kemicalinfo Reliance Industries (RIL) announced its first investment in West Asia with Abu Dhabi Chemical Derivatives Company RSC (TA’ZIZ). According to a RIL statement, the two have agreed to launch TA’ZIZ EDC & PVC, a chemical production partnership at the TA’ZIZ Industrial Chemicals Zone in Ruwais, Abu Dhabi. “The new joint venture (JV) will construct and … Read more
GHCL announced that it entered into a business transfer agreement for divestment of its Home Textiles business to lndo Count Industries. The company said it expects to realise a consolidated sum of Rs 5.96 billion from the divestment of its business. As per the deal, the company will transfer its Home Textiles business for a … Read more
Versalis, Eni’s chemical company, has agreed to license the continuous mass technology for a 70,000 tone per year ABS unit to Supreme Petrochem Ltd. a leading Indian polystyrene and expandable polystyrene producer. The unit will be built in the Amdoshi –Wangani, District Raigad, in Maharashtra state, India. This state-of-the-art technology will produce styrenic polymers with … Read more
Baltimore-based Tilley Company, Inc., a portfolio company of SK Capital Partners, announced a merger with Phoenix Aromas and Essential Oils. Phoenix is a leading global distributor of high-quality flavor and fragrance ingredients and compounds, serving the food and beverage, personal care, pharmaceutical, air care, and fragrance markets. The combination of Tilley and Phoenix creates a … Read more
Altamira MS Holdings, a portfolio company of Edgewater Capital Partners, announced that it is continuing its investment in building a leading engineered components platform and has acquired Precision Fluorocarbon, LLC (PFI). PFI is a manufacturer of highly engineered, mission-critical PTFE components, such as custom diaphragms, bellows, and machined components, utilized primarily in semiconductor and industrial … Read more
Japan’s Mitsubishi Chemical Holdings Corp (MCHC) announced plans to exit petrochemicals and carbon products businesses on its road to carbon neutrality by 2050. Japan’s largest chemicals maker said it will “carve-out” its petrochemicals and carbon products businesses by fiscal 2023. “In the medium term it is our goal to completely exit these businesses,” CEO Jean-Marc … Read more
Standard Lithium Ltd., announced that Koch Strategic Platforms (KSP), a subsidiary of Koch Investments Group, has completed its US$100 million investment in Standard Lithium through a direct private placement. The Direct Investment is intended to support the Company’s strategic development goals and will be used by the Company to pursue the following objectives: Continue to … Read more
GranBio Technologies and Birla Carbon have been awarded $730,000 in funding from P3Nano and USFS to advance scale-up and commercial introduction of the Nanocellulose Dispersion Composite (NDC) rubber masterbatch for the tire and rubber goods markets. P3Nano is a public private partnership between the U.S. Endowment for Forestry & Communities and the USDA Forest Service … Read more
Asian Paints Ltd on Monday said it will invest Rs 9.6 billion ($127 million) to expand the manufacturing capacity of its facility situated at Ankleshwar in Gujarat. The company has signed a memorandum of understanding with the Government of Gujarat commencing the proposed expansion of manufacturing capacity of paint from 130,000 KL to 250,000 KL … Read more
Tata Chemicals Ltd. is in discussions with London-based Johnson Matthey Plc to buy the company’s battery materials business, the Mint news reported, citing two people with direct knowledge. Tata Chemicals is one of the frontrunners to acquire the assets, the two people told the Indian news daily. A deal for the battery materials unit could … Read more
INEOS Styrolution, the global leader in styrenics, has confirmed its decision to invest into a pilot plant for advanced recycling of polystyrene. The site will be set up in collaboration with Recycling Technologies in Swindon, UK. It is expected to be operational in the second half of 2022. The decision announced today is a significant … Read more
Gazprom’s Board of Directors approved a pilot project for hydrogen production in the Russian Federation. The company highlighted that the development of hydrogen energy in Russia is essential both for the decarbonization of the domestic industry and for exports to the global hydrogen market. This line of activity is becoming increasingly relevant in the context … Read more
Westlake Chemical Corporation announced that it has entered into a definitive agreement with Hexion Inc. to acquire Hexion’s global epoxy business for approximately $1.2 billion. The deal is anticipated to be completed in the first half of 2022 following customary closing conditions. With this transaction, Westlake will significantly expand its integrated business by adding a … Read more
Abu Dhabi National Oil (ADNOC) and Borealis have signed the final investment agreement for their Borouge 4 complex at Ruwais, Abu Dhabi. The deal confirms their intent to spend $6.2 billion on the project, which will consist of a 1.5 million t/y ethane cracker, two PE plants producing 1.4 million t/y and a 100,000 t/y … Read more
LG Chem Ltd. and GS Caltex will team up to jointly develop mass production technologies of eco-friendly materials for a circulating economy and carbon neutrality. LG Chem signed Joint Development Agreement (JDA) related to the development of mass production technology for 3HP (hydroxypropionic acid), which is a biodegradable plastic material, and production of prototypes with … Read more
India’s Reliance Industries (RIL) and Saudi Aramco have opted to shelve the $15 billion deal that would see the Saudi oil gaint take a 20% stake in RIL’s oil to chemicals (O2C) business. The pair signed a “non-binding Letter of Intent” in August 2019 for the sale, but RIL released a statement over the weekend … Read more
Grasim Industries Ltd., a chlor-alkali manufacturer based in India announced its results for the second quarter ended September 30, 2021. Q2 Results- QoQ The company’s net profit declined 18.5% to Rs 13.59 billion for the period ended September 30, 2021 as against net profit of Rs 16.67 billion for the previous quarter. Net sales increased … Read more
Indo Amines Ltd., a chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2021. Q2 Results- QoQ The company’s net profit declined 44.7% to Rs 39.39 million for the period ended September 30, 2021 as against net profit of Rs 71.28 million for the previous quarter. Net sales increased … Read more
PI Industries Ltd., a agrochemicals manufacturer based in India announced its results for the second quarter ended September 30, 2021. Q2 Results- QoQ The company’s net profit grew 22.6% to Rs 2.29 billion for the period ended September 30, 2021 as against net profit of Rs 1.87 billion for the previous quarter. Net sales increased … Read more
Himadri Speciality Chemical Ltd., a chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2021. Q2 Results- QoQ The company’s net profit declined 35.2% to Rs 94.1 million for the period ended September 30, 2021 as against net profit of Rs 145.1 million for the previous quarter. Net sales … Read more