BASF Acquires Crop Protection Technology from AgriMetis

BASF Agricultural Solutions acquired the proprietary Glu-L technology for L-glufosinate ammonium from AgriMetis, an industry leader in biotechnological innovations for crop protection. With this technology, BASF will provide farmers with a more efficient solution and improved formulation to protect against troublesome weeds. “The Glu-L technology builds on BASF’s continued commitment to innovative solutions that help … Read more BASF Acquires Crop Protection Technology from AgriMetis

DuPont Divests Trichlorosilane Business and its Stake in Hemlock JV

DuPont announced it has divested its trichlorosilane (TCS) business and its equity interest in the Hemlock Semiconductor joint venture to Hemlock for $725 million. The deal has received regulatory approval and was closed at signing. Dupont owned 40.25% stake in Hemlock JV before signing of this deal. DuPont received pre-tax cash proceeds of $550 million … Read more DuPont Divests Trichlorosilane Business and its Stake in Hemlock JV

Reliance Industries gives Detailed Plan to Spin-off O2C Assets

Reliance Industries Ltd (RIL) has released a detailed plan on spinning off its oil-to-chemical (O2C) business into a separate subsidiary on Sunday, according to a report by The Telegraph. It has come up with a detailed scheme of arrangement to transfer the undertaking to the O2C subsidiary through a slump sale, which is likely to … Read more Reliance Industries gives Detailed Plan to Spin-off O2C Assets

Sun Chemical, DIC Acquire Brazil-based Inks and Coatings Maker

Sun Chemical and its parent company, DIC Corporation, have acquired Seller Ink Industria e Comércio de Tintas e Vernizes Ltda., a specialty inks and coatings manufacturer based in São Paulo, Brazil. With over 25 years of experience, Seller Ink has a strong market presence in both the security ink and the metal decorating markets. With … Read more Sun Chemical, DIC Acquire Brazil-based Inks and Coatings Maker

National Peroxide Ltd Reports Net Loss of Rs 1.78 Cr for Q1 FY20-21

National Peroxide Ltd., a peroxide chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company reported a net loss of Rs (1.78) crores ($0.24 million) for the period ended June 30, 2020 as against net profit of Rs 3.03 crores ($0.41 million) for the … Read more National Peroxide Ltd Reports Net Loss of Rs 1.78 Cr for Q1 FY20-21

Evonik to Acquire Porocel for $210 Million to Grow Catalyst Business

Evonik is acquiring the Porocel Group, a catalyst rejuvenation firm, for US$210 million to accelerate the growth of its catalysts business. The purchase price (enterprise value) is 9.1 times adjusted earnings before interest, tax, depreciation and amortization (EBITDA) in 2019, which is an attractive valuation for a high-quality asset in the catalyst sector. The transaction … Read more Evonik to Acquire Porocel for $210 Million to Grow Catalyst Business

Prince Pipes Collaborates with Lubrizol to Enter CPVC Pipes Market

Prince Pipes and Fittings Limited (PPFL), one of India’s largest growing integrated piping solutions & multi polymer manufacturers, announced the launch of Prince FlowGuard Plus in association with Lubrizol, inventors and largest manufacturers of CPVC compounds worldwide, headquartered in the United States. Lubrizol is dedicated to supplying the highest quality CPVC compounds to service hot … Read more Prince Pipes Collaborates with Lubrizol to Enter CPVC Pipes Market

BASF and Idemitsu JV to Cease Operation of Production Plant for BDO

BASF Idemitsu Co., Ltd., a joint venture between BASF SE and Idemitsu Kosan Co., Ltd., will be closing its 1,4-Butanediol (BDO) plant at Chiba, Japan in December 2020. The joint venture agreement between BASF and IKC will be terminated thereafter. BASF’s decision to close the BIC plant in mutual agreement with IKC is part of … Read more BASF and Idemitsu JV to Cease Operation of Production Plant for BDO

Lanxess Exits Organic Leather Chemicals Business with Sale of its Unit to TFL

Lanxess, a specialty chemicals company is selling its organic leather chemicals business to TFL Ledertechnik GmbH. TFL is a global supplier of leather chemicals and a portfolio company of US investment company Black Diamond Capital Management, L.L.C. Both companies signed an agreement to this effect on August 12, 2020. The purchase price comprises a fixed … Read more Lanxess Exits Organic Leather Chemicals Business with Sale of its Unit to TFL

Shell Plans to Buy Stake in Nayara’s $9 billion Indian Petchem Project

Royal Dutch Shell plans to buy a 50% stake in Indian-based Nayara Energy’s $9 billion planned petrochemical project, according to a Reuter’s report. Global oil majors are looking at expanding foothold in the vast Indian market, where local refiners are investing billions of dollars to boost their petrochemical capacities. They are looking to meet an … Read more Shell Plans to Buy Stake in Nayara’s $9 billion Indian Petchem Project

