Tata Chemicals Ltd., India’s leading basic chemicals manufacturer announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit grew 78% to Rs 132.09 crores for the period ended September 30, 2020 as against net profit of Rs 74.15 crores for the previous quarter. Net sales increased 11% … Read more
PI Industries Ltd., one of the leading agrochemicals manufacturers in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit grew 49.6% to Rs 217.6 crores for the period ended September 30, 2020 as against net profit of Rs 145.5 crores for the previous quarter. Net … Read more
BASF is pressing ahead with its key growth projects, particularly its planned China Verbund site and battery technology sites in Europe, CEO Martin Brudermuller said on Wednesday, despite the need to cut costs in the wake of the coronavirus pandemic. The growth potential of the projects justifies the scale of the expenditure, Brudermuller said, despite … Read more
Sudarshan Chemical Industries Ltd., India’s leading pigments manufacturer announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit grew 66.7% to Rs 30.33 crores for the period ended September 30, 2020 as against net profit of Rs 18.19 crores for the previous quarter. Net sales increased 22.2% … Read more
Univar Solutions Inc. and PVS Chloralkali Inc., a wholly owned subsidiary of PVS Chemicals Inc. (PVS), announced a new agreement where PVS will transfer railcars located in Ohio, Illinois and Virginia and sourcing agreements for Hydrochloric Acid (HCL) to Univar Solutions. “This agreement further expands Univar Solutions’ large and robust network for its HCL business … Read more
Atul Ltd., India’s leading integrated chemical manufacturer announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit grew 48% to Rs 174.35 crores for the period ended September 30, 2020 as against net profit of Rs 117.78 crores for the previous quarter. Net sales increased 43.8% to … Read more
Celanese has announced the ‘addition of a new GUR ultra-high molecular weight polyethylene production line (UHMW-PE)’ at its Bishop manufacturing complex in Texas, US. The expansion is expected to support significant growth of the company’s portfolio of GUR engineered materials. “Electric vehicle demand is expected to have a compounded annual growth rate of greater than … Read more
Asian Paints Ltd., a leading paints and coatings manufacturer announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit grew 280.1% to Rs 830.37 crores for the period ended September 30, 2020 as against net profit of Rs 218.45 crores for the previous quarter. Net sales increased … Read more
Formosa Plastics affiliate FG LA LLC said it is deferring major construction on a petrochemical facility in St. James Parish, The Advocate reported. Formosa Plastics is citing the coronavirus pandemic for its decision to delay construction work on its $9.4 billion petrochemicals project in Louisiana. A statement from the company said building won’t begin until … Read more
West Virginia Methanol has selected a site in Pleasants County in northern West Virginia, USA for a $350 million methanol plant, Washington Times reported. The plant will produce 900 metric tons per day of high-purity methanol from natural gas in the Appalachian Basin. West Virginia Methanol, with headquarters in Charleston, West Virginia, is working on … Read more
Anaven, a 50-50 joint venture of Nouryon and Atul, has received the environmental clearance for its 32,000 metric tons monochloroacetic acid (MCA) plant in Gujarat, India. Construction is due to be completed this year to supply MCA to the Indian market by the end of the year. Rob Vancko, Nouryon’s Head of MCA and Chairman … Read more
Punjab Alkalies and Chemicals Ltd. (PACL), a chlor-alkali manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company reported a net profit of Rs 3.41 crores for the period ended September 30, 2020 as against net loss of Rs 3.32 crores for the previous quarter. … Read more
Sanyo Chemical and Nippon Shokubai announced Wednesday that they have canceled their planned merger, as the coronavirus pandemic highlights their diverging strategies on a key material used in disposable diapers. “The Companies adopted a resolution to cancel the Business Integration and terminate by mutual agreement the final agreement concerning the Business Integration as of October … Read more
DCM Shriram Ltd., a chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit grew 69% to Rs 118.37 crores ($16.1 million) for the period ended Septem-ber 30, 2020 as against net profit of Rs 70.10 crores ($9.5 million) for the previous … Read more
Nova Chemicals announced that it has agreed to sell its expandable styrenics business to a subsidiary of Alpek S.A.B. de C.V. The parties expect to close the transaction in the fourth quarter. The sale of its expandable styrenics business is an important step in Nova Chemicals’ plan to focus on its olefin and polyethylene business, … Read more
Rallis India Ltd., an agrochemicals subsidiary of Tata Chemicals Ltd announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit declined 10% to Rs 82.95 crores ($11.3 million) for the period ended September 30, 2020 as against net profit of Rs 91.87 crores ($12.5 million) for the … Read more
Givaudan, a Swiss multinational manufacturer of flavours, fragrances and active cosmetic ingredients opened its new fragrance production facility in Changzhou, China. China remains a key growth market for innovative and consumer-preferred fragranced products for Givaudan which is in line with the recently announced 2025 strategy. The Changzhou production facility, costing more than CHF 100 million … Read more
Phillips Carbon Black Ltd., India’s largest carbon black manufacturer announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit grew 2187% to Rs 58.09 crores ($7.9 million) for the period ended September 30, 2020 as against net profit of Rs 2.54 crores ($0.35 million) for the previous … Read more
Arlanxeo Canada, a subsidiary of the Saudi Arabian Oil Company (Saudi Aramco), and Diamond Petrochemicals Canada, a subsidiary of Japan’s Mitsubishi, have announced the execution of an agreement between the companies, where Arlaxeo will sell its olefins business to Mitsubishi Corp. Arlanxeo’s olefins unit is located at the bio-industrial park Sarnia in Ontario, Canada and … Read more
Saudi Aramco and Abu Dhabi National Oil Co (Adnoc) are still committed to investing in the planned $44 billion west coast refinery-cum-petrochemical project, the Chairman of India’s Indian Oil Corp (IOC) said on Thursday. Saudi Aramco’s talks to buy a 20% stake in Reliance Industries Ltd’s oil-to-chemical business for $15 billion, coupled with a crash … Read more