The association of German chemicals and pharmaceutical manufacturers, VCI, cut its 2019 industry sales forecast by 2.5% to €198.5 billion ($223.92 billion). The association, which represents companies operating in Germany, has reported that demand is falling from its domestic and European markets, particularly the pharma sector. “The future is turning out less optimistic than in … Read more
Merck KgaA filed with the U.S. Securities and Exchange Commission (SEC) a preliminary proxy statement on Tuesday urging all Versum shareholders to vote against the merger with the rival Entegris. Merck has reiterated in the statement that “it is convinced that the proposed Entegris transaction is not the best option available to the Versum shareholders, … Read more
The International Council of Chemical Associations (ICCA) today, in tandem with the start of the Fourth United Nations Environment Assembly (UNEA-4), released an analysis of the contributions of the chemical industry to the world economy: Global Chemical Industry – Catalyzing Growth and Addressing Our World’s Sustainability Challenges. According to the report, nearly every good-producing sector … Read more
Azelis has acquired Chemroy, a specialty food ingredients and chemical distributor from Canada. Financial details of the transaction were not disclosed. According to the company, the acquisition will strengthen its status as one of the leading distributors of specialty ingredients in Canada and will enhance its position in the coating, nutritional, personal care and food … Read more
AkzoNobel has opened a trailblazing laboratory complex that can test new products in conditions that imitate the most extreme environments in the world. The R&D campus at the Felling site will focus on delivering state-of – the-art innovation and products for the marine and oil & gas industries. The laboratory in the campus will be … Read more
On Friday, DowDuPont announced that its Board of Directors has agreed to the previously announced separation of its Materials Science Division. The division will become the new Dow on April 1. DowDuPont’s board of directors declared a dividend for the second quarter of $325 million to be paid on May 28, 2019, in the aggregate … Read more
Eni signed an agreement for the start of research projects to produce Hydrogen from plastic packaging waste with COREPLA, the National Consortium for the Collection, Recycling and Recovery of Plastic Packaging. Giuseppe Ricci, Eni Chief Refining & Marketing Officer, and COREPLA President Antonello Ciotti signed the agreement. The joint working group will assess the start … Read more
Nouryon (formerly AkzoNobel Specialty Chemicals) has announced to build a world scale polymerization plant for its Expancel expandable microspheres at a location in the U.S. The plant will strengthen its leadership position significantly in expandable microspheres. Expancel microspheres are used as lightweight filler and blowing agent to lighten end products, obtain various surface effects, and … Read more
BP, Virent Inc. and Johnson Matthey (JM) have signed an agreement to further advance the commercialization of Virent’s Bioforming ® bio – paraxylene (PX) production process, a key raw material for renewable polyester production. Developed in partnership with JM, Virent’s Bioforming ® technology produces recycling products from renewable sources that can be used to produce … Read more
On Tuesday, Germany’s Merck KGaA called on Versum Materials shareholders to put pressure on the management of the electronic materials manufacturer to consider their takeover bid over a rival Entegris’ bid. Versum rejected Merck’s unsolicited $5.9 billion cash offer on Friday. The proposal made to the management was non-binding and has not been submitted to … Read more
On Tuesday, Huber Engineered Materials (HEM), a subsidiary of J.M. Huber Corporation, announced that it had entered into a definitive agreement with Dunes Point Capital, LP to acquire Miller Chemical & Fertilizer, LLC. The current team and management will continue to run the operations of Miller as a business unit within HEM. Huber looks forward … Read more
Celanese Corporation announced on Tuesday that the Donegani facility at Ferrara, Italy will expand its production capacity for Pibiflex ® and Riteflex ® TPC (thermoplastic copolyester) to support its ongoing growth of its global engineered materials business. Thermoplastic co – polyester (TPCs) constitute the block co – polymers combining favorable rubber properties with the easier … Read more
Evonik signed an agreement to sell its methacrylates business for € 3 billion ($ 3.4 billion) to Advent International. The sales price is 8.5 times the EBITDA of the business. The transaction is subject to regulatory approvals in various countries and is due to close in the third quarter of this year. Globally, Evonik’s methacrylates … Read more
On Tuesday, the Indian state of Odisha accorded Haldia Petrochemicals Ltd’s (HPL) proposal to invest $ 4 billion to establish an integrated refinery with aromatics complex for production of Paraxylene and Purified Terepthalic Acid (PTA) at Baliapal. The land for the project was identified near the upcoming port of Subarnarekha, which is being built by … Read more
The consortium of Air Liquide, Nouryon, Enerkem and the Port of Rotterdam – has announced on Friday that Shell will join as a partner in Europe’s first advanced waste to chemicals facility in Rotterdam, Netherlands. In the proposed commercial – scale waste – to – chemicals (W2C) project, Shell will become an equity partner. “We … Read more
German Stockmeier Group acquired Química Industrial, Spanish Indukern Group’s industrial chemical distribution division. The newly founded Stockmeier Química SLU will take over the business. According to Indukern’s growth strategy, the agreement to sell its Industrial Chemