Lords Chloro Alkali Ltd., a chlor-alkali manufacturer based in India announced its results for the quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit grew 297% to Rs 2.03 crores ($0.27 million) for the period ended June 30, 2021 as against net profit of Rs 0.51 crores ($0.07 million) for the previous … Read more
Basic Chemical Industries Co. (BCI) signed a non-binding letter of intent (LoI) with the companies owning Union Chlorine LLC for the acquisition of a 49% stake, according to a stock exchange filing. The financial details of the deal were not disclosed. Union Chlorine LLC is a chlor-alkali manufacturer based in Abu Dhabi, United Arab Emirates. … Read more
Lotte Chemical Co., a South Korean petrochemical major, said it will invest 4.4 trillion won ($3.8 billion) in the hydrogen business by 2030 to cut its carbon emissions and foster the new growth driver. Under its hydrogen growth roadmap, Green Promise 2030, Lotte Chemical said through the investment it aims to generate annual sales of … Read more
Thailand’s PTT Global Chemical (PTTGC) has agreed to buy German coating resins maker Allnex from buyout group Advent in a 4 billion-euro ($4.75 billion) deal. PTTGC said it agreed a loan agreement with its parent, PTT, an energy major, for up to 73.9 billion baht ($2.27 billion) to fund its investment. The deal values Allnex … Read more
Repsol SA is adding two new units at its petrochemicals complex in Sines, Portugal, which will increase the facility’s polypropylene and linear polyethylene and capacity by 300,000 tonnes per year each. Scheduled to be completed in 2025, the new units will be built at subsidiary Repsol Polímeros SA’s petrochemical complex at the Sines Industrial and … Read more
Axalta Coating Systems announced that it has entered into definitive agreements to acquire U-POL Holdings Limited (U-POL) from Graphite Capital Management LLP and other holders for £428 million (approx. $590 million). Founded in 1948 and based in the United Kingdom, U-POL is a leading manufacturer of repair and refinish products used primarily for automotive refinish … Read more
Indian state-cowned refiner IOC’s (Indian Oil Corp.,) board of directors has given stage one approval to build the country’s first styrene monomer (SM) plant at its Panipat refinery and petrochemical complex. The new plant will have a total capacity of 387,000 metric tons per annum. The plant will be built at an estimated cost of … Read more
Platinum Equity signed a definitive agreement to acquire Solenis, a leading global producer of specialty chemicals used in water-intensive industries, from Clayton, Dubilier & Rice (CD&R) and BASF in a transaction that implies an enterprise value for Solenis of $5.25 billion. As part of the transaction, Solenis is expected to merge with Sigura Water, an … Read more
Himadri Speciality Chemical Limited, a specialty chemicals manufacturer based in India announced its results for the final quarter & year ended March 31, 2021. Q4 Results The company’s net profit declined 68% to Rs 22.84 ($3.1 million) for the period ended March 31, 2021 as against a net loss of Rs 70.81 crores ($9.5 million) … Read more
Specialty chemicals firm Celanese announced that it entered into a definitive agreement to buy ExxonMobil Chemical’s Santoprene TPV elastomers business for $1.15 billion. Celanese will acquire the industry-renowned Santoprene brand as part of a comprehensive TPV product portfolio, along with intellectual property, production and commercial assets, and a world-class organization. ExxonMobil’s two manufacturing sites in … Read more
India Glycols Limited (IGL) and Clariant have created a new joint venture for renewable ethylene oxide (EO) derivatives, the Indian green technology-based chemicals manufacturer said on Thursday. Originally announced in March 2021, the joint venture combines IGL’s renewable bio-ethylene oxide derivatives business, which includes a multipurpose production facility including an alkoxylation plant located in Kashipur, … Read more
Abu Dhabi National Oil Company (ADNOC) announced that Reliance Industries Limited (Reliance), has signed an agreement to join a new worldscale chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi. The agreement capitalizes on growing demand for these critical industrial raw materials and leverages the strengths of ADNOC and … Read more