Indorama gets $300 Million Loan from IFC to Raise Recycling Capacity

The International Finance Corporation (IFC) has extended its maiden blue loan worth $300 million to Thailand-based Indorama Ventures, a leading plastic resin manufacturer, to fight marine pollution in Asia and Latin America. Indorama will utilise the loan to recycle 50 billion PET (polyethylene terephthalate) bottles globally per annum by 2025, with focus on Thailand, Indonesia, … Read more

Solvay to Sell Barium, Strontium, Sodium Percarbonate Businesses to PE Firm

Solvay announced that it has reached an agreement with private equity firm Latour Capital to sell its technical-grade barium and strontium business in Germany, Spain and Mexico as well as its sodium percarbonate business in Germany. Solvay’s barium and strontium business includes a joint venture with Chemical Products Corporation (CPC), which is part of the … Read more

Sudharshan Chemical Targets No.3 Spot in Global Pigment Manufacturing

Sudarshan Chemical Industries Ltd (SCIL), the largest pigment manufacturer in India (with >35% market share) is aiming to achieve the top 3rd position globally by market share by focusing on its core business, developing R&D, expanding to new markets, and improving manufacturing and operations. Currently, SCIL is the fourth-largest pigment manufacturer by market share, globally. … Read more

Ineos Buys Out Sasol in Gemini HDPE JV for $404 Million

Ineos Olefins and Polymers USA has agreed terms to acquire Sasol’s 50% stake in their joint venture, Gemini HDPE LLC for $404 million, thereby, becoming 100% owner of the asset. Gemini is a toll-manufacturer of bimodal high-density polyethylene (HDPE) products serving rapidly growing pipe and film markets. Gemini HDPE plant, which has a capacity of … Read more

Bodal Chemicals to Deversify into Benzene Downstream, Expands Sulphuric Acid Capacity

Bodal Chemicals Ltd announced diversification into Benzene downstream products and expansion of Sulphuric Acid & Derivatives. The company intends to build a benzene plant with 55,000 MTPA capacity and expand Sulphuric Acid capacity to 340,000 MTPA at Saykha GIDC, Bharuch, Gujarat. The company said that these products will further enhance ‘Specialty Chemicals Segment’ for Bodal … Read more

Invista Completes Nylon 6,6 Capacity Expansion in Shanghai

Invista has completed its nylon 6,6 polymer capacity expansion at its polymer plant at the Shanghai Chemical Industry Park (SCIP). The company added a 40,000 ton per year capacity bringing the plant’s total capacity to 190,000-ton per year. “This new polymer capacity is part of Invista strategic investments to supply the strong local and regional … Read more

Clariant Chemicals Reports Rs 191.8 Cr Net Profit for Q2 FY20-21

Clariant Chemicals Limited., an Indian subsidiary of specialty chemicals gaint Clariant AG announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company reported a net profit of Rs 191.8 crores for the period ended September 30, 2020 as against net profit of Rs 2.7 crores for the previous quarter. … Read more

Nexus Fuels, Shell Sign Supply Deal for Plastic Liquid Feedstock to Produce Chemicals

Nexus Fuels LLC (Nexus) and Shell announced a supply agreement, for 60,000 tonnes over four years, of pyrolysis liquid made from plastic waste, which is then converted into chemical products. Nexus, a leader in plastic waste molecular recycling, will supply fully circular, ISCC Plus-certified product from its plant in Atlanta. This enhanced collaboration follows a … Read more

Southern Petrochemicals Reports Rs 12.33 Cr Net Profit for Q2 FY20-21

Southern Petrochemicals Limited., a fertilizer manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit dropped 7.6% to Rs 12.33 crores for the period ended September 30, 2020 as against net profit of Rs 13.34 crores for the previous quarter. Net sales grew … Read more

BASF PETRONAS Chemicals to Close Butanediol Plant in Malaysia

BASF PETRONAS Chemicals Sdn Bhd (BPC), a joint venture between Germany’s BASF and Malaysia’s PETRONAS Chemicals Group Berhad (PCG) said it will close its butanediol (BDO) and derivatives plant at Kuantan, Malaysia, as part of its product portfolio realignment. The closure will take effect in March 2021, but will not impact other plants within the … Read more

