DuPont, a leading global innovation and technology-based company, has announced the acquisition of Spectrum Plastics Group from AEA Investors. The acquisition is expected to be completed by the end of the third quarter of 2023, subject to regulatory approvals and customary closing conditions. The purchase price of $1.75 billion will be paid from existing cash … Read more
DuPont, a leading chemical company, has reported an 8% decrease in net sales in the recent quarter. This decrease was primarily due to a 3% decline in organic sales, along with 3% currency headwinds and a 2% unfavorable portfolio impact. The decline in organic sales was largely due to a 7% decrease in volume, which … Read more
Glenfarne Energy Transition partners with Samsung Engineering for green hydrogen and ammonia projects in Chile. Glenfarne Energy Transition has entered into a collaboration agreement with Samsung Engineering to conduct feasibility studies for multiple green hydrogen and ammonia initiatives in Chile. This partnership is a part of Glenfarne’s Hydrogen Fuels Initiative, which aims to advance the … Read more
W. R. Grace & Co has achieved another significant milestone in the Asian market with the start-up of a 500 KTA polypropylene reactor line by PetroChina Guang-Dong PetroChemical Company, a subsidiary of PetroChina Group. The plant will produce homopolymer, random copolymer, and impact copolymer polypropylene resins, catering to the increasing demand for high-quality PP resins … Read more
Covestro, a leading global supplier of high-performance polymer materials, reported its first quarter 2023 results. Despite a challenging business environment and weak demand, the company exceeded its own and analysts expectations. Group sales were down 20.1% to EUR 3.7 billion, and EBITDA was 64.5% lower year over year at EUR 286 million. However, the company’s … Read more
LyondellBasell Industries N.V. (LYB) reported lower earnings for the first quarter of 2023 compared to the same period last year, primarily due to weak margins. Despite this, the company continues to anticipate a slight increase in global demand driven by seasonal trends, with transportation fuel demand expected to increase over the summer. Financial Results LyondellBasell … Read more
Linde plc, a leading global supplier of industrial gases, reported impressive first-quarter 2023 financial results, exceeding analysts’ expectations. The company’s quarterly revenues of $8,193 million also beat market estimates. Revenue Performance Linde’s total revenues for the quarter declined from the year-ago quarter’s $8,211 million. However, the company’s strong earnings were driven by increased prices and … Read more
PureCycle Technologies, Inc., announced it has reached mechanical completion of its first polypropylene purification plant in Ironton, and submitted documentation to Leidos Engineering, LLC, the site’s independent construction monitor, for formal certification of completion. PureCycle prepared the final closure documentation consistent with the requirements set forth by Lei-dos and believes the information to be complete … Read more
Bharat Petroleum Corp Ltd (BPCL), a state-owned company in India, has announced plans to invest between Rs 430-500 billion ($5.2-6.1 billion) to expand its Bina refinery and construct a petrochemical complex in central Madhya Pradesh state. BPCL has received the necessary approvals from the state government for the project. The proposed petrochemical complex is set … Read more
Petronas Chemicals Group Bhd (PCG) has reported a strong performance in 2022, despite geopolitical conflicts, market volatilities, and industry challenges. The company is now focusing on expanding its specialties portfolio after its acquisition of Sweden-based Perstorp Group. PCG’s new specialty chemicals division will manage and steer critical strategic priorities supporting the group’s long-term aspirations in … Read more
Toray Industries, a multinational corporation specializing in advanced materials and chemicals, announced the successful development of the world’s first mass-production technology for rare-earth-free zirconia balls. These highly durable balls have the ability to grind and mill ceramic materials for multilayer ceramic capacitors (MLCCs) and electrode materials for lithium-ion batteries. The technology breakthrough will enhance the … Read more
Evonik, a leading specialty chemicals company, has announced plans to double its global capacity for VESTAMID® E, a polyether block amide (PEBA) high-performance polymer. The move comes as demand for the raw material, which is used extensively in the global athletic footwear market, continues to surge. Major Expansion at Multi-User-Site in Shanghai Evonik’s capacity expansion … Read more
KBR announced that it has signed a memorandum of understanding (MoU) with Atlas Agro AG to license KBR’s innovative K-GreeN® technology for Atlas’ planned investment in a series of green nitrate plants. Under the terms of the MoU, KBR will provide technology licensing, basic engineering design, proprietary equipment, and catalyst for the plants, which will … Read more
Anupam Rasayan India Ltd, a chemical manufacturer, announced on Thursday that it has signed a letter of intent (LoI) worth $182 million (Rs 15 billion) with a leading Japanese multinational to produce and supply three high-value specialty chemicals. New Molecules for Specialised Polymers and Liquid Crystals The three molecules to be manufactured by Anupam Rasayan … Read more
Linde announced it has signed an agreement with Heidelberg Materials, one of the world’s largest building materials companies, to jointly build, own and operate a large-scale carbon capture and liquefaction facility. Carbon dioxide (CO₂) is a by-product of cement production and is estimated to be responsible for around 7% of global carbon emissions1. Through the … Read more
Flex P Films Egypt, a subsidiary of Indian flexible packaging materials company UFLEX, is set to build a new polyester resin manufacturing plant in Egypt with a total investment of $110 million. The new plant, called Flex PET, will have a production capacity of 30,000 tonnes per month and cover an area of 250,000 square … Read more
Neogen Chemicals Limited, a prominent Indian manufacturer of specialty chemicals based on Bromine and Lithium, has signed a license agreement with MU Ionic Solutions Corporation (MUIS), a joint venture between Mitsubishi Chemical Corporation (MCC) and UBE Corporation. As part of the agreement, Neogen will obtain proprietary and confidential manufacturing technology for making electrolyte solutions, which … Read more
Hainan Baling Chemical New Material Co., Ltd., a subsidiary of China Petroleum & Chemical Corporation (Sinopec), has launched production of its styrene-butadiene copolymer (SBC) project in Hainan, China, which will reach an annual production capacity of 170,000 tons. Sinopec now has the largest world’s largest production capacity of SBC plants. Baling New Material and Sinopec … Read more
BASF, a leading chemical company, announced its plan to establish compounding capacities for its certified compostable biopolymer ecovio® in Shanghai, China. The move is aimed at better supporting local customers in Asia and meeting their needs for film applications, including certified compostable shopping and organic waste bags, soil-biodegradable agricultural mulch films, and packaging. Benefits for … Read more
Chambal Fertilisers and Chemicals Limited, a leading producer of urea fertilizers in India, has recently awarded an engineering, procurement, and construction (EPC) contract to Larsen & Toubro Limited on April 5, 2023. The contract is for the Technical Ammonium Nitrate (TAN) Project, which involves setting up a new plant for the manufacture of Technical Ammonium … Read more