kemicalinfo Saudi Aramco signed a letter of intent for a proposed purchase of a 20% stake in the oil-to-chemicals (O2C) business of India’s Reliance Industries Ltd., including the 1.24 million barrels-a-day Jamnagar refining complex on the country’s west coast. Reliance values its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the … Read more
SKC of South Korea and Petrochemical Industries Company (PIC) of Kuwait have agreed to establish a propylene chemicals joint venture worth $1.2 billion. PIC will hold a 49 percent stake worth $476.2 million in the new company whereas South Korea’s SKC will hold the other 51 percent. SKC confirmed it will spin off its operations … Read more
INEOS Styrolution, the global leader in styrenics, today announces that the company hosted a groundbreaking ceremony for its new 100kt ASA (acrylonitrile styrene acrylate) plant in Bayport, Texas. The development of the new site is part of a bigger expansion plan for the Americas, which includes increased ABS (acrylonitrile butadiene styrene) capacity at the Altamira … Read more
Huntsman Corporation announced on Friday that it has entered into a definitive agreement to sell its chemical intermediates businesses, which includes PO/MTBE, and its surfactants businesses to Indorama Ventures in a transaction valued at $2.076 billion. The transaction comprises a cash purchase price of $2.0 billion plus the transfer of up to approximately $76 million … Read more
Air Products announced it has been awarded a contract by POSCO Chemical to supply on-site nitrogen to a new anode material manufacturing site being built in Sejong, South Korea. POSCO Chemical is an affiliate of POSCO Group, the largest integrated steelmaker in Korea and one of the largest in the world. “We are honored to … Read more
India has increased the cost estimate of the planned refinery and petrochemical project to be jointly built with Saudi Aramco and Abu Dhabi National Oil Co by more than 36%, after protests by farmers forced the relocation of the plant, as reported by Business Today. The 1.2 million bpd coastal refinery in the western state … Read more
W. R. Grace & Co., the leading independent supplier of polyolefin catalyst technology and polypropylene (PP) process technology, has licensed its Unipol PP Process Technology to Datong Coal Mine Group Co., Ltd. The Unipol PP facility, located in Datong, China, will produce 430 KTA of polypropylene and is scheduled to be completed in 2022. The … Read more
Royal Vopak, Mitsubishi Corporation, Covestro and AP Ventures invest €17 million into Hydrogenious LOHC Technologies GmbH and its Liquid Organic Hydrogen Carrier (LOHC) technology for hydrogen logistics. With its innovative Liquid Organic Hydrogen Carrier technology, Hydrogenious LOHC Technologies was able to attract further strong partners. In addition to AP Ventures, who invested in the German-based … Read more
Marubeni Corp., Marubeni Plax Corp. and Chubu Nihon Plastics Co., Ltd have signed a partnership agreement to jointly undertake a plastic recycling business and also work together on the ECONET PROJECT that Chubu Nihon promotes in order to establish a circular economy. The agreement was signed on July 26, 2019. “The problem of plastic waste … Read more
Eni and ADNOC, said they closed their strategic partnership, announced in January, through which Eni acquired a 20 percent equity interest in ADNOC refining. The partners – which include Austria’s OMV – also set up a new trading joint venture. ADNOC Refining refines in excess of 922,000 barrels per day of crude at its Ruwais … Read more
Grillo has sold its IP and know-how regarding the production of MSA from methane to BASF. BASF will utilize the acquired IP and know-how within its own R&D activities on MSA. Grillo has developed a novel process and optimized it on R&D pilot plant scale over the last years. BASF, with its global research and … Read more
BASF SE plans to invest in a second production plant for tert-butylamine (tBA) at BASF Specialty Chemicals Co. Ltd (BSNJ) in Nanjing, China. With this expansion, BASF’s global annual production capacity of tBA will increase by more than 30%. The plant is planned to start up in 2022 and will adopt advanced BASF technology which … Read more
Huntsman Corporation announced that it has signed a definitive agreement with Sasol to acquire the 50% interest that Huntsman does not own in the Sasol-Huntsman maleic anhydride joint venture. The joint venture owns a manufacturing facility in Moers, Germany with capacity to produce 100,000 metric tonnes of maleic anhydride. Huntsman will pay Sasol $92.5 million, … Read more
Clariant and SABIC have agreed to temporarily suspend the discussions on the intended business combination High Performance Materials (HPM), consisting of Clariant’s Additives and high value Masterbatches and parts of SABIC’s Specialties business. The JV talks with Saudi Basic Industries (SABIC) had been shelved due to differences over price, which comes as a further setback … Read more
Givaudan, the global leader in flavours and fragrances, announced that it is to acquire Drom to further extend its leadership in the global Fragrance market. While terms of the deal have not been disclosed, Drom’s business would have represented approximately EUR 110 million ($122.5 million) of incremental sales to Givaudan’s results in 2018 on a … Read more
Sekisui Chemical announced that Sekisui Youngbo, a consolidated subsidiary of the High Performance Plastics Company, commenced mass production and sales in May 2019. Sekisui Youngbo is a company that primarily manufactures polypropylene foams (“PP foams”) for automotive interiors; its establishment was approved by the Chinese government in April 2017. Used as an underlayment material for … Read more
Bunge Limited , a leader in agriculture, food and ingredients, announced an agreement with BP plc to form a 50:50 joint venture that will create a leading bioenergy company in Brazil. The joint venture, to be called BP Bunge Bioenergia, will operate on a stand-alone basis, with a total of 11 sites located across the … Read more
AkzoNobel has announced its intention to acquire French aerospace coatings manufacturer Mapaero. The intended acquisition will strengthen AkzoNobel’s global position in aerospace coatings, notably in the structural and cabin coating sub-segments, and contribute directly towards delivering the company’s 2020 guidance. Established in 1992 and specializing in sustainable water-based and advanced eco-friendly products, Mapaero operates a … Read more
DSM, a nutrition chemicals and materials multinational has announced it will extend the annual summer shut down period at its Jiangshan vitamin C site in China so further upgrades to the facility can be carried out. “DSM continues to invest in improving the performance of its vitamin C plant in Jiangshan, China, as part of … Read more
Toray Industries, Inc., one of the largest battery separator films manufacturer from Japan announced on 16 July the construction of a new production facility for battery separator films (BSF) for lithium-ion batteries in Nyergesújfalu, Hungary. The new manufacturing site will be affiliated with the Toray Industries Hungary area, which was established in April 2018. The … Read more