Lanxess, a specialty chemicals company is selling its organic leather chemicals business to TFL Ledertechnik GmbH. TFL is a global supplier of leather chemicals and a portfolio company of US investment company Black Diamond Capital Management, L.L.C. Both companies signed an agreement to this effect on August 12, 2020. The purchase price comprises a fixed … Read more
DCM Shriram Industries 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 dropped 80.4% to Rs 5.09 crores ($0.68 miilion) for the period ended June 30, 2020 as against net profit of Rs 25.98 crores ($3.5 miilion) for the … Read more
Royal Dutch Shell plans to buy a 50% stake in Indian-based Nayara Energy’s $9 billion planned petrochemical project, according to a Reuter’s report. Global oil majors are looking at expanding foothold in the vast Indian market, where local refiners are investing billions of dollars to boost their petrochemical capacities. They are looking to meet an … Read more
S H Kelkar and Company Ltd., a fragrances and flavours manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit increased 23.2% to Rs 14.81 crores ($2 miilion) for the period ended June 30, 2020 as against net profit of Rs 12.02 crores … Read more
Nouryon has selected Green Bay, Wisconsin, US as the location for a new facility to produce its Expancel expandable microspheres. The expansion project, which was announced last year, strengthens the company’s position in expandable microspheres, which are used to make customers’ end products lighter and reduce costs. “This new plant will meet the fast-growing demand … Read more
Galaxy Surfactants Ltd, a surfactants manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit dropped 10% to Rs 56.49 crores ($7.5 miilion) for the period ended June 30, 2020 as against net profit of Rs 62.80 crores ($8.4 miilion) for the previous … Read more
UPL Ltd. announced the opening of a new, state-of-the-art research and development hub in Research Triangle Park, NC, USA. The OpenAg Center, located in the Alexandria Center for AgTech – Research Triangle at 5 Laboratory Drive, will enable UPL to leverage its advanced R&D capabilities in partnership with other innovation based companies to characterize, develop … Read more
Johnson Matthey, a global chemicals and sustainable technologies group receives funding for a new battery materials plant in central Poland from two leading development banks. The joint financing comprises a €90 million ($105.56 million) loan from the European Bank for Reconstruction and Development and a €45 million ($52.78million) loan from KfW IPEX-Bank. Johnson Matthey will … Read more
Transpek Industry 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 dropped 84.4% to Rs 3.77 crores ($0.5 miilion) for the period ended June 30, 2020 as against net profit of Rs 24.21 crores ($3.2 miilion) for the previous … Read more
President Hassan Rouhani of Iran on Thursday inaugurated the world’s largest methanol producing plant in the country’s southern province of Bushehr through a ceremony held via videoconference, according to a news report by Tasnim News Agency. President Rouhani simultaneously ordered the opening of two energy projects in Bushehr and one in the western province of … Read more
Sudarshan Chemical Industries Ltd., a pigments 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 dropped 33.4% to Rs 18.19 crores ($2.4 miilion) for the period ended June 30, 2020 as against net profit of Rs 27.30 crores ($3.6 miilion) … Read more
BASF has acquired land, buildings and assets of SPC (Sinopec Shanghai Petrochemical Company, Ltd., China), related to alkoxylates production, adjoining the BASF Jinshan site, in order to fulfil the growing demand from customers across Asia Pacific, especially China. With the current alkoxylate line in the Care Chemicals Jinshan plant running at full capacity, this acquisition … Read more
Sibur, Russia’s largest petrochemicals producer may use money from the country’s National Wealth Fund to help finance the construction of its planned Amur Gas Chemical Complex, as per Reuter’s report. After increasing the scale of the gas chemical complex in Russia’s Far East, Sibur expects to invest $10-$11 billion, a rise from initial estimates of … Read more
Indorama Ventures Ltd. (IVL) announced that it has, through its indirect subsidiary Indorama Netherlands B.V., signed a Conditional Share Purchase Agreement with O.R.V. Ovattificio Resinatura Valpadana S.P.A. and OPOKA LTD., to acquire a 100% equity stake of Industrie Maurizio Peruzzo Polowat spółka z ograniczoną odpowiedzialnością (IMP Polowat), a limited-liability company incorporated under the laws of … Read more
Indian Oil Corporation Ltd (IOCL)., one of the major petrochemicals manufacturers based in India announced its results for the first quarter ended June 30, 2020. Petrochemicals Segment Q1 Results- QoQ The company’s net profit declined 6% to Rs 495.1 crores ($65.9 million) for the period ended June 30, 2020 as against net profit of Rs … Read more
Indian Oil Corp., announced that it will build an integrated para-xylene (PX) and purified terephthalic acid (PTA) complex at Paradip, Odisha, India, with an investment of Rs 138 billion ($1.8 billion). The company expects to bring it online in early 2024. The petrochemicals complex will have a PX production capacity of 800,000 tonnes per year, … Read more
Linde India Ltd., an Indian subsidiary of industrial gas manufacturer Linde Plc announced its results for the second quarter ended June 30, 2020. CY 2020 Q2 Results- QoQ The company’s net profit declined 49.3% to Rs 19.80 crores ($2.6 million) for the period ended June 30, 2020 as against net profit of Rs 39.03 crores … Read more