Air Products Plans $5 Billion Green Ammonia Plant in Saudi Arabia

Air Products on Tuesday announced an agreement for $5 billion green hydrogen-based ammonia production facility that will be powered by renewable energy. The project will be equally owned by Air Products, ACWA Power of Saudi Arabia and NEOM. NEOM is a new model for sustainable living located in the North West corner of the Kingdom … Read more Air Products Plans $5 Billion Green Ammonia Plant in Saudi Arabia

Sasol, Enaex Conclude Explosives JV in South Africa

Sasol and Enaex S.A., a subsidiary of the Sigdo Koppers Group, have announced the start of operations of new explosives JV in Southern Africa. The new explosives joint venture Enaex Africa started operations on 1 July 2020. In line with the company’s growth strategy review of 2017, Sasol’s explosives business was identified as having substantial … Read more Sasol, Enaex Conclude Explosives JV in South Africa

PolyOne Completes Clariant Masterbatch Acquisition

PolyOne Corporation, a leading global provider of specialized polymer solutions, has completed its purchase of the color masterbatch businesses of Clariant and Clariant Chemicals India Ltd.  PolyOne also announced that it has changed its name and will now be called Avient. “We proudly welcome our newest associates and valued customers from Clariant Masterbatch.  They are … Read more PolyOne Completes Clariant Masterbatch Acquisition

INEOS to Acquire BP’s Global Aromatics and Acetyls Business

BP’s Aromatics and Acetyls business consists of 15 sites across the world (5 in the Americas, 2 in Europe and 8 in Asia) as well as 10 leading joint ventures. INEOS announced its intention to purchase the global Aromatics and Acetyls businesses of BP for a consideration of $5 billion. Aromatics provide the building blocks … Read more INEOS to Acquire BP’s Global Aromatics and Acetyls Business

Reliance-Aramco JV in Progress, says Ambani

Reliance Industries Ltd said it is working to complete contours of a $15 billion deal with Saudi Aramco but did not give a timeline for its completion. In August last year, RIL ‘s Chairman & Managing Director, Mukesh Ambani, announced talks to sell 20% of the oil-to-chemical (O2C) business, which includes its twin oil refineries … Read more Reliance-Aramco JV in Progress, says Ambani

Clariant Chemicals India Reports 173% Increase in FY19-20 Net Profit

Clariant Chemicals India Ltd., an Indian subsidiary of Clariant AG has reported financial results for the period ended March 31, 2020. Q4 Results The company’s net profit rose by 93.33% to Rs 15.37 crores ($2 million) for the period ended March 31, 2020 as against Rs 7.95 crores ($1 million) for the period ended March … Read more Clariant Chemicals India Reports 173% Increase in FY19-20 Net Profit

Aramco Completes Acquisition of 70% Stake in SABIC

Aramco has announced the successful completion of its share acquisition of a 70% stake in Saudi Basic Industries Corp. (SABIC) from the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, for a total purchase price of SAR 259.125 billion ($69.1 billion), equating to SAR 123.39 ($32.89) price per share. The acquisition enhances … Read more Aramco Completes Acquisition of 70% Stake in SABIC

LG Chem in $1.1 billion Deal with Chinese Firm to Sell LCD Polarizer Business

LG Chem announced on June 10 that it has recently signed a conditional contract with China’s chemical materials company Shanshan to transfer its LCD polarizer business for US$1.1 billion. LG Chem said that some product groups such as LCD polarizers for automobiles will be excluded from this sale as they are still lucrative. “We are … Read more LG Chem in $1.1 billion Deal with Chinese Firm to Sell LCD Polarizer Business

Saint-Gobain Completes Sale of Sika Stake for $1.69 Billion

Saint-Gobain announced the completion of sale of its stake in Sika held by its subsidiary Schenker-Winkler Holding AG, netting it 1.54 billion euros ($1.69 billion). Saint-Gobain acquired its 10.75% stake in Sika as part of a global agreement with Sika and the Burkard family in May 2018. The Sika shares were held as an equity … Read more Saint-Gobain Completes Sale of Sika Stake for $1.69 Billion

Lotte Chemical Acquires Minority Stake in Showa Denko

Lotte Chemical has invested 161.7 billion won ($132 million) to acquire a 4.46% stake in Japanese chemical company Showa Denko, according to a Business Korea report. The move is seen as reflecting Lotte Group chairman Shin Dong-bin’s intention to take over Japanese chemical companies with strong technologies. Lotte Chemical bought Showa Denko shares in March … Read more Lotte Chemical Acquires Minority Stake in Showa Denko

