Petronas Chemicals Group Berhad (PCG) signed an agreement with BASF Petronas Chemicals Sdn Bhd (BPC) to acquire Maleic Anhydride (MAn) plant located in Gebeng, Kuantan. BASF Petronas Chemicals Sdn Bhd (BPC) is PCG’s joint venture (JV) with BASF. The capacity of the said Maleic Anhydride (MAn) plant is 113 kilo-tonnes per annum (ktpa). The MAn … Read more
The Government of India has decided to cancel all the activities in connection with the disinvestment of its stake in BPCL, including the data room are being discontinued, the company said in a stock exchange filing on Tuesday. The decision came after the government recently called off the present Expression of Interest (EOI) process for … Read more
OQEMA Group, a German chemical distributor has acquired hardeners and lacquers manufacturer ACC Beku. Founded in 1922, OQEMA is one of the top ten chemical distributors in Europe. The company is identifying opportunities for growth, seizing them and further expanding its presence in Europe with determination. ACC BEKU was established in 1922 and operates in … Read more
Covation Biomaterials, a private subsidiary of Huafon Group, was launched Wednesday following the close of the sale from DuPont for about $240 million. The company, which has nearly 200 employees worldwide, will be based at new offices in the Iron Hill Corporate Center in Newark. Biomaterials was a DuPont segment dedicated to discovering and producing … Read more
AkzoNobel is to further strengthen its African footprint after reaching an agreement with Kansai Paint to acquire its paints and coatings activities in the region. Completion, which is subject to regulatory approvals, is expected during the course of 2023. Present in 12 countries in Africa, Kansai Paint has regional consolidated revenue of around €280 million. … Read more
Royal DSM NV will merge with Swiss company Firmenich to form the largest flavours & fragrances company. The new company will have annual revenue of more than 11 billion euros ($12 billion), the companies said Tuesday. The deal is the latest stage in DSM’s ongoing transformation. DSM said last September it was to fully focus … Read more
Bakelite Synthetics is pleased to announce the completion of its previously announced acquisition of Georgia-Pacific’s chemicals business. With this acquisition, and after over 100 years of development through legacy companies as a global phenolics leader, Bakelite Synthetics adds to its strong portfolio of products, brand and customers, as well as building on its growth strategy … Read more
Mitsui Chemicals, Inc. announced that it has formed an agreement to acquire the pellicle business of Asahi Kasei Corporation, said the company. According to Mitsui Chemical’s Long-Term Business plan VISION 2030, it is aiming with creating and growing a “unique” ICT Solutions business to grow products that will let it create and grow operations here … Read more
Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry, announces that it has reached an agreement to acquire Chemo India and Unipharm Laboratories’ distribution assets. Both companies are renowned local distributors of specialty chemicals and ingredients for the CASE (coatings, adhesives, sealants, elastomers), L&MWF (lubricants & metalworking fluids) and … Read more
Perstorp AB announced that it will be acquired by PETRONAS Chemicals Group Berhad (PCG, Kuala Lumpur, Malaysia). PCG signed a Securities Purchase Agreement on 14 May 2022 to acquire the entire equity interest in Perstorp Holding AB. The agreement was signed with Financière Forêt S.à.r.l, a company under PAI Partners, a European private equity firm. … Read more
Avient Corporation, a leading provider of specialized and sustainable material solutions, announced that it has entered into an agreement with Royal DSM to purchase the DSM Protective Materials business. The purchase price of $1.485 billion is subject to certain customary adjustments. In conjunction with this proposed acquisition, Avient has also announced that it plans to … Read more
Asahi Songwon Colors on Monday announced its entry into active pharmaceutical ingredient (API) manufacturing with the acquisition of Atlas Life Sciences Private Limited. The company has executed a Share Purchase Agreement (SPA) with Atlas Life Sciences Private Limited (ALSPL) and certain identified promoters of ALSPL for acquisition of 100% stake in ALSPL in three tranches … Read more
Air Products announced that it has acquired Air Liquide’s industrial gases business in the UAE and Air Liquide’s majority share in MECD joint venture in Bahrain. Financial terms are not being disclosed for the agreement. Air Liquide Emirates business is part of Industrial Gases LLC (ALEMIR) and Orca Industrial Gases LLC, which includes liquid bulk, … Read more
Enerkem, a world leader in t he production of low-carbon intensity biofuels and circular chemicals from waste materials, announces the closing of a new financing totaling $255 million. Repsol invests $170 million, of which $75 million is in Enerkem’s equity. In doing so, Repsol joins existing shareholder Suncor Energy as a strategic shareholder to accelerate … Read more
Symrise has submitted a binding offer to acquire 100% of R. Romani – Société Française d’Aromatiques (SFA Romani), a high-end fragrances house. In addition, Symrise submitted a binding offer to fully acquire Neroli Invest DL (Groupe Neroli). Both companies are based in the Grasse area in France. With these transactions, Symrise intends to reinforce its … Read more
Ascend Performance Materials has reached an agreement to acquire Formulated Polymers Ltd., a leading engineered materials manufacturer in Chennai, India. Expected to close on May 1, this acquisition will establish Ascend’s first manufacturing base in the subcontinent and strengthen Ascend’s global reach in the electrical and e-mobility application space. The deal includes a worldscale manufacturing … Read more
Solvay announced it is reviewing plans to separate the Company into two independent publicly traded companies: EssentialCo would comprise leading mono-technology businesses including Soda Ash, Peroxides, Silica and Coatis, which are reported as the Company’s Chemicals segment, as well as the Special Chem business. These businesses generated approximately €4.1 bn in net sales in 2021. … Read more
Borealis has announced it will not go ahead with plans to sell its nitrogen fertilizer business to Russian-owned, Swiss-based fertilizer producer EuroChem. The deal is among many other European chemicals agreements that have been cancelled due to the Russian invasion of Ukraine. The proposed binding offer of €455 million was unveiled in early February, and … Read more
Bayer and Cinven have entered into a definitive agreement regarding the sale of Bayer’s Environmental Science Professional business for a purchase price of $2.6 billion, Bayer announced on Thursday. “This divestment represents a very attractive purchase price and allows us to focus on our core agricultural business and the successful implementation of our Crop Science … Read more
HEXPOL has signed an agreement to acquire 70% of the shares in almaak from the existing owners Mr. Olaf Eichstädt and Mr. Thomas Schmeinta. almaak is a specialist in high quality recycled engineered polymer compounds based in Germany. The acquisition is fully in line with the HEXPOL´s M&A strategy with desired growth in thermoplastic compounding … Read more