BASF has announced an investment in the production of water-based anode binders to support the lithium-ion battery industry. The new binders will be produced at two existing dispersion plants in Jiangsu and Guangdong, China. In addition to their existing product portfolios, the two plants will produce two innovative anode binders: Licity® and Basonal Power® based … Read more
Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced Alujain National Industrial Co. has selected its C3 CATOFIN® propane dehydrogenation (PDH) technology for their new propylene plant in Yanbu, Kingdom of Saudi Arabia (KSA). This is the first time Alujain will license Lummus’ PDH technology at its Yanbu complex. “We are … Read more
Braskem, the Brazilian petrochemical company, has received a joint non-binding offer from Apollo Global Management and Abu Dhabi National Oil Company (ADNOC). However, the terms of the offer have divided opinion in the market, with creditor banks not unanimous on the figures, and doubts remain as to whether Petrobras will agree to sell its stake … Read more
INEOS Inovyn and HyMove have announced their intention to deliver high-purity, low-carbon hydrogen, produced at the INEOS Inovyn site in Tavaux (France), to the transport sector across Eastern France. The project, which is known as ‘ReadHy to Move’ will help decarbonize passenger and freight transport in line with French national emission reduction targets. INEOS Inovyn … Read more
Allkem and Livent, two lithium companies, are set to merge and form the world’s third-largest miner of lithium, a key metal used in batteries that power electric vehicles and high-tech devices. This all-share merger creates a new company with a valuation of US$10.6 billion and a projected production capacity of 248,000 tonnes of lithium carbonate … Read more
DSM and Firmenich have completed their merger, resulting in the creation of DSM-Firmenich, a new company that combines the strengths of both firms. The merger will allow the company to offer a more extensive range of products and services to its customers in four distinct business units. Business Units of DSM-Firmenich The four business units … Read more
Arkema, a leading chemical company, has released its financial results for Q1 2023. Despite continued low volumes and weak demand in Europe, the company has achieved a solid financial performance in line with its full-year guidance for 2023. Sales Decline, But Prices Remain Resilient Arkema reported sales of €2.5 billion for the first quarter of … Read more
UPL Ltd., a leading agrochemical company, has recently reported its financial results for Q4 FY23 and the full fiscal year. The company’s PAT (Profit After Tax) for the quarter was INR 7.92 billion, a significant decline of 43% compared to the corresponding period last year when it was INR 13.79 billion. However, the company’s revenue … Read more
Canlak Coatings Inc., a portfolio company of SK Capital Partners and leading formulator and manufacturer of high-quality wood coating systems announced the acquisition of Ceram-Traz Corporation d.b.a Ceramic Industrial Coatings. Ceramic Industrial Coatings is a manufacturer of proprietary wood coating systems and related CASE (coatings, adhesives, sealants, and elastomers) products. The acquisition of Ceramic Industrial … Read more
Kemira Oyj announced the closing of the divestment of most of its colorants business to ChromaScape. Kemira signed a definitive agreement to sell its colorants dye business to US-based ChromaScape, LLC in September 2022. The revenue of the business in 2022 was approximately 50 MEUR and 59 employees will be transferred to ChromaScape as part … Read more
Evonik has begun construction of a new production plant for alkoxides in Southeast Asia. The mid-double-digit million-euro investment will enhance supply security for customers in the region and further strengthen the company’s global alkoxides business. The company is expanding its production capabilities in response to the growing demand for alkoxide catalysts, which are primarily used … Read more
Belgian chemicals group Solvay has reported strong financial results for Q1 2023, with higher-than-expected net sales and underlying EBITDA. Although lower volumes impacted the company’s shares, Solvay’s ongoing focus on higher pricing in all segments has helped to offset the negative effects of softer demand across several end markets. Net Sales in Q1 2023 Grew … Read more
DuPont, a leading global innovation and technology-based company, has announced the acquisition of Spectrum Plastics Group from AEA Investors. The acquisition is expected to be completed by the end of the third quarter of 2023, subject to regulatory approvals and customary closing conditions. The purchase price of $1.75 billion will be paid from existing cash … Read more
DuPont, a leading chemical company, has reported an 8% decrease in net sales in the recent quarter. This decrease was primarily due to a 3% decline in organic sales, along with 3% currency headwinds and a 2% unfavorable portfolio impact. The decline in organic sales was largely due to a 7% decrease in volume, which … Read more
Glenfarne Energy Transition partners with Samsung Engineering for green hydrogen and ammonia projects in Chile. Glenfarne Energy Transition has entered into a collaboration agreement with Samsung Engineering to conduct feasibility studies for multiple green hydrogen and ammonia initiatives in Chile. This partnership is a part of Glenfarne’s Hydrogen Fuels Initiative, which aims to advance the … Read more
W. R. Grace & Co has achieved another significant milestone in the Asian market with the start-up of a 500 KTA polypropylene reactor line by PetroChina Guang-Dong PetroChemical Company, a subsidiary of PetroChina Group. The plant will produce homopolymer, random copolymer, and impact copolymer polypropylene resins, catering to the increasing demand for high-quality PP resins … Read more
Covestro, a leading global supplier of high-performance polymer materials, reported its first quarter 2023 results. Despite a challenging business environment and weak demand, the company exceeded its own and analysts expectations. Group sales were down 20.1% to EUR 3.7 billion, and EBITDA was 64.5% lower year over year at EUR 286 million. However, the company’s … Read more
LyondellBasell Industries N.V. (LYB) reported lower earnings for the first quarter of 2023 compared to the same period last year, primarily due to weak margins. Despite this, the company continues to anticipate a slight increase in global demand driven by seasonal trends, with transportation fuel demand expected to increase over the summer. Financial Results LyondellBasell … Read more
Linde plc, a leading global supplier of industrial gases, reported impressive first-quarter 2023 financial results, exceeding analysts’ expectations. The company’s quarterly revenues of $8,193 million also beat market estimates. Revenue Performance Linde’s total revenues for the quarter declined from the year-ago quarter’s $8,211 million. However, the company’s strong earnings were driven by increased prices and … Read more
BASF, a leading chemical company headquartered in Germany, recently released its first-quarter statement for the 2023 business year, reporting sales of €20.0 billion, which is down by €3.1 billion compared to the prior-year quarter. Despite a challenging economic environment, the company’s EBIT before special items of €1.9 billion were significantly above average analyst estimates. Sales … Read more