The Board of directors of Indokem Limited has considered and approved a Revised Scheme of Amalgamation under Section 230 to 232 and other applicable provisions of India’s Companies Act, 2013 and the rules framed thereunder. The Scheme provides for Amalgamation of Refnol Resins and Chemicals Limited with Indokem and their respective Shareholders. The Scheme is … Read more
Apollo Global Management and Alain de Krassny announced that they have entered into exclusive negotiations for the sale of the Kem One Group to funds managed by affiliates of Apollo. These discussions are taking place through De Krassny GmbH and the Apollo Funds. This proposed sale, for which the two parties signed a put option … Read more
DCM Shriram receives the board of directors’ approval for acquiring 1,732,500 equity shares of Shriram Axiall (SAPL) from Axiall LLC, which is an entire 50% of the paid-up share capital held by Axiall LLC in the joint venture. Shriram Axiall (SAPL) is a 50:50 joint venture between the company and USA-based Axiall LLC. In its … Read more
Apcotex Industries Limited, one of the leading manufacturers of Synthetic Latex and Rubber in India, is planning to expand capacity at its Valia plant in Gujarat by around 70,000 MTPA. The new project will include an increase in production capacity of Synthetic Rubber (SBR) between 30,000 MTPA to 32000 MTPA to fulfill demand of automobile … Read more
Apollo Global Management Inc, a private equity firm has approached pigment manufacturer Tronox Holdings Plc, with a $4.3 billion all-cash offer, according to a news report by Reuters. Apollo has offered $27 per share to buy Stamford, Connecticut-based Tronox. The pigment manufacturer has hired advisers to consider the bid and has yet to decide on … Read more
Braskem has signed a memorandum of understanding (MOU) with the SCG Chemicals to perform studies to jointly invest in a new bio-ethanol dehydration plant in Thailand to produce bio-ethylene and I’m greenTM bio-based Polyethylene. If implemented, this cooperation could double the existing capacity of I’m greenTM bio-based PE. “Amidst the ever-increasing demand for circular economy … Read more
Shell Ventures BV and BlueAlp Holding BV announced a strategic partnership to develop, scale and deploy BlueAlp’s plastic waste to chemical feedstock technology. The technology transforms plastic waste which is tough to recycle into a recycled feedstock (i.e., pyrolysis oil) that can be used to make sustainable chemicals. Shell has taken a 21.25% equity stake … Read more
Shree Ganesh Remedies Ltd announced that its Board of Directors have decided to enter into the Share Purchase Agreement to acquire the 74% stake of Dhari Chemicals Limited (DCL). DCL was incorporated to carry on the business of manufacturing of speciality chemicals, chemical compounds (organic and in-organics) in all forms (solid, liquid and gaseous) and … Read more
Mitsubishi Corporation and Shell Canada have signed a Memorandum of Understanding relating to the production of low-carbon hydrogen through the use of carbon capture and storage (CCS) near Edmonton, Canada. Mitsubishi aims to build and start-up the low-carbon hydrogen facility near the Shell Energy and Chemicals Park Scotford towards the latter half of this decade, … Read more
LyondellBasell announced it is weighing strategic options for its Gulf Coast-based Refining Segment, including a potential sale. “While the Houston Refinery is a valuable, well-performing asset, we have long held the belief that it may be even more valuable as part of a larger refining system,” said Bob Patel, CEO of LyondellBasell. “To that end, … Read more
Polytek Development Corp., a manufacturer of specialty polymers, announced today the acquisition of Specialty Resin & Chemical. Polytek is a portfolio company of Arsenal Capital Partners. Founded in 2007 and located in Dowagiac, MI, Specialty Resin & Chemical is a supplier of user-friendly mold making, casting, and coating products, including bar top epoxy resin and … Read more
PPG announced that it expects sales volumes in the third quarter 2021 will be lower by $225 million to $275 million, compared to what the company anticipated at the start of the third quarter. PPG’s sales volumes are being impacted by the increasing disruptions in commodity supplies; further reductions in customer production due to certain … Read more
Neogen Chemicals Limited has announced that the Phase I commercial production for manufacturing of organic chemicals has commenced at full scale successfully at its Greenfield facility in Dahej Special Economic Zone (SEZ). The Phase I of Greenfield facility at the SEZ in Dahej is set to double Neogen’s organic chemical manufacturing capacity. The facility will … Read more
Sadara Chemical Company (Sadara) announces mechanical completion of its Ethylene Oxide /Propylene Oxide (EO/PO) Pipeline and Distribution Center Project for providing feedstock to tenants in the adjacent value park, PlasChem Park. The two parallel feedstock pipelines will distribute EO and PO feedstock to various business tenants in PlasChem Park, enabling them to produce diversified specialty … Read more
Kemira announces a significant investment in the production of alkenyl succinic anhydride sizing agent (ASA) in China. ASA is one of the most effective and cost-efficient sizing agents for improving water-resistance in paper and packaging board. This investment into an additional, third production line at the company’s state-of-the-art Nanjing site in the Jiangsu province, will … Read more
Royal DSM announced signing an agreement to acquire First Choice Ingredients, a leading supplier of dairy-based savory flavorings for an enterprise value of US$453 million. This transaction represents an EV/EBITDA multiple of 19.8x based on the estimated 2021 Adjusted EBITDA. The estimated 2021 sales amount to about US$75 million. With headquarters in Germantown (WI, USA) … Read more
LG Chem Ltd. will partner with biodiesel company Dansuk Industrial to establish a joint plant, in order to secure bio-materials required for the production of eco-friendly products. LG Chem announced that it had signed a Heads of Agreement (HOA) for the establishment of a hydro-treated vegetable oil (HVO) joint venture at the Dansuk Industrial headquarters … Read more
Chemplast Sanmar announced that it has redeemed, on 31st August 2021, the entire outstanding non-convertible debentures (NCDs) that were issued in December 2019 by the company. The redemption of these NCDs amounting to Rs 1238.25 crores ($169.5 million), which was part of the objects of the primary issue, was made using the net proceeds of … Read more
South Korean petrochemical producer SK Global Chemical (SKGC) will rebrand itself as SK Geo Centric (SKGC) as it moves to transform its business portfolio to focus more on eco-friendly products such as recyclable plastics. Under its initial action plan, the company will inject about 5 trillion won (~$4.3 billion) to roll out more eco-friendly materials … Read more
Arkema S.A. signed an agreement related to the acquisition of Ashland Global Holdings Inc.’s Performance Adhesives business for $1.65 billion. The company said that the acquisition is perfectly aligned with the Group’s ambition to become a pure Specialty Materials player by 2024. With estimated sales of around $360 million and an estimated EBITDA at a … Read more