Reliance Industries Ltd., one of the world’s largest petrochemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Petrochemicals Segment Q1 Results- QoQ The segment’s net profit declined 25% to Rs 4,430 crores ($592.2 million) for the period ended June 30, 2020 as against net profit of Rs 5,938 … Read more
Indian Oil Corporation and Total announced the formation of a 50:50 Joint Venture (JV) company that will manufacture and market high-quality bitumen derivatives and specialty products for the growing road-building industry in India. Total is the leading bitumen manufacturer and supplier in Europe, while Indian Oil is the largest player in the Indian bitumen market. … Read more
Chambal Fertilisers & Chemicals Ltd., a fertilizer and chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit increased 51.2% to Rs 298.78 crores ($40 miilion) for the period ended June 30, 2020 as against net profit of Rs 197.55 crores ($26.4 … Read more
Sasol Ltd. has signed an exclusive negotiation agreement for Air Liquide to acquire the biggest oxygen-production site in the world located in Secunda in South Africa. The agreement is in line with Sasol’s plan to reduce its emissions of CO2. In this context, Air Liquide would operate the 16 air separation units (ASU) of this … Read more
Navin Fluorine International Ltd., an organo-fluorine chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit declined 79.5% to Rs 56.02 crores ($7.5 million) for the period ended June 30, 2020 as against net profit of Rs 272.69 crores ($ million) for … Read more
GHCL Ltd., a basic chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit declined 85% to Rs 12.95 crores ($1.7 million) for the period ended June 30, 2020 as against net profit of Rs 84.86 crores ($11.4 million) for the previous … Read more
Hanwha Group is seeking to acquire a 50% in an ethane cracking center (ECC) of Sasol’s Lake Charles complex in Louisiana, according to a Business Korea report. The acquisition is estimated to cost around 3.4 billion, according to industry sources. Hanwha Group has reinforced its financial power with support from local financial firms. Hanwha Solutions … Read more
Asian Paints Ltd., a paints and coatings manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit declined 53% to Rs 218.45 crores ($29.2 million) for the period ended June 30, 2020 as against net profit of Rs 461.89 crores ($61.7 million) for … Read more
Funds advised by SK Capital Partners, LP a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, announced it has signed a definitive agreement to acquire the specialty polymers business from Baker Hughes. The financial terms of the deal have not been disclosed. The specialty polymers business, with manufacturing operations in Barnsdall, … Read more
Atul Ltd., a chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit declined 17% to Rs 117.78 crores ($15.7 million) for the period ended June 30, 2020 as against net profit of Rs 141.25 crores ($18.9 million) for the previous quarter. … Read more
Partners Group, an investment manager, has on behalf of its clients agreed to acquire a major equity stake in Rovensa, a leading provider of specialty agrochemicals, from Bridgepoint, a major international private equity group. The transaction values the Company at an enterprise value of around EUR 1 billion (USD 1.17 billion). Following the investment, Partners … Read more
Asahi Songwon Colors Ltd., a pigments manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit grew 57% to Rs 9.53 crores ($1.3 million) for the period ended June 30, 2020 as against net profit of Rs 6.07 crores ($0.87 million) for the … Read more
Evonik and Swedish manufacturer, Perstorp, expanded the sales and distribution of ProPhorce SR 130 to the Indian subcontinent: India, Nepal, Sri Lanka, Bangladesh and Pakistan to further strengthen the partnership. The move follows the announcement in May of Evonik’s exclusive distribution of the product in sub-Saharan Africa. The latest development will intensify the sales, marketing … Read more
Indo Amines Ltd., an alkyl amine chemicals manufacturer based in India announced its results for the quarter and financial year ended March 31, 2020. Q4 Results The company’s net profit decreased 78% to Rs 1.51 crores ($0.2 million) for the period ended March 31, 2020 as against net profit of Rs 6.77 crores ($0.9 million) … Read more
GCL-Poly, one of the world’s top producers of polysilicon – a key ingredient for solar PV (Photovoltaics) cells – shut a major plant in China after it suffered a series of blasts, according to sources. The explosion reportedly has taken more than 10% of the global supply of the solar power raw material out of … Read more
Himadri Speciality Chemical Ltd., a specialty chemicals manufacturer based in India announced its results for the quarter and financial year ended March 31, 2020. Q4 Results The company’s net profit decreased 5.3% to Rs 70.81 crores ($9.5 million) for the period ended March 31, 2020 as against net profit of Rs 74.74 crores ($10 million) … Read more
SK Capital, which manages a growing portfolio of companies focused on the specialty materials, chemicals, and pharmaceuticals sectors, has acquired a majority interest in Techmer PM LLC, a designer and producer of engineered compounds and colour and additive concentrates for the plastics and fibre industries. The financial terms of the deal have not been disclosed. … Read more
Ishan Dyes & Chemicals Ltd., a dyes and dyestuff manufacturer based in India announced its results for the quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit decreased 38.6% to Rs 1.69 crores ($0.23 million) for the period ended June 30, 2020 as against net profit of Rs 2.75 crores ($0.37 million) … Read more
Celanese Corp. (Dallas, Tex.) announced it has reached a definitive agreement to sell its 45% equity investment in the Polyplastics joint venture (JV) to Daicel Corporation for $1.575 billion. Following the completion of the transaction, Daicel will own 100% of Polyplastics. Celanese’s Engineered Materials presence in Asia is significantly greater now than when the Company … Read more
Linde announced that it has signed a Memorandum of Understanding (MoU) with Beijing Green Hydrogen Technology Development Co., Ltd., a subsidiary of China Power International Development Ltd., to jointly promote the application and development of green hydrogen in China. Under the terms of the MoU both companies will collaborate on a variety of green hydrogen … Read more