BASF to Sell Construction Chemicals Business to Lone Star Funds

BASF SE announced that it has entered a deal to sell its construction chemicals business to Lone Star Funds, a global private equity firm for 3.17 billion euros ($3.5 billion). The deal, which has immediate effect upon BASF’s reporting, is expected to close in the third quarter of 2020, according to the statement. The deal … Read more

Ecolab Signs a Deal to Merge its Upstream Energy Business with Apergy

Specialty chemical company Ecolab Inc. will merge its upstream energy business, Nalco Champion LLC with oilfield services provider Apergy Corp. The combined entity is expected to have pro forma sales of roughly $3.5 billion for the year and adjusted EBITDA of about $615 million, according to a Dec. 19 news release. The deal values Nalco … Read more

PolyOne to Acqure Clariant Masterbatches in $1.45B Deal

PolyOne Corp. announced that it had made a deal with Clariant AG to buy its masterbatches business for $1.45 billion. The deal is set for completion in the third quarter of 2020. The transaction values the Clariant business at $1.56 billion, representing roughly 11.1 times the annual earnings before interest, taxes, depreciation and amortization (EBITDA). … Read more

Hitachi in Talks to Sell Chemical Business to Showa Denko for $8.8 billion

Hitachi Ltd said on Wednesday it would sell its listed chemicals business to electronic materials maker Showa Denko as the Japanese industrial conglomerate overhauls its business portfolio. Hitachi will sell its 51% stake in Hitachi Chemical for 494 billion yen ($4.51 billion) to Showa Denko. Hitachi Chemical is a supplier of materials for semiconductors, displays … Read more

Ferro to Sell Tile Coatings Business to Pigments Spain

Ferro Corporation announced it has entered into a definitive agreement to sell its Tile Coatings Business to Pigments Spain, S.L., a company of the Esmalglass-Itaca-Fritta group, which is a portfolio company of Lone Star Funds. The deal was for $460 million in cash, with the potential for an additional $32 million in cash based on … Read more

IFF to Acquire DuPont’s Nutrition Business for $26.2 Billion

IFF and DuPont announced that they have entered into a definitive agreement for the merger of IFF and DuPont’s Nutrition & Biosciences (N&B) business in a Reverse Morris Trust transaction. The deal values the combined company at $45.4 billion on an enterprise value basis, reflecting a value of $26.2 billion for the N&B business based … Read more

Huntsman to Acquire Icynene-Lapolla for $350 Million

Huntsman Corporation announced its agreement to acquire Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from an affiliate of FFL Partners, LLC. Icynene-Lapolla has annual revenues of approximately $230 million with two manufacturing facilities located in Houston, Texas and Mississauga, Ontario.  Under terms … Read more

Nissan Chemical Acquires Fungicide Product Line from Corteva

Nissan Chemical Corporation announced the acquisition of the Quinoxyfen product line of fungicides from Corteva, Inc. The transaction includes all brands, including Quintec and Fortress and associated inventories. Quinoxyfen is a protectant fungicide highly effective in controlling powdery mildew in cereals, grapes, stone fruits, and vegetables such as cucurbits. It has a unique mode of … Read more

Indorama Acquires PET Recycler Green Fiber International

Indorama Ventures Public Company Limited (IVL), a global chemical manufacturer, has acquired Green Fiber International Inc. (GFI), a recycling company in Fontana, California, USA. The facility produces Recycled Polyethylene Terephthalate (rPET) Flakes. The acquisition has a combined capacity of 40,000 tonnes/annum. Green Fiber International Inc. offers high-quality recycled PET bottle flakes for food contact to … Read more

ONGC Shelves Plan to Sell Stake in OPAL Petchem Complex

Oil and Natural Gas Corp. (ONGC) has shelved its stake sale plans for ONGC Petro Additions Ltd (OPaL) unable to attract a strategic partner, Livemint reported. OPaL, a joint venture between ONGC (49.4%), GAIL (India) Ltd (49.2%) and Gujarat State Petroleum Corp. Ltd (1.4%), has set up a grass root mega petrochemical complex at Dahej, … Read more

UPL to Acquire Chinese Agrochemical Company

UPL Ltd, an Indian agrochemical company said it has entered into definitive agreements to acquire a majority stake in Yoloo Laoting Bio-technology Co. Ltd, an agrochemical firm based in China’s Heibei province, from Beijing Yoloo Bio-Technology Corp. Ltd. UPL will own 75% stake in Yoloo Laoting for RMB 93.33 million ($13.3 million). The remaining 25% … Read more

Royal DSM to Acquire Royal CSK, Combining Complementary Strengths in Dairy

Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, announced that it has reached agreement with the shareholders of specialty dairy solutions provider Koninklijke CSK Food Enrichment C.V. for the acquisition of a 100% interest in the company for a cash consideration of about €150 million ($166 million). Subject to customary conditions, … Read more

PMC Acquires Lanxess’ Organotin Specialties Business

PMC Group N.A., Inc. and Lanxess Organometallics GmbH announced that the parties have reached an agreement whereby PMC’s European subsidiary will acquire the organotin specialties product line from Lanxess. The transaction is scheduled to close by year end, subject to customary closing conditions. The Business includes Lanxess’ global organotin catalyst, organotin specialties and intermediates product … Read more

Covestro Sells European Systems Houses Business to HIG Capital

Covestro successfully closed the sale of its European Systems Houses business to H.I.G. Capital effective as of November 1, 2019. The sales proceeds amount to a high-double-digit euro million sum. The business comprises facilities in the Netherlands, Denmark, Spain, Germany and further businesses in Italy. With approximately 250 employees, the business generates a annual sales … Read more

Sibur Closes Sale of Petchem Units Based in Togliatti, Russia to Tatneft

SIBUR and Tatneft have closed the sale and purchase of certain production and other assets that to date have been registered in the name of Sibur Togliatti and Togliattisintez legal entities. After the deal, Tatneft intends to further develop the acquired assets in line with its gas and petrochemical strategy, while SIBUR will concentrate efforts … Read more

Gabriel Performance Acquires Alkyd Resins Product Line from Deltech

Gabriel Performance Products, a U.S.-based leading specialty chemicals company serving the coatings, adhesives, and composite end markets, announces the acquisition of a select portfolio of alkyd resins from Deltech Resin Company. Gabriel has purchased a subset of Deltech’s alkyd resin product line. Gabriel will produce these products in its Harrison City, PA facility, home of … Read more

Arkema to Sell Functional Polyolefins Business to SK Global

Arkema announces the proposed divestment of its Functional Polyolefins business to SK Global Chemical, a major chemicals player in South Korea and a subsidiary of SK, the large South-Korean corporation. With this project, Arkema continues its shift towards specialty chemicals and advanced materials. Part of the PMMA Business Unit (Industrial Specialties division), the Functional Polyolefins … Read more

Brenntag to Acquire Brazilian Chemical Distributor Quimisa

Brenntag, the global market leader in chemical and ingredients distribution, has signed an agreement to acquire Quimisa SA including its logistics subsidiary Quimilog. German Torres, Chief Executive Officer of Brenntag Latin America: “For Brenntag, the acquisition of Quimisa is an attractive investment with a strong infrastructure which will allow us to increase our market position … Read more

Merck KGaA Completes Acquisition of Versum Materials

Merck KGaA, Darmstadt, Germany, announced on Monday that it has completed the announced transaction with Versum Materials, Inc., a leading materials supplier to the semiconductor industry. Merck expects Versum to contribute around 270 million euros ($296.76 million) to group revenues by the end of the year. In April, Merck sealed a $6.5 billion takeover deal … Read more