BASF and the fine chemical company DIC have reached an agreement on the acquisition of BASF’s global pigments business. The purchase price on a cash and debt-free basis is €1.15 billion ($1.27 billion). The transaction is expected to close in the fourth quarter of 2020. The divestiture is subject to the approval of the relevant … Read more
Over the last two years SNF has added 75,000 metric tonne per year powder-grade polyacrylamide (PAM) production capacity globally to match the increased demand for EOR (Enhanced Oil Recovery) applications. By the end of 2020, SNF will add 75,000 metric tonne per year more. This 150,000 metric tonne per year, $1.2 billion worth new capacity … Read more
Nouryon will double capacity at its surfactants plant in Stenungsund, Sweden to support the growth of several existing products as well as new sustainable technologies for markets including oil and gas, lubricants and fuels, and asphalt. The €12-million expansion and upgrade project includes the installation of a new reactor and is expected to be completed … Read more
Koch Methanol Investments, LLC (Koch Methanol) and Yuhuang Chemical Industries Inc. (YCI), a wholly owned subsidiary of Shandong Yuhuang Chemical Company, have recapitalized YCI Methanol One, LLC (the “Joint Venture”). As a result of this transaction, Koch Methanol is the indirect, majority owner and managing member of the Joint Venture. The Joint Venture is currently … Read more
Lotte Chemical said on August 22 in a regulatory filing that its management had agreed to merge with Lotte Advanced Materials, a wholly-owned subsidiary. The board of directors of Lotte Chemical, based in Seoul, agreed on a scheduled merger between two Korean-Japanese Lotte subsidiaries. Lotte Advanced Materials will merge into Lotte Chemical once the merger … Read more
Meridian Adhesives Group announced on Thursday the acquisition of Epoxies, Etc., a leading resin formulator of epoxies, urethanes and silicones. Arsenal Capital Partners created Meridian in 2018 as its platform in the global adhesives and sealants sector, focusing on high-value adhesives technologies. In May 2018, Meridian completed the acquisitions of Epoxy Technology and Adhesives Technology … Read more
As part of the Company’s current slate of low capital intensity, high-return incremental growth investments, Dow announced it will retrofit proprietary fluidized catalytic dehydrogenation (FCDh) technology into one of its mixed-feed crackers in Plaquemine, Louisiana, to produce on-purpose propylene. The retrofit will enable Dow to continue to meet growing demand for its businesses serving consumer, … Read more
Saudi Aramco’s US subsidiary Motiva Enterprises has agreed to buy Flint Hills Resources’ cracker and related chemical assets at Port Arthur, Texas, USA. Financial terms were not disclosed. The deal is expected to close in the fourth quarter of 2019. The cracker has a capacity of around 700,000 tonnes/year for ethylene and around 300,000 tonnes/year … Read more
South Korea’s Hyosung announced on Tuesday it will invest 1 trillion won ($829 million) by 2028 to expand its carbon fiber production capacity, vowing to raise the country’s competitiveness to lessen dependence on other countries. To achieve this, it will put advanced materials, crucial for the “hydrogen economy,” at the forefront of its business portfolio. … Read more
Rain Carbon Inc., a leading global producer of carbon-based products, initiated the phased start-up of its hydrogenated hydrocarbon resins production facility in Castrop-Rauxel, Germany on Thursday. Once operational in the fourth quarter of 2019, the state-of-the-art plant will have a permitted resins production capacity of up to 50,000 tons per year and will serve as … Read more
Elkem ASA acquires Basel Chemie, a Korean producer of specialty silicone gels for cosmetics and water repellents for the construction industry. The acquisition gives Elkem access to leading technology in attractive end-user silicone segments and provides a solid platform for further development and growth. The companies have agreed an enterprise value of USD 26.9 million … Read more
Ion Exchange (India) Limited, a leading water and environment management solutions provider, announces the launch of its new Research & Development Centre at Patancheru in Telangana, of Southern India. The centre will focus on the company’s Chemicals, Resins and Membranes business. It will also provide technical and scientific support to the company’s existing technology and … Read more
DOMO Chemicals and Solvay have signed an agreement for DOMO to acquire Solvay’s Performance Polyamides Business in Europe. This includes Engineering Plastics operations in France and Poland; High-Performance Fibers in France; Polymer and Intermediates operations in France, Spain and Poland. The agreement also involves a joint venture between BASF and DOMO in France for the … Read more
Dow announced that it has reached an agreement for the divestiture of its Acetone Derivatives business to ALTIVIA Ketones & Additives, LLC, an affiliate of ALTIVIA, a privately held producer of chemicals headquartered in Houston, Texas. “This divestiture illustrates Dow’s disciplined approach to portfolio management with a best owner mindset,” said Jim Fitterling, chief executive … Read more
Saudi Aramco signed a letter of intent for a proposed purchase of a 20% stake in the oil-to-chemicals (O2C) business of India’s Reliance Industries Ltd., including the 1.24 million barrels-a-day Jamnagar refining complex on the country’s west coast. Reliance values its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the … Read more
SKC of South Korea and Petrochemical Industries Company (PIC) of Kuwait have agreed to establish a propylene chemicals joint venture worth $1.2 billion. PIC will hold a 49 percent stake worth $476.2 million in the new company whereas South Korea’s SKC will hold the other 51 percent. SKC confirmed it will spin off its operations … Read more
INEOS Styrolution, the global leader in styrenics, today announces that the company hosted a groundbreaking ceremony for its new 100kt ASA (acrylonitrile styrene acrylate) plant in Bayport, Texas. The development of the new site is part of a bigger expansion plan for the Americas, which includes increased ABS (acrylonitrile butadiene styrene) capacity at the Altamira … Read more
Huntsman Corporation announced on Friday that it has entered into a definitive agreement to sell its chemical intermediates businesses, which includes PO/MTBE, and its surfactants businesses to Indorama Ventures in a transaction valued at $2.076 billion. The transaction comprises a cash purchase price of $2.0 billion plus the transfer of up to approximately $76 million … Read more
Air Products announced it has been awarded a contract by POSCO Chemical to supply on-site nitrogen to a new anode material manufacturing site being built in Sejong, South Korea. POSCO Chemical is an affiliate of POSCO Group, the largest integrated steelmaker in Korea and one of the largest in the world. “We are honored to … Read more
India has increased the cost estimate of the planned refinery and petrochemical project to be jointly built with Saudi Aramco and Abu Dhabi National Oil Co by more than 36%, after protests by farmers forced the relocation of the plant, as reported by Business Today. The 1.2 million bpd coastal refinery in the western state … Read more