Shintech Louisiana LLC announced that the company will invest $1.3 billion to expand its manufacturing and packaging facilities in Iberville and West Baton Rouge, Louisiana. The company, which manufactures polyvinyl chloride resins, or PVC, says will make a $1.25 billion investment to increase PVC manufacturing capacity and expand chlor-alkali and vinyl chloride monomer capacity at … Read more
Navin Fluorine International Ltd., an Indian organo-fluorine chemicals manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit fell 12.4% to Rs 56.44 crores for the period ended December 31, 2020 as against net profit of Rs 64.42 crores for the previous quarter. Net sales dropped … Read more
SRF Limited., an Indian chemicals & allied manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 2.7% to Rs 324.25 crores for the period ended December 31, 2020 as against net profit of Rs 315.68 crores for the previous quarter. Net sales grew 2.17% … Read more
Reliance Industries Ltd has completed spin-off of the firm’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company has said. The oil-to-chemical (O2C) business unit holds Reliance’s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing fields such as … Read more
Asian Paints Limited., an Indian paints and coatings manufacturer announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 49.1% to Rs 1238.34 crores for the period ended December 31, 2020 as against net profit of Rs 830.37 crores for the previous quarter. Net sales grew … Read more
DCM Shriram Limited., a chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2020. Q3 Results- QoQ The company’s net profit increased 113.4% to Rs 252.55 crores for the period ended December 31, 2020 as against net profit of Rs 118.37 crores for the previous quarter. Net sales grew … Read more
Sumitomo Chemical has decided to establish a Carbon Neutral Strategy Council and a Carbon Neutral Strategy Cross-Functional Team on February 1, 2021, in order to promote and formulate the Sumitomo Chemical Group’s strategies for achieving carbon neutrality by 2050. Sumitomo Chemical’s approaches to carbon neutrality strategies To minimize greenhouse gas emissions associated with the Group’s … Read more
AkzoNobel competes with U.S. rival PPG Industries on Monday, by making a $1.7 billion counterbid for Finland’s Tikkurila. AkzoNobel proposal includes an offer price of 31.25 euros ($37.8) per outstanding share, valuing Tikkurila at 1.4 billion euros ($1.69 billion), exceeding the 1.2 billion euros ($1.45 billion) offered by PPG two weeks ago. To obtain merger … Read more
India’s state run oil and gas explorer ONGC’s plan to merge its refining subsidiary Mangalore Refinery and Petrochemicals Ltd ( MRPL ) with Hindustan Petroleum Corp Ltd (HPCL) has got delayed, according to a report by IANS. The process is now expected to be complete by 2024. The merger was aimed at aligning ONGC’s upstream … Read more
Linde will build, own and operate the world’s largest PEM (Proton Exchange Membrane) electrolyzer plant at the Leuna Chemical Complex in Germany. The new 24-megawatt electrolyzer will produce green hydrogen to supply Linde’s industrial customers through the company’s existing pipeline network. In addition, Linde will distribute liquefied green hydrogen to refueling stations and other industrial … Read more
Celanese Corporation announced its intent to build a world-scale, multi-phase Liquid Crystal Polymer (LCP) polymerization plant in China to support the significant growth in its high-value Vectra and Zenite LCP product lines. Site selection is underway, and Celanese is considering both existing and greenfield locations to place its new LCP facility. “5G, ‘Internet of Things’ … Read more
India’s Directorate General of Trade Remedies (DTGR) has recommended continuation of antidumping duties on phthalic anhydride imported from Russia, for another five years, as it noted that its removal may hurt the domestic industry. But, in case of Japan, it has suggested that the anti-dumping duties may be withdrawn as it was unlikely to cause … Read more
Shell will take a 40% interest in a waste-to-fuels plant using technology developed by Enerkem, a leading Canadian clean tech company. Enerkem announced the project in December 2020, subject to finalization of commercial agreements. The approximately C$875 million (US$686 million) commercial-scale facility will be constructed in Varennes, Québec, and will produce low-carbon fuels and renewable … Read more
Jindal Films has signed an agreement for the acquisition of 100% of the shares in Italy-based nylon film specialist DOMO Films Solutions Spa (DFS) from private owned group DOMO Chemicals. DFS is one of the major European producers of nylon films (both biax-oriented BOPA and cast extruded CPA) for flexible packaging in food, pharma, medical … Read more
Private equity firm OpenGate Capital is to acquire the amphoteric surfactant manufacturing business from Solvay. The acquisition is subject to the satisfaction of works council consultations and regulatory approvals. The Business is a key player in surfactants, with a focus on the production of amphoterics primarily utilised in body care, hair care, and home care … Read more
Evonik has closed its previously announced acquisition of the Lactel Absorbable Polymers product line from Durect Corporation on December 31, 2020. All Durect employees associated with the Lactel business in Birmingham, Ala., accepted the offer to join Evonik in similar roles, according to Essen, Germany-based Evonik. The deal closed Dec. 31, 2020. Evonik will integrate … Read more
INEOS completed the purchase of the global Aromatics and Acetyls businesses from BP for a consideration of $5 billion. The deal was first announced at the end of June 2020. INEOS is already one of the world’s leading petrochemical companies and this acquisition will extend both the portfolio and the geographic reach of the business. … Read more
India’s L&T Hydrocarbon Engineering on Monday said it has won an order from HPCL Rajasthan Refinery (HRRL) worth over Rs 7,000 crore ($958 million), the biggest EPCC contract in petchem sector in India. HRRL is a joint venture between Hindustan Petroleum Corporation (HPCL) and the government of Rajasthan. The EPCC contract is for setting up … Read more
Saudi-based Advanced Petrochemical Company, a key manufacturer of polypropylene products, said its subsidiary, Advanced Global Investment Company (AGIC), has signed off-take agreements for the sale of polypropylene with US-based Vinmar International and Tricon Dry Chemicals – and Mitsubishi Corporation of Japan. As per the long-term deal, AGIC will supply 250,000 metric tonnes per annum of … Read more
India may impose anti-dumping duty on the imports of Polyethylene Terephthalate (PET Resin) originating in or exported from China based on an application led by IVL Dhunseri Petrochem Industries Private Limited and Reliance Industries. The Directorate General of Trade Remedies (DGTR) has recommended anti-dumping duty of $15.54-200.66 per MT of the imported product for five … Read more