Solvay to Sell Barium, Strontium, Sodium Percarbonate Businesses to PE Firm

Solvay announced that it has reached an agreement with private equity firm Latour Capital to sell its technical-grade barium and strontium business in Germany, Spain and Mexico as well as its sodium percarbonate business in Germany. Solvay’s barium and strontium business includes a joint venture with Chemical Products Corporation (CPC), which is part of the … Read more

Ineos Buys Out Sasol in Gemini HDPE JV for $404 Million

Ineos Olefins and Polymers USA has agreed terms to acquire Sasol’s 50% stake in their joint venture, Gemini HDPE LLC for $404 million, thereby, becoming 100% owner of the asset. Gemini is a toll-manufacturer of bimodal high-density polyethylene (HDPE) products serving rapidly growing pipe and film markets. Gemini HDPE plant, which has a capacity of … Read more

Croda to Acquire Iberchem for $973 Million

Croda International Plc agreed to buy Iberchem for 820 million euros ($973 million) as Europe’s largest cosmetic-ingredients maker expands into highly competitive fragrances market. Croda said on Wednesday it plans to raise 600 million pounds ($798 million) in equity to help pay for the purchase of the asset from private equity firm Eurazeo SE. Iberchem … Read more

Roth Capital Partners’ SPAC Acquires Plastics Recycler PureCycle Technologies

Roth CH Acquisition I Co. announced that it has acquired polypropylene (PP) recycling firm PureCycle Technologies in a deal that values PureCycle’s post-transaction equity at about $1.2 billion. Under the deal, a new holding company named PureCycle Technologies Inc. will be created and listed on the Nasdaq exchange under the symbol ‘PCT.’ The deal includes … Read more

Elementis Rejects Minerals Technologies All-cash $819 Million Offer

Elementis PLC, a British speciality chemicals company has rejected Minerals Technologies Inc’s all-cash buyout offer as the valuation for the company of $819 million was too low. The offer would represent a premium of 31% to Elementis’s closing price of 81.70 on November 4, the day before the approach.  With 580.8 million shares in issue, … Read more

Grasim Sells Indo Gulf Fertilizers to Indorama for $355 Million

Grasim Industries has decided to sell its fertilizer business to Indorama Corporation for Rs 2649 crore ($355 million). The flagship company of Aditya Birla Group on Thursday approved the divestment of its fertilizer business, Indo Gulf Fertilizers (IGF), by way of a slump sale to Indorama India Pvt Ltd (IIP), a subsidiary of Indorama Corporation … Read more

ADNOC, ADQ Downstream Chemicals JV to Invest $5 Billion at Ruwais Derivatives Park

Abu Dhabi National Oil Company and industrial holding company ADQ are looking to collaborate on $5 billion worth of projects in the Ruwais Derivatives Park. The two companies signed a deal to form the JV in July to invest in chemical projects, with ADNOC holding a 60% equity stake and ADQ having the remaining 40%. … Read more

Pidilite Industries Completes Acquisition of Huntsman’s India Subsidiary

Pidilite Industries Ltd announced that the company has completed the acquisition of 100% stake in Huntsman Advanced Materials Solutions Private Limited (HAMSPL), on 3rd November 2020. As such, HAMSPL will now be a subsidiary of Pidilite Industries Ltd, the company said. At its meeting on October 28, the board of Pidilite Industries approved a definitive … Read more

BASF, Adnoc, Borealis, Adani put $4 Bn India Petchem Project on Hold due to COVID-19

BASF said on Thursday that its plans to build a petrochemicals complex in India worth up to $4 billion with partners had been put on hold due to the economic uncertainty caused by the pandemic. As part of four-party Memorandum of Understanding (MoU), signed on October 4, 2019, Abu Dhabi National Oil Company (ADNOC), Adani … Read more

Evonik Completes Acquisition of Porocel

Evonik announced that the company completed the acquisition of desulfurization catalyst rejuvenation firm, Porocel Group for US$ 210 million, as planned. Porocel’s global activities in the field of desulfurization catalyst rejuvenation, sulfur recovery catalysts, and alumina-based purification adsorbents represent an expansion of Evonik’s catalyst portfolio. Evonik is integrating the company into the Smart Materials Business … Read more

