Reliance Industries announced on 29th Feb that it has acquired a controlling stake in textile manufacturer Alok Industries Ltd for Rs 250 crore ($34.3 million). Alongside JM Financial Asset Rehabilitation Co Ltd, Reliance had a bid to buy Alok Industries which had been auctioned by lenders under the insolvency and bankruptcy law to recover their … Read more
Pidilite Industries, an Indian manufacturer of adhesives, construction chemicals and specialty chemicals on Thursday announced acquiring majority stake in the Indian subsidiary of Italian firm Tenax SPA. Pidilite has entered into a definitive agreement with Tenax SPA for acquiring 70 per cent of the share capital of Tenax India Stone Products for cash consideration of … Read more
Versalis, Eni’s chemical company, has acquired 40% of Finproject, the Italian leader in the compounding sector and the production of ultralight products, from the VEI Capital fund. The move was intended with the aim of creating value by integrating the respective production chains. This strategic operation will create a new industrial platform that leverages the … Read more
Givaudan, the global leader in fragrances and flavours, announced the completion of the acquisition of Ungerer & Company, the US based Flavour, Fragrance and Specialty Ingredients company. Givaudan had announced that it had reached an agreement to acquire the company in November 2019. Gilles Andrier, Givaudan’s CEO said, “Acquiring Ungerer fits very well with our … Read more
Ascend Performance Materials, an integrated polyamide (PA) 66 supplier, has signed an agreement to purchase Poliblend and Esseti Plast GD from D’Ottavio Group. The acquisition includes a manufacturing facility in Mozzate, Italy, the masterbatch portfolio of Esseti Plast GD and the engineering plastics portfolio of Poliblend, which consists of virgin and recycled grades of PA … Read more
Iberchem Group announced that it has completed the acquisition of Flavor Inn Corporation and Duomei, two flavour companies located in Malaysia and China respectively. The terms of the transaction were not disclosed. These transactions come as the latest effort in the Group’s merger and acquisition strategy initiated last year with the purchase of South Africa’s … Read more
PPG announced that it has reached a definitive agreement to acquire Alpha Coating Technologies, LLC, a manufacturer of powder coatings for light industrial applications and heat sensitive substrates. The transaction is expected to close in the first quarter of 2020, subject to customary closing conditions. Financial terms were not disclosed. “Alpha’s best-in-class service, technology and … Read more
Chroma Color Corporation announced the acquisition of Plastics Color Corporation (PCC), including its two facilities in Asheboro, North Carolina and Calumet City, Illinois. Terms of the transaction were not disclosed. PCC deals in color concentrates, functional additives and custom polymer masterbatch. The company has multiple certifications and accreditations that meet government standards and regulations, including … Read more
Advansa GmbH, manufacturer of polyester fibers announced on January 29 that PT Asia Pacific Fibers will acquire all the assets of Advansa GmbH as well as the other relevant companies of the Advansa Group. Advansa Marketing GmbH, Hamm, as well as Bergers Technik und Maschinenbau GmbH, Hamm, among others will be included under the deal. … Read more
Evonik has successfully closed the acquisition of the US company PeroxyChem for US$640 million after the responsible court in Washington D.C. dismissed the lawsuit filed by the Federal Trade Commission (FTC) to block the acquisition. Christian Kullmann, chairman of Evonik’s executive board said, “In its judgment, the court confirmed our view of the H2O2 and … Read more
DOMO Chemicals, a leading producer of engineering materials announced that the company has completed its acquisition of Solvay’s Performance Polyamides Business in Europe. The acquired business includes Engineering Plastics operations in France and Poland; High Performance Fibers in France; Polymer and Intermediates operations in France, Spain and Poland. The agreement also involves a joint venture … Read more
Celanese Corporation, a global chemical and specialty materials company, and Nouryon today announced they have signed an agreement for Celanese to acquire Nouryon’s redispersible polymer powders business offered under the Elotex brand (Elotex business). As part of the acquisition, Celanese will acquire all of Nouryon’s global production facilities for redispersible polymer powders across Europe and … Read more
Air Liquide announced on Tuesday that it has entered into exclusive negotiations, with Messer, regarding the divestment of its entities in Czech Republic and Slovakia. Air Liquide started operating in Slovakia in 2000 and Czech Republic in 2001. Today, both locations total 53 employees, with office locations in Prague and Trnava. This decision illustrates Air … Read more
Turkey and Algeria will jointly establish a petrochemicals plant in Adana on the Mediterranean coast, Algerian Energy Minister Mohammed Arkab told state-run Anadolu Agency. Turkey’s Rönesans Holding and Algeria’s state-owned energy company Sonatrach will take part in the project, Arkab said on the margins of the Turkey-Algeria Business Forum. The petrochemical facility is estimated to … Read more
Borealis AG and NOVA Chemicals Corporation announced last Thursday that they have reached an agreement for Borealis to buy NOVA Chemicals’ 50% ownership interest in Novealis Holdings LLC. Formed in 2018, Novealis is the joint venture between affiliates of Borealis and NOVA Chemicals, which subsequently formed a 50/50 joint venture with an affiliate of Total … Read more
ChemChina and Sinochem are consolidating their agricultural assets into a new holding company to be called Syngenta Group, ChemChina unit Syngenta said on Sunday. Chen Lichtenstein, current president and CEO of Shenzhen-listed crop protection company ADAMA, which will also be incorporated into the new group, will be nominated CFO of the newly formed Syngenta Group. … Read more
BASF has closed the previously announced transaction to divest its ultrafiltration membrane business to DuPont Safety & Construction (DuPont). The divestiture includes the shares of inge GmbH, the business’ headquarters and production site in Greifenberg, Germany, including all employees, its international sales force, and certain intellectual property previously owned by BASF SE. Financial details of … Read more
Elkem ASA has entered into an agreement to acquire Polysil, a leading Chinese silicone elastomer & resins material manufacturer with strong positions in baby care and food grade silicones, as well as silicone products for the electronics and medical markets. The companies have agreed an enterprise value for Polysil of up to RMB 941 million … Read more
The Saudi Arabian Fertiliser Company (SAFCO) agreed to acquire a unit of Saudi Basic Industries Corporation (SABIC) to improve growth and look for new markets, the company said on Wednesday. SAFCO will acquire 100% of SABIC Agri Nutrients Investment Company, which is valued at 4.59 billion Saudi riyals ($1.2 billion) by way of an increase … Read more
Tata Chemicals on Thursday said it has acquired the remaining 25 per cent stake in Tata Chemicals (Soda Ash) Partners Holdings for $195 million. Following the transaction, Tata Chemicals ownership in Tata Chemicals (Soda Ash) Partners has increased to 100 per cent. “Tata Chemicals, through its wholly-owned subsidiary Valley Holdings Inc, has acquired the remaining … Read more