Air Products (NYSE: APD) has reached an agreement with PBF Energy Inc. (NYSE: PBF) that include the acquisition of $530 million of five hydrogen steam methane reformers (SMR) hydrogen production plants and the long-term supply of hydrogen to PBF refiners from those already operating plants. Located in Torrance and Martinez, California and Delaware City, the … Read more
The American Chemistry Council (ACC) urged G20 leaders to lift tariffs and export restrictions to improve access to the products necessary to healthcare workers during the COVID-19 pandemic. American Chemistry Council (ACC) President and CEO, Chris Jahn, in response to the virtual G20 summit, said, “U.S. chemicals manufacturers are calling for G20 leaders to increase … Read more
Sinopec Shanghai Petrochemical Company Limited (HKEX: 00338; SSE: 600688; NYSE: SHI) announced the annual results for the twelve months ended 31st December 2019. Net sales of the company in 2019 amounted to RMB88.1 billion ($12.45 billion), a decrease of 7.90% from the previous year’s RMB95.6 million ($13.5 billion). The decrease in sales was attributed to … Read more
Mitsui Chemicals, Inc. has expanded its production facilities for meltblown nonwovens at its wholly owned subsidiary Sunrex Industry Co., Ltd. The move comes as an attempt to respond to the increasing demand for industrial-use meltblown nonwovens, and will increase the total production capacity of the Mitsui Chemicals Group for these materials by 50%. The expanded … Read more
Indorama Ventures Limited has announced that the company decided to extend the pre-construction period of the PTA-PET plant in Corpus Christi, Texas through the end of 2020. Christi Polymers LLC (CCP), a joint venture among certain subsidiaries of Indorama Ventures Holding, Alpek and Far Eastern Investment (Holding) Limited was created to acquire and complete construction … Read more
Hillenbrand, Inc. signed a definitive agreement to sell its Cimcool business to DuBois Chemicals, Inc. (DuBois) for $224 million. Hillenbrand’s wholly-owned subsidiary Milacron LLC (Milacron) entered into an Equity and Asset Purchase Agreement with DuBois, pursuant to which DuBois will acquire the Cimcool business at a purchase price of approximately $224 million in cash, subject … Read more
BASF wants to help solve the existing hand sanitizer shortage that emerged as a result of considerably increased demand due to the spread of novel coronavirus. In order to make this possible, several preconditions have been met over the past few days to enable the manufacture of medical disinfectants at the Ludwigshafen site itself. BASF … Read more
Evonik Industries AG on Thursday said it has acquired Madrid-based biotechnology company innovativeHealth Group. The transaction is due to be completed before the end of March. The financial details of the deal were not disclosed. Headquartered at the Scientific Park of Madrid (Spain), innovativeHealth’s technology platforms screen and combine natural ingredients and extracts to generate … Read more
Clariant and Floreon-Transforming Packaging Limited announced a new collaboration to further extend the performance properties and market potential of biopolymers. By combining the benefits of Clariant’s additives with Floreon’s proprietary material solutions, the partnership aims to open up additional opportunities for plastic manufacturers and brand owners to consider biopolymers as a viable, low-carbon alternative to … Read more
Sasol said on Tuesday that it aims to generate $6 billion by the end of financial year 2021 as it seeks to stabilise its balance sheet. The energy and chemicals major is battling high debt, the impact of the corona virus outbreak and falls in oil and chemical prices. Sasol said it could sell up … Read more
Huntsman has signed a $300 million deal to buy CVC Thermoset Specialties, a specialty chemical manufacturer that supplies chemicals for the industrial composites, adhesives and coatings markets. The $300 million purchase price is subject to customary closing conditions. It is an all-cash transaction, funded from available liquidity by Huntsman. Depending on the full year of … Read more
Domo Chemicals GmbH, a Germany-based materials manufacturer announced its plans to build a nylon compounding plant in Zhejiang, China in a move to increase its focus on the Asia Pacific region. The new plant will be capable of producing 50,000 ton of sustainable and innovative engineered nylon compounds each year, the company said in a … Read more
Mitsubishi Chemical Holdings Corporation (MCHC) has announced the transfer of Life Science Institute Inc’s affiliate, Qualicaps to Mitsubishi Chemical Corporation (MCC), with effect from 1 July. “Through this transfer, MCC will enable Qualicaps to provide higher value-added solutions to the global capsule market by not only strengthening manufacturing technology leveraging mutual resources and accelerating chemical … Read more
Kraton Corporation announced that it has completed the sale of its Cariflex business to Daelim Industrial Co, Ltd. for $530.0 million in cash. “We believe Daelim is well-positioned to invest in and grow the Cariflex franchise as it continues to expand its global business,” said Kevin M. Fogarty, Kraton’s President and Chief Executive Officer. “As … Read more
Nouryon reported growth in profitability in its full-year 2019 financial results, despite challenging conditions in several end markets. Adjusted EBITDA, backed by margin control and expense controls, rose by 5% to EUR1.13 billion ($1.27 billion). Revenues were marginally higher at EUR5.08 billion ($5.7 billion), as a minor volume decline was more than offset by price … Read more
Bartek Ingredients Inc has announced a 10,000 MT malic acid capacity expansion planned to be completed in Q1 2021. The expansion plan comes in support of Bartek’s goal of continuing to invest ahead of growth in the malic and fumaric acid food-grade markets. This announcement closely follows its recent expansion of 4,000 MT malic acid … Read more
Lanxess has announced that it expects its core income to decline in 2020 as the global coronavirus epidemic is expected to damage its supply chains. The company forecasts that profit before exceptional items will slash EUR 50-100 million ($56.4-112.8 million) as a result of coronavirus, with EUR20 million ($22.6 million) impact projected for the first … Read more
Symrise AG reported increase in profit for full-year 2019 on strong organic business growth. Despite higher expenses, Symrise’s EBITDA grew by 12.2 % to EUR707.2 million ($802.6 million) from prior year’s EUR630.5 million ($715.8 million). The company’s sales increased by 8.0% to EUR3,408 million ($3869 million) from prior year’s EUR3,154 million ($3580 million). The company … Read more
Lotte Chemical on March 4 suspended the operation of nine plants following an explosion at its Daesan Complex in Daesan-eup, Seosan County, South Chungcheong Province, Business Korea reported. The accident is expected to have an impact on the ethylene market. Lotte Chemical produces 4.5 million ton per year of ethylene annually at home and abroad. … Read more
Firmenich SA, a French flavors & fragrances company announced that it has entered into exclusivity with private equity firm Ardian, Tikehau Capital and family shareholders to acquire ingredients supplier Les Dérivés Résiniques et Terpéniques (“DRT”). DRT is a world leader in plant-based chemistry, mainly from pine trees, and is one of the leading suppliers globally … Read more