Sudarshan Chemical Reports 57% Net Profit Decline in Q1 FY20-21

Sudarshan Chemical Industries Ltd., a pigments and chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit dropped 33.4% to Rs 18.19 crores ($2.4 miilion) for the period ended June 30, 2020 as against net profit of Rs 27.30 crores ($3.6 miilion) … Read more Sudarshan Chemical Reports 57% Net Profit Decline in Q1 FY20-21

BASF Invests to Boost Alkoxylate Capacity in Asia Pacific

BASF has acquired land, buildings and assets of SPC (Sinopec Shanghai Petrochemical Company, Ltd., China), related to alkoxylates production, adjoining the BASF Jinshan site, in order to fulfil the growing demand from customers across Asia Pacific, especially China. With the current alkoxylate line in the Care Chemicals Jinshan plant running at full capacity, this acquisition … Read more BASF Invests to Boost Alkoxylate Capacity in Asia Pacific

Indorama Acquires PET Recycling Facility in Poland

Indorama Ventures Ltd. (IVL) announced that it has, through its indirect subsidiary Indorama Netherlands B.V., signed a Conditional Share Purchase Agreement with O.R.V. Ovattificio Resinatura Valpadana S.P.A. and OPOKA LTD., to acquire a 100% equity stake of Industrie Maurizio Peruzzo Polowat spółka z ograniczoną odpowiedzialnością (IMP Polowat), a limited-liability company incorporated under the laws of … Read more Indorama Acquires PET Recycling Facility in Poland

Air Liquide to Acquire 16 ASUs from Sasol for $510 million

Sasol Ltd. has signed an exclusive negotiation agreement for Air Liquide to acquire the biggest oxygen-production site in the world located in Secunda in South Africa. The agreement is in line with Sasol’s plan to reduce its emissions of CO2. In this context, Air Liquide would operate the 16 air separation units (ASU) of this … Read more Air Liquide to Acquire 16 ASUs from Sasol for $510 million

Hanwha Group Bids for 50% Stake in Sasol’s Ethane Cracking Center

Hanwha Group is seeking to acquire a 50% in an ethane cracking center (ECC) of Sasol’s Lake Charles complex in Louisiana, according to a Business Korea report. The acquisition is estimated to cost around 3.4 billion, according to industry sources. Hanwha Group has reinforced its financial power with support from local financial firms. Hanwha Solutions … Read more Hanwha Group Bids for 50% Stake in Sasol’s Ethane Cracking Center

SK Capital to Acquire the Specialty Polymers Business from Baker Hughes

Funds advised by SK Capital Partners, LP a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, announced it has signed a definitive agreement to acquire the specialty polymers business from Baker Hughes. The financial terms of the deal have not been disclosed. The specialty polymers business, with manufacturing operations in Barnsdall, … Read more SK Capital to Acquire the Specialty Polymers Business from Baker Hughes

Atul Ltd Reports 20% YoY Decline in Net Profit for Q1 FY20-21

Atul Ltd., a chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020. Q1 Results- QoQ The company’s net profit declined 17% to Rs 117.78 crores ($15.7 million) for the period ended June 30, 2020 as against net profit of Rs 141.25 crores ($18.9 million) for the previous quarter. … Read more Atul Ltd Reports 20% YoY Decline in Net Profit for Q1 FY20-21

Partners Group to Acquire Agri-Solutions Firm Rovensa from Bridgepoint

Partners Group, an investment manager, has on behalf of its clients agreed to acquire a major equity stake in Rovensa, a leading provider of specialty agrochemicals, from Bridgepoint, a major international private equity group. The transaction values the Company at an enterprise value of around EUR 1 billion (USD 1.17 billion). Following the investment, Partners … Read more Partners Group to Acquire Agri-Solutions Firm Rovensa from Bridgepoint

SK Capital Buys Majority Stake in Techmer PM

SK Capital, which manages a growing portfolio of companies focused on the specialty materials, chemicals, and pharmaceuticals sectors, has acquired a majority interest in Techmer PM LLC, a designer and producer of engineered compounds and colour and additive concentrates for the plastics and fibre industries. The financial terms of the deal have not been disclosed. … Read more SK Capital Buys Majority Stake in Techmer PM

Celanese Sells its Share of Polyplastics for $1.575 Billion to Daicel

Celanese Corp. (Dallas, Tex.) announced it has reached a definitive agreement to sell its 45% equity investment in the Polyplastics joint venture (JV) to Daicel Corporation for $1.575 billion. Following the completion of the transaction, Daicel will own 100% of Polyplastics. Celanese’s Engineered Materials presence in Asia is significantly greater now than when the Company … Read more Celanese Sells its Share of Polyplastics for $1.575 Billion to Daicel