Saudi Aramco and Baker Hughes, a GE company (BHGE) signed a memorandum of understanding on July 2nd to create a new joint venture facility in Saudi Arabia to manufacture non-metallic materials which will be used in a variety of areas of the energy industry. “This agreement supports Saudi Aramco’s strategy to play a leading role … Read more
Synthomer Plc said on Wednesday it has agreed to buy Omnova Solutions Inc for an enterprise value of $824 million in a bid to strengthen its global position. London-based Synthomer is offering Beachwood, Ohio-headquartered Omnova $10.15 for each share, a premium of 58% to Omnova’s closing price on Tuesday. Completion is subject to closing conditions, … Read more
Arkema completed the acquisition of ArrMaz, a global leader in specialty surfactants for crop nutrition, mining and infrastructure markets. The acquisition of this profitable, resilient and low capital intensive business, which has an accretive impact from the first year, is another milestone in Arkema’s growth journey towards specialties that contributes to further reinforcing the Group’s … Read more
Deepak Nitrite, a chemical intermediates manufacturer announced on Saturday that it has successfully commissioned a Rs 1,400 crore ($202 million) phenol-acetone plant as reported by Business Standard. The new plant will help import savings of Rs 2,800 crore (about $400 million) for the company, the news report added. The plant set up through its wholly-owned … Read more
HMC Polymers, a leading SE Asia Polypropylene (PP) producer announced plans to construct a fourth Polypropylene plant at its Map Ta Phut site, Rayong Province Thailand, bringing HMC’s total PP capacity to over 1 million tons and maintaining position as SE Asia’s largest PP producer. “HMC will continue our mission to push the boundaries of … Read more