Industrial City in … Read more
Linde announced that it has signed a long-term agreement with ExxonMobil Asia Pacific Pte. Ltd. to support the latest multi-billion dollar expansion of the company’s integrated manufacturing complex in Singapore. This will be the single largest sale of gas contract in the history of the newly merged Linde and of its legacy companies. Linde will … Read more
Nouryon has increased production capacity for dialkyl peroxide at the company’s Ningbo site, China, by 25 percent after completing a major expansion project. The product, branded as Perkadox 14, is essential in the manufacture of many elastomer-based products, ranging from sports goods to industrial wires and cables. “Demand for Perkadox 14 in Asia and worldwide … Read more
Chevron Phillips Chemical Co has offered to acquire Nova Chemicals Corp. for more than $15 billion, Reuters reported based on information from people familiar with the matter. Nova Chemicals is owned by Mubadala Investment Co., located in Abu Dhabi in the United Arab Emirates (UAE). The state-owned investor has been scouting for a buyer since … Read more
Evonik officially commissioned its second complex for the production of MetAMINO® (DL-methionine) and strategically important precursors in Singapore on June 18, 2019. “Our methionine complex on Jurong Island, which we commissioned in late 2014 has been a real success story. Now, we want to continue the success story with this second plant,” said Christian Kullmann, … Read more
LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, and Neste, the world’s largest producer of renewable diesel from waste and residues, announced the first parallel production of bio-based polypropylene and bio-based low-density polyethylene at a commercial scale. LyondellBasell production team in Wesseling, Germany shows off first batch of bio-polymer made … Read more
BASF and SIBUR are collaborating to develop innovative polymer solutions at SIBUR’s PolyLab Research and Development Center in Moscow. The signing ceremony of the Memorandum of Cooperation took place on May 30th at SIBUR’s newly inaugurated state-of-the-art PolyLab at the Skolkovo Innovation Center to seal the strong commitment from SIBUR and BASF. Both companies will … Read more
Unifrax, the leading global provider of high-performance specialty materials backed by Clearlake Capital Group, L.P., announced it has acquired Stellar Materials, LLC, a manufacturer of highly proprietary, mission-critical and innovative specialty chemistries and materials. Financial terms of the transaction were not disclosed. “This acquisition represents another positive step in the continued implementation of our long-term … Read more
Danhua Chemical Technology Co., Ltd. is planning to purchase 100% equity of Jiangsu Silbang Petrochemical Co., Ltd. by way of issuance of shares. The transaction is valued around 11 billion yuan ($1.59 billion). The transaction is part of the company’s asset restructuring plan. On June 13, 2019, the company held the twenty-seventh meeting of the … Read more
SK Chemicals Inc., a chemical unit of SK Group, said that it has decided to acquire KCF Technologies Co., the world’s top producer of copper foil for lithium-ion batteries, in a bid to diversify its business portfolio. SK Chemicals said it will buy a 100 percent stake in KCF Technologies, currently owned by Kohlberg Kravis … Read more
Repsol, one of the largest energy companies, present in the entire value chain covering a wide range of petrochemicals’ production that includes styrene monomer, becomes a member of SCS. Repsol joins the four founding members of SCS (Styrenics Circular Solutions), INEOS Styrolution, Total, Trinseo and Versalis (Eni). SCS is now well established with producers of … Read more
China saw a 16 percent monthly drop of rare earth exports in May amid trade war escalation and an increased focus on domestic resources conservation and high-quality development of commodities, as reported by China Daily. Rare-earth exports by China fell to 3,640 metric tons in May from 4,329 tons in April, according to the General … Read more
Elkem Silicones, the world’s second largest silicone siloxane capacity producer, announces it has expanded its local product offering to include upstream basic silicones to meet the growing demands of the North American marketplace. These basic silicone materials, including cyclosiloxanes D4 and D5, polydimethylsiloxane oils (PDMS), silanol fluids, emulsions and sealants, now will be readily available … Read more
Northleaf Capital Partners (Northleaf) announced that funds managed by Northleaf have acquired a 49% equity interest in Odfjell Holdings (US) Inc. (OHUS), a portfolio of bulk liquid storage terminals in the United States. The remaining 51% interest continues to be held by Odfjell SE, one of the leading players in the global market for seaborne … Read more
Covestro, a leading global supplier of high-performance polymer materials, has delivered its first commercial order of polyurethane raw materials for wind blades to China. China is the world’s largest wind power market with 221 GW of installed capacity at the end of 2018, according to the World Wind Energy Association.(1) The blades, produced by Zhuzhou … Read more
Altana’s ACTEGA Rhenania, a globally leading coatings and adhesives specialist, inaugurated its new laboratory building in Grevenbroich on June 5th. The company invested around 10 million euros in the new building. The building has an area of 5,700 square meters, doubling ACTEGA Rhenania’s space for research and development. “With this investment we are considerably boosting … Read more
Lion Elastomers, LLC announced on Monday the execution of a purchase agreement for an Orange, Texas production site owned and operated by Firestone Polymers, LLC, a wholly owned subsidiary of Bridgestone Corporation. The plant manufactures polybutadiene and styrene-butadiene copolymers, produced under the Stereon™, Diene™, and Duradene™ trade names. These products are complementary to Lion’s current … Read more
Polyscope Polymers B.V. has completed the business integration of the global styrene maleic anhydride (SMA®) copolymers business from Cray Valley S.A., Cray Valley HSC Asia Ltd, Cray Valley (Guangzhou) Chemical Co. Ltd. and Total Petrochemicals & Refining USA, Inc. Cray Valley was the global market leader for low molecular weight (LMW) SMA® products and the … Read more
INEOS has signed a Memorandum of Understanding with Saudi Aramco and Total, France, to build three new plants as part of the Jubail 2 complex in The Kingdom of Saudi Arabia. A new state-of-the-art 425,000 tonne acrylonitrile plant, will use INEOS’ world leading technology and catalyst. It will be the first plant of its kind … Read more
BASF and SINOPEC commenced production at the second propionic acid plant at the Verbund site, BASF-YPC Co., Ltd., a 50-50 joint venture in Nanjing, China. Commercial products are now available for sale to customers in China and the rest of Asia Pacific. The new plant has an annual production capacity of 30,000 metric tons of … Read more