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
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
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
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
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
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
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
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
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
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
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
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
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
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
Reliance Industries Limited (RIL) Chairman Mukesh Ambani on Wednesday said the deal to sell 20% stake to Saudi Aramco has not progressed according to the scheduled time due to ongoing pandemic situation. “Due to unforeseen circumstances in the energy market and the Covid-19 situation, the deal has not progressed according to the original timeline,” RIL … Read more
BASF India Limited’s Board of Directors have approved the acquisition of 100% stake by the Company in BASF Performance Polyamides from BASF Nederland B.V. and BASF SE. The deal consideration amount is not exceeding Rs 305 crores ($40.6 million), including adjustments, if any, at arm’s length basis, subject to the approval of the shareholders of … Read more
Maroon Group LLC has acquired Holland Chemicals, a value-added distributor of specialty chemicals and ingredients to the personal care, household & industrial cleaning, food, and industrial markets. Holland Chemicals’ management team, led by Jonathon Rhodes, will continue to actively manage the business on a day-to-day basis. The addition of Holland Chemicals (Burr Ridge, Illinois) marks … Read more
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
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
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