Ganesh Benzoplast Reports Rs 9.55 Cr Net Profit for Q2 FY20-21

Ganesh Benzoplast Limited., an organic chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit dropped 33.1% to Rs 9.55 crores for the period ended September 30, 2020 as against net profit of Rs 14.27 crores for the previous quarter. Net sales … Read more

Croda to Acquire Iberchem for $973 Million

Croda International Plc agreed to buy Iberchem for 820 million euros ($973 million) as Europe’s largest cosmetic-ingredients maker expands into highly competitive fragrances market. Croda said on Wednesday it plans to raise 600 million pounds ($798 million) in equity to help pay for the purchase of the asset from private equity firm Eurazeo SE. Iberchem … Read more

Roth Capital Partners’ SPAC Acquires Plastics Recycler PureCycle Technologies

Roth CH Acquisition I Co. announced that it has acquired polypropylene (PP) recycling firm PureCycle Technologies in a deal that values PureCycle’s post-transaction equity at about $1.2 billion. Under the deal, a new holding company named PureCycle Technologies Inc. will be created and listed on the Nasdaq exchange under the symbol ‘PCT.’ The deal includes … Read more

GAIL’s Petrochemicals Segment QoQ Sales Grew 37.9% for Q2 FY20-21

GAIL Ltd., state-owned petrochemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Petrochemicals Segment Q2 Results- QoQ The segment’s net profit grew to Rs 176.31 crores for the period ended September 30, 2020 as against net loss of Rs 154.43 crores for the previous quarter. Net sales increased … Read more

Valiant Organics Reports 24.4% Net Profit Growth for Q2 QoQ FY20-21

Valiant Organics Limited., a specialty chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit increased 24.4% to Rs 30.7 crores for the period ended September 30, 2020 as against net profit of Rs 24.68 crores for the previous quarter. Net sales … Read more

Final LDPE Unit at Sasol’s Lake Charles Complex Reaches Beneficial Operation

Sasol’s low-density polyethylene (LDPE) unit at the Lake Charles Chemicals Complex (LCCP) at Louisiana, USA, reached beneficial operation on November 15. The LDPE unit is the seventh and final LCCP unit to come on line. The LCCP is now 100% complete with total capital expenditure forecast to be within the previously communicated guidance of $12.8-billion. … Read more

Elementis Rejects Minerals Technologies All-cash $819 Million Offer

Elementis PLC, a British speciality chemicals company has rejected Minerals Technologies Inc’s all-cash buyout offer as the valuation for the company of $819 million was too low. The offer would represent a premium of 31% to Elementis’s closing price of 81.70 on November 4, the day before the approach.  With 580.8 million shares in issue, … Read more

Grasim Sells Indo Gulf Fertilizers to Indorama for $355 Million

Grasim Industries has decided to sell its fertilizer business to Indorama Corporation for Rs 2649 crore ($355 million). The flagship company of Aditya Birla Group on Thursday approved the divestment of its fertilizer business, Indo Gulf Fertilizers (IGF), by way of a slump sale to Indorama India Pvt Ltd (IIP), a subsidiary of Indorama Corporation … Read more

Indo Amines Reports 69.2% Net Profit Growth for Q2 YoY FY20-21

Indo Amines Limited., a manufacturer of organic amine-based fine chemicals, specialty and performance chemicals announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit increased 165% to Rs 6.65 crores for the period ended September 30, 2020 as against net profit of Rs 2.51 crores for the … Read more

WR Grace Licenses Unipol PP Tech to Rosneft, Pertmania JV in Indonesia

W. R. Grace & Co. has licensed its UNIPOL PP Process Technology to PT Pertamina Rosneft Pengolahan dan Petrokimia (PRPP), a joint venture between Indonesia’s PT Pertamina and Russia’s Rosneft Oil Company. The UNIPOL PP facility, located in Tuban, Indonesia, will include two lines, each designed to produce 580 000 ton per year for a … Read more