Reliance Industries to Sell its Stake in Asian Paints

Reliance Industries Ltd. is considering selling its stake in India’s largest paint maker valued at about $989 million as the conglomerate steps up efforts to trim its debt, said a report by Bloomberg. RIL is in discussions with banks for a potential sale of its 4.9% stake in Asian Paints Ltd. through a series of … Read more Reliance Industries to Sell its Stake in Asian Paints

DIC Corp Acquires a Chinese Liquid Inks Business

DIC Corporation has acquired liquid inks for the packaging business from Liaoning Tianqi Technology, a manufacturer of liquid inks for packaging for the food and beverage industry based in China. The acquired company name will be DIC Graphics (Shenyang) Ltd. Financial terms of the deal were not disclosed. The acquisition is part of DIC’s efforts … Read more DIC Corp Acquires a Chinese Liquid Inks Business

India Advices its Public Sector Chemical Cos to Seek Foreign Investment- COVID – 19

India’s Department of Chemicals and Petrochemicals has taken initiatives to overcome the hurdles posed by Covid-19 pandemic and has suggested state-owned units to strengthen their performance by exploring Joint Ventures with global enterprises looking for investments. The initiative came on the directions of Union Minister of Chemicals and Fertilizers Shri DV Sadananda Gowda who has … Read more India Advices its Public Sector Chemical Cos to Seek Foreign Investment- COVID – 19

Aramco in Talks with Banks to borrow $10bn to Finance SABIC Acquisition

Saudi Aramco is in early discussions with lenders for a loan of approximately $10 billion to help fund its purchase of a 70% stake in Saudi Basic Industries Corp (SABIC), according to a Reuters report. Last year, Aramco agreed to buy SABIC’s majority stake from the Kingdom’s wealth fund for $69.1 billion, signing one of … Read more Aramco in Talks with Banks to borrow $10bn to Finance SABIC Acquisition

Borealis Declares Force Majeure for Swedish Steam Cracker, Acquires Complete Ownership in Novealis

Borealis last week issued a force majeure declaration for its Stenungsund steam cracker in Sweden. A spokesperson from the company said that on 8th of April the company declared force majeure for its cracker operations in Stenungsund due to a “technical incident”. The cracker in Stenungsund can produce 625,000 metric tons of ethylene per annum. … Read more Borealis Declares Force Majeure for Swedish Steam Cracker, Acquires Complete Ownership in Novealis

Woodward, Hexcel Terminate Merger Agreement due to COVID-19 Impact

Hexcel Corporation (HXL) and Woodward, Inc. (WWD) announced that the companies have mutually agreed to terminate their previously announced $6.4-billion merger deal. The decision has been duly approved by the boards of both companies. The companies decided to call off the mega-merger deal in response to the increasing impact of the coronavirus (COVID-19) pandemic on … Read more Woodward, Hexcel Terminate Merger Agreement due to COVID-19 Impact

Sumitomo Chemical Invests in Conagen, Completes Acquisition of Subsidiaries of Nufarm

Sumitomo Chemical announced on 2nd April that it invested $30 million in Conagen, a U.S. biotechnology company. The company has conducted joint research with Conagen since 2018 on the biosynthesis of existing chemicals. The fresh investment will further promote its strategic business alliance with Conagen and develop innovative high functional products and processes by way … Read more Sumitomo Chemical Invests in Conagen, Completes Acquisition of Subsidiaries of Nufarm

Air Products to Acquire Five Hydrogen Plants from PBF Energy

Air Products (NYSE: APD) has reached an agreement with PBF Energy Inc. (NYSE: PBF) that include the acquisition of $530 million of five hydrogen steam methane reformers (SMR) hydrogen production plants and the long-term supply of hydrogen to PBF refiners from those already operating plants. Located in Torrance and Martinez, California and Delaware City, the … Read more Air Products to Acquire Five Hydrogen Plants from PBF Energy

Huntsman to Acquire CVC Thermoset Specialties for $300 Million

Huntsman has signed a $300 million deal to buy CVC Thermoset Specialties, a specialty chemical manufacturer that supplies chemicals for the industrial composites, adhesives and coatings markets. The $300 million purchase price is subject to customary closing conditions. It is an all-cash transaction, funded from available liquidity by Huntsman. Depending on the full year of … Read more Huntsman to Acquire CVC Thermoset Specialties for $300 Million

Kraton Completes Sale of Cariflex Business to Daelim

Kraton Corporation announced that it has completed the sale of its Cariflex business to Daelim Industrial Co, Ltd. for $530.0 million in cash. “We believe Daelim is well-positioned to invest in and grow the Cariflex franchise as it continues to expand its global business,” said Kevin M. Fogarty, Kraton’s President and Chief Executive Officer.  “As … Read more Kraton Completes Sale of Cariflex Business to Daelim