Chase Corporation, a prominent global manufacturer of protective materials for high-reliability applications, has recently disclosed that it is set to be acquired by an affiliate of investment funds managed by KKR, a leading global investment firm. The all-cash transaction, which includes the assumption of debt, is valued at approximately $1.3 billion. Under the terms of … Read more
SRF Limited, a chemical-based multi-business entity specializing in the production of industrial and specialty intermediates, has released its consolidated financial results for the first quarter ended June 30, 2023. The unaudited results were approved by the Board of Directors during a meeting held on the same day. Q1 Results: In the first quarter of the … Read more
Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully closed a landmark transaction to acquire a 10% interest in Rongsheng Petrochemical Co. Ltd. for RMB 24.6 billion ($3.4 billion), through its subsidiary Aramco Overseas Company BV, based in the Netherlands. The acquisition follows the signing of definitive strategic agreements by both … Read more
Air Liquide announces close to 200 million US dollars in investment in two advanced material production centers in Taiwan and South Korea. The investment aims to accelerate the development and manufacturing of new advanced materials while increasing reliability and improving the sustainability of its supply chain by localizing the production close to their semiconductor customers. … Read more
The Chemours Company announced they have engaged with the Interagency for Market Control of the Hellenic Ministry of Development (DIMEA), the Hellenic Police, and Hellenic Customs to stop illegal fluorinated gas (F-gas) refrigerants from entering the European Union (EU) at the Greek border. Approximately 15.6 tons of suspected unauthorized refrigerants including R-1234yf used as an … Read more
Abu Dhabi National Oil Company (ADNOC) has officially announced its commencement of formal negotiations with OMV AG to explore the possibility of creating a new combined petrochemicals holding entity. The proposed merger aims to integrate their respective existing shareholdings in Borouge plc and Borealis AG. Currently, Borouge is listed on the Abu Dhabi Securities Exchange … Read more
Hy2gen, a leading company in the renewable energy sector, has recently unveiled its ambitious plans to construct a state-of-the-art renewable ammonia production facility in Campeche, Mexico. With a massive capacity of 200MW, the plant, known as the Marengo project, aims to generate an impressive annual output of 180,000 tonnes of renewable ammonia. The primary target … Read more
PreZero and Shell have joined forces through a collaborative agreement to tackle the challenge of recycling plastic by creating an innovative chemical solution. They acknowledge that not all types of plastic can be effectively recycled through mechanical processes, resulting in a significant gap in the circularity of plastic waste. To address this issue, both companies … Read more
Toray Industries, Inc. announced plans to increase regular tow carbon fiber production capacity at two facilities. Capital investments will add lines to the Spartanburg plant in South Carolina, USA of Toray Composite Materials America, Inc., and the Gumi plant in Gyeongsangbuk-do, Korea of Toray Advanced Materials Korea Inc. These investments will increase the Toray Group’s … Read more
Johnson Matthey plc, a global leader in sustainable technologies, has signed an investment agreement with the Jiading District in Shanghai to help accelerate the hydrogen economy in China. At a signing ceremony in Sonning, UK today, JM and the Shanghai Jiading District announced plans to build a new catalyst-coated membrane (CCM) production facility, providing CCM … Read more
BASF and Zhejiang Guanghua Technology Co., Ltd. (KHUA) have signed a Letter of Intent (LoI) for the supply of Neopentyl Glycol (NPG) from BASF’s Zhanjiang Verbund site to KHUA. This agreement marks a significant milestone in the long-term partnership between both parties. KHUA, a reputed manufacturer of saturated polyester resins for the powder coatings industry … Read more
KEZAD Group, the leading operator of integrated and purpose-built economic zones in the UAE, has recently announced an agreement with Global Fluorine Chemical Factory LLC (GFCF) for the establishment of the second phase of their operations in KEZAD Mussafah. This development will enable GFCF to triple its production capacity, marking a significant step towards the … Read more
LyondellBasell announced that PetroChina Guangxi Petrochemical Company will license the LyondellBasell polyethylene technology at their facility located in Qinzhou City, Guangxi, P.R. of China. The newly licensed technology will comprise the LyondellBasell leading high-pressure Lupotech process technology which will be used for both a 100 kiloton per year (KTA) Autoclave and a 300 KTA Tubular … Read more
Gelest, Inc., a Mitsubishi Chemical Group company, recently commenced the construction of a new production facility at its global headquarters in Morrisville, PA. The groundbreaking ceremony marked a significant milestone for the company. The new facility will occupy a 50,000-square-foot building and is scheduled for completion by September 2024. To support the initial phase of … Read more
HPCL Rajasthan Refinery Limited (HRRL) received a substantial financial boost for its upcoming project in Barmer, Rajasthan, as the Rural Electrification Corporation Limited (REC) granted a loan of Rs 47.85 billion. In a press release, the company stated, “HPCL Rajasthan Refinery Limited (HRRL) executed a loan agreement on 4 July 2023 under a consortium arrangement … Read more
Solenis, a leading manufacturer of specialty chemicals used in water-intensive industries, has completed its acquisition of Diversey Holdings, Ltd. The transaction, valued at an enterprise value of approximately $4.6 billion, was executed in an all-cash deal and became effective on July 5. Diversey is a leading provider of hygiene, infection prevention and cleaning products and … Read more
In June 2022, Borealis received a binding offer from AGROFERT, a.s. for the acquisition of its nitrogen business including fertilizer, melamine and technical nitrogen products. On July 5, 2023, the transaction, valuing the business on an enterprise value basis at EUR 810 million, has been completed. AGROFERT is a Czech-based group active in a number … Read more
INEOS, a leading global chemical company, has announced its plans to acquire several key businesses and infrastructure assets in a strategic deal with TotalEnergies. The acquisition will involve INEOS taking over TotalEnergies’ 50% share of Naphtachimie, Appryl, Gexaro, and 3TC, which are currently joint ventures between the two companies. These businesses, located at the Lavera … Read more
Syclus intends to build and operate a plant for the production of renewable ethylene from sustainable ethanol in Chemelot Industrial Park, Geleen, Netherlands. With an annual production capacity in the range of 100,000 tonnes, this renewable ethanol-to-ethylene production plant would be a first in Europe, paving the way for a more sustainable way of producing … Read more
Evonik has acquired Novachem, an Argentinian sustainable cosmetic actives innovator. Novachem offers a strong, innovative portfolio of biotechnological, natural and sustainable cosmetic active ingredients with scientifically proven claims that will boost Evonik’s portfolio of System Solutions. Signing and closing took place on 30 June 2023, subject to official approval by the authorities. Novachem will be … Read more