Lubrizol, Grasim Industries Partner for India’s Largest CPVC Resin Plant

Lubrizol Advanced Materials, a global specialty chemical leader and the market leader for CPVC, and Grasim Industries Limited have entered into a definitive agreement to manufacture and supply CPVC resin in India to meet growing demand for chlorinated polyvinyl chloride (CPVC) pipe and fittings. Once commissioned, this near 100,000 metric-ton state-of-the-art CPVC plant at Grasim’s … Read more

Sanyo Chemical, Nippon Shokubai Cancel Merger Plans

Sanyo Chemical and Nippon Shokubai announced Wednesday that they have canceled their planned merger, as the coronavirus pandemic highlights their diverging strategies on a key material used in disposable diapers. “The Companies adopted a resolution to cancel the Business Integration and terminate by mutual agreement the final agreement concerning the Business Integration as of October … Read more

NOVA Chemicals to Sell its Expandable Styrenics (EPS) Business to Alpek

Nova Chemicals announced that it has agreed to sell its expandable styrenics business to a subsidiary of Alpek S.A.B. de C.V. The parties expect to close the transaction in the fourth quarter. The sale of its expandable styrenics business is an important step in Nova Chemicals’ plan to focus on its olefin and polyethylene business, … Read more

Arlanxeo Sells its Olefins Business in Canada to Mitsubishi Corporation

Arlanxeo Canada, a subsidiary of the Saudi Arabian Oil Company (Saudi Aramco), and Diamond Petrochemicals Canada, a subsidiary of Japan’s Mitsubishi, have announced the execution of an agreement between the companies, where Arlaxeo will sell its olefins business to Mitsubishi Corp. Arlanxeo’s olefins unit is located at the bio-industrial park Sarnia in Ontario, Canada and … Read more

Ardian Acquires 50% Ownership Stake in Angus Chemical Company

Ardian, a private investment firm, announced that it has acquired a 50% ownership stake in Angus Chemical Company from Golden Gate Capital at a total enterprise value of approximately $2.25 billion. Golden Gate Capital, which initially acquired Angus in February 2015 from The Dow Chemical Company, will retain a 50% stake in Angus. Additional terms … Read more

Mitsubishi Chemical to Sell its Polymer-Flocculant Sales Business

Mitsubishi Chemical Corp. has concluded agreements to transfer its polymer flocculant sales business to MT AquaPolymer, Inc. and Hymo Corp. Once the transfer is complete, the two companies will outsource the manufacture of polymer flocculants to MCC. The transfer is subject to obtaining approval from competition authorities. MTAP is a leading Japanese manufacturer of polymer … Read more

Bhansali Engineering Polymers Reports Rs 35.5 Cr Net Profit for Q2 FY20-21

Bhansali Engineering Polymers Ltd., a polymer and other allied products manufacturer based in India announced its results for the second quarter ended September 30, 2020. Q2 Results- QoQ The company’s net profit grew 2672.5% to Rs 35.5 crores ($4.9 million) for the period ended September 30, 2020 as against net loss of Rs 1.38 crores … Read more

Mitsui Chemicals Acquires Hydrophobic, Anti-Reflective Coatings Maker

Mitsui Chemicals, Inc. announced that group company SDC Technologies, Inc. has acquired COTEC GmbH. Engaged in the manufacture, sale and research of hydrophobic and anti-reflective coatings, COTEC became a wholly owned subsidiary of SDC on October 1, 2020. The Mitsui Chemicals Group’s Vision Care Materials Division boasts a diverse product range. Its ophthalmic lens materials … Read more

SK Capital Closes Acquisition of Specialty Polymers Business from Baker Hughes

SK Capital Partners, LP, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, completed its previously announced acquisition of the specialty polymers business of Baker Hughes. The business has been renamed NuCera Solutions, reflecting its history of innovation in the specialty polymers and polyethylene wax markets. NuCera, with manufacturing operations in … Read more

LyondellBasell Buys $2-billion Stake in Sasol’s Lake Charles Base Chemicals Unit

LyondellBasell and Sasol Ltd. have entered into a definitive agreement to form a 50/50 joint venture (JV) through which LyondellBasell will acquire 50% of Sasol’s Lake Charles base chemicals unit for a total consideration of $2 Billion. The Lake Charles base chemicals unit includes a 1.5-million-ton ethane cracker, 900,000-ton low and linear-low density polyethylene plants … Read more