Lords Chloro Alkali Ltd., a chlor-alkali manufacturer based in India announced its results for the quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit grew 297% to Rs 2.03 crores ($0.27 million) for the period ended June 30, 2021 as against net profit of Rs 0.51 crores ($0.07 million) for the previous … Read more
Basic Chemical Industries Co. (BCI) signed a non-binding letter of intent (LoI) with the companies owning Union Chlorine LLC for the acquisition of a 49% stake, according to a stock exchange filing. The financial details of the deal were not disclosed. Union Chlorine LLC is a chlor-alkali manufacturer based in Abu Dhabi, United Arab Emirates. … Read more
Lotte Chemical Co., a South Korean petrochemical major, said it will invest 4.4 trillion won ($3.8 billion) in the hydrogen business by 2030 to cut its carbon emissions and foster the new growth driver. Under its hydrogen growth roadmap, Green Promise 2030, Lotte Chemical said through the investment it aims to generate annual sales of … Read more
Thailand’s PTT Global Chemical (PTTGC) has agreed to buy German coating resins maker Allnex from buyout group Advent in a 4 billion-euro ($4.75 billion) deal. PTTGC said it agreed a loan agreement with its parent, PTT, an energy major, for up to 73.9 billion baht ($2.27 billion) to fund its investment. The deal values Allnex … Read more
Repsol SA is adding two new units at its petrochemicals complex in Sines, Portugal, which will increase the facility’s polypropylene and linear polyethylene and capacity by 300,000 tonnes per year each. Scheduled to be completed in 2025, the new units will be built at subsidiary Repsol Polímeros SA’s petrochemical complex at the Sines Industrial and … Read more
Axalta Coating Systems announced that it has entered into definitive agreements to acquire U-POL Holdings Limited (U-POL) from Graphite Capital Management LLP and other holders for £428 million (approx. $590 million). Founded in 1948 and based in the United Kingdom, U-POL is a leading manufacturer of repair and refinish products used primarily for automotive refinish … Read more
Indian state-cowned refiner IOC’s (Indian Oil Corp.,) board of directors has given stage one approval to build the country’s first styrene monomer (SM) plant at its Panipat refinery and petrochemical complex. The new plant will have a total capacity of 387,000 metric tons per annum. The plant will be built at an estimated cost of … Read more
Platinum Equity signed a definitive agreement to acquire Solenis, a leading global producer of specialty chemicals used in water-intensive industries, from Clayton, Dubilier & Rice (CD&R) and BASF in a transaction that implies an enterprise value for Solenis of $5.25 billion. As part of the transaction, Solenis is expected to merge with Sigura Water, an … Read more
Himadri Speciality Chemical Limited, a specialty chemicals manufacturer based in India announced its results for the final quarter & year ended March 31, 2021. Q4 Results The company’s net profit declined 68% to Rs 22.84 ($3.1 million) for the period ended March 31, 2021 as against a net loss of Rs 70.81 crores ($9.5 million) … Read more
Specialty chemicals firm Celanese announced that it entered into a definitive agreement to buy ExxonMobil Chemical’s Santoprene TPV elastomers business for $1.15 billion. Celanese will acquire the industry-renowned Santoprene brand as part of a comprehensive TPV product portfolio, along with intellectual property, production and commercial assets, and a world-class organization. ExxonMobil’s two manufacturing sites in … Read more
India Glycols Limited (IGL) and Clariant have created a new joint venture for renewable ethylene oxide (EO) derivatives, the Indian green technology-based chemicals manufacturer said on Thursday. Originally announced in March 2021, the joint venture combines IGL’s renewable bio-ethylene oxide derivatives business, which includes a multipurpose production facility including an alkoxylation plant located in Kashipur, … Read more
Abu Dhabi National Oil Company (ADNOC) announced that Reliance Industries Limited (Reliance), has signed an agreement to join a new worldscale chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi. The agreement capitalizes on growing demand for these critical industrial raw materials and leverages the strengths of ADNOC and … Read more
DCM Shriram Limited, an Indian Chloralkali and PVC manufacturer announced its results for the final quarter & year ended March 31, 2021. Q4 Results The company’s net profit declined 25% to Rs 19.51 ($2.6 million) for the period ended March 31, 2021 as against a net loss of Rs 25.98 crores ($3.5 million) for the … Read more
Bodal Chemicals Ltd, a specialty chemicals manufacturer based in India announced its results for the final quarter & year ended March 31, 2021. Q4 Results The company’s net profit grew 3% to Rs 23.57 ($3.2 million) for the period ended March 31, 2021 as against a net loss of Rs 22.91 crores ($3.1 million) for … Read more
Versalis and Saipem have signed an agreement to internationally promote PROESA, Versalis’ proprietary technology used to produce sustainable bioethanol and chemicals from lignocellulosic biomass. Versalis and Saipem will provide integrated and technologically advanced solutions for the sustainable production of bioethanol. The technology does not use crops intended for human consumption as a raw material, but … Read more
Shivalik Rasayan Ltd, a fine chemicals manufacturer based in India announced its results for the final quarter & year ended March 31, 2021. Q4 Results The company’s net profit grew 71.1% to Rs 6.57 ($0.89 million) for the period ended March 31, 2021 as against a net loss of Rs 3.84 crores ($0.52 million) for … Read more
Mukesh Ambani, Chairman & Managing Director at Reliance Industries, on Thursday said RIL’s proposed deal with Saudi Aramco will likely be finalised this financial year. Ambani, who was speaking at the company’s 44th Annual General Meeting (AGM), said Yasir Al-Rumayyan would join the company board as an independent director. Al-Rumayyan is the chairman and governor … Read more
Kumho Petrochemical, a leading synthetic rubber producer in South Korea, approved an investment of 256 billion won ($225 million) to maintain its leadership in the global market for synthetic latex, which is primarily used in health care. The company stated that aggressive investments are required to meet the rapidly increasing demand for nitrile butadiene latex. … Read more
Kerry Group plc, a global food ingredients company, has agreed to purchase Niacet Corp. from An affiliate of funds advised by SK Capital Partners LP for $1.02 billion (€853 million) on a cash-free, debt-free basis, subject to customary closing adjustments. Niacet is a global market provider in technologies for preservation of bakery and pharma products, … Read more
Oriental Carbon and Chemicals Ltd, a chemicals manufacturer based in India announced its results for the final quarter & year ended March 31, 2021. Q4 Results The company’s net profit grew 66.5% to Rs 27.75 ($3.7 million) for the period ended March 31, 2021 as against a net loss of Rs 16.67 crores ($2.3 million) … Read more