kemicalinfo Tata Chemicals on Thursday said it has acquired the remaining 25 per cent stake in Tata Chemicals (Soda Ash) Partners Holdings for $195 million. Following the transaction, Tata Chemicals ownership in Tata Chemicals (Soda Ash) Partners has increased to 100 per cent. “Tata Chemicals, through its wholly-owned subsidiary Valley Holdings Inc, has acquired the remaining … Read more
BASF SE announced that it has entered a deal to sell its construction chemicals business to Lone Star Funds, a global private equity firm for 3.17 billion euros ($3.5 billion). The deal, which has immediate effect upon BASF’s reporting, is expected to close in the third quarter of 2020, according to the statement. The deal … Read more
Specialty chemical company Ecolab Inc. will merge its upstream energy business, Nalco Champion LLC with oilfield services provider Apergy Corp. The combined entity is expected to have pro forma sales of roughly $3.5 billion for the year and adjusted EBITDA of about $615 million, according to a Dec. 19 news release. The deal values Nalco … Read more
PolyOne Corp. announced that it had made a deal with Clariant AG to buy its masterbatches business for $1.45 billion. The deal is set for completion in the third quarter of 2020. The transaction values the Clariant business at $1.56 billion, representing roughly 11.1 times the annual earnings before interest, taxes, depreciation and amortization (EBITDA). … Read more
Hitachi Ltd said on Wednesday it would sell its listed chemicals business to electronic materials maker Showa Denko as the Japanese industrial conglomerate overhauls its business portfolio. Hitachi will sell its 51% stake in Hitachi Chemical for 494 billion yen ($4.51 billion) to Showa Denko. Hitachi Chemical is a supplier of materials for semiconductors, displays … Read more
Sasol announced that the LCCP Ethane Cracker is increasing production rates following the successful replacement of the acetylene reactor catalyst. Sasol’s Ethane Cracker achieved beneficial operation in August 2019 but has run approximately 50 – 60% of nameplate capacity due to underperformance of the plant’s acetylene removal system. The company stated that the issue has … Read more
Ferro Corporation announced it has entered into a definitive agreement to sell its Tile Coatings Business to Pigments Spain, S.L., a company of the Esmalglass-Itaca-Fritta group, which is a portfolio company of Lone Star Funds. The deal was for $460 million in cash, with the potential for an additional $32 million in cash based on … Read more
IFF and DuPont announced that they have entered into a definitive agreement for the merger of IFF and DuPont’s Nutrition & Biosciences (N&B) business in a Reverse Morris Trust transaction. The deal values the combined company at $45.4 billion on an enterprise value basis, reflecting a value of $26.2 billion for the N&B business based … Read more
Evonik’s joint venture with Chinese company Wynca – Evonik Wynca (Zhenjiang) Silicon Material Co., Ltd. has officially started the construction on a new fumed silica plant in Zhenjiang, Jiangsu Province, China. Together with the business partners, representatives from local government and media, Evonik and Wynca took part in a ground-breaking ceremony on December 10th in … Read more
Trinseo announced the initiation of a joint development project with Fernholz – a leading manufacturer of plastics packaging – to develop a high-quality Polystyrene (PS) product composed of 25% recycled material through a chemical recycling dissolution process. The collaboration is expected to have commercial viability by mid-year 2020. Trinseo announced at the industry renown K … Read more
The Abu Dhabi National Oil Company (ADNOC) signed a framework agreement with Reliance Industries to explore development of an Ethylene Dichloride facility in Ruwais. The agreement was signed by Mr. Abdulaziz Alhajri, Executive Director of ADNOC’s Downstream Directorate, and Mr. Nikhil R. Meswani, RIL Executive Director. Under the terms of the agreement, ADNOC and RIL … Read more
Baltic Chemical Plant LLC (BCP), a wholly-owned subsidiary of RusGasDobycha, has selected Univation Technologies’ UNIPOL PE Process for six reactor lines to be located at the Ust-Luga marine port located in Leningradsky Region, Russia. With maximum product flexibility in mind, each UNIPOL PE Reactor line is designed for a world-scale capacity of 500,000 TPY, yielding … Read more
LG Chem will be backed by South Korea’s state lenders with $5 billion in policy loans to finance its expansion in secondary battery factories across the world over the next five years as a part of the government push to promote battery business. LG Chem signed an agreement with Korea Development Bank, Export-Import Bank of … Read more
Honeywell announced that it will provide UOP’s C3 Oleflex technology to Shandong Binhua New Material Co to produce 600,000 MT per year of polymer-grade propylene for a proposed plant in China. Honeywell UOP will provide services, equipment, catalysts and adsorbents for the Shandong plant. The project marks the 25th award for C3 Oleflex technology in … Read more
Huntsman Corporation announced its agreement to acquire Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from an affiliate of FFL Partners, LLC. Icynene-Lapolla has annual revenues of approximately $230 million with two manufacturing facilities located in Houston, Texas and Mississauga, Ontario. Under terms … Read more
Nissan Chemical Corporation announced the acquisition of the Quinoxyfen product line of fungicides from Corteva, Inc. The transaction includes all brands, including Quintec and Fortress and associated inventories. Quinoxyfen is a protectant fungicide highly effective in controlling powdery mildew in cereals, grapes, stone fruits, and vegetables such as cucurbits. It has a unique mode of … Read more
Indorama Ventures Public Company Limited (IVL), a global chemical manufacturer, has acquired Green Fiber International Inc. (GFI), a recycling company in Fontana, California, USA. The facility produces Recycled Polyethylene Terephthalate (rPET) Flakes. The acquisition has a combined capacity of 40,000 tonnes/annum. Green Fiber International Inc. offers high-quality recycled PET bottle flakes for food contact to … Read more
Oil and Natural Gas Corp. (ONGC) has shelved its stake sale plans for ONGC Petro Additions Ltd (OPaL) unable to attract a strategic partner, Livemint reported. OPaL, a joint venture between ONGC (49.4%), GAIL (India) Ltd (49.2%) and Gujarat State Petroleum Corp. Ltd (1.4%), has set up a grass root mega petrochemical complex at Dahej, … Read more
The cost of oil and petrochemicals refinery project to be built jointly by Saudi Aramco and Abu Dhabi National Oil Co. (ADNOC) in India is expected to reach $70 billion, WAM news agency reported on Wednesday. A joint economic council between the United Arab Emirates and Saudi Arabia reviewed the planned plant on Wednesday at … Read more
Posco Chemical Co., a unit of South Korean steel giant Posco, will invest 125.4 billion won ($107.7 million) to ramp up annual production capacity of lithium-ion secondary battery anode materials to 66,000 tons to promptly respond to burgeoning demand from the electric vehicle market. The company said Monday that its board of directors approved its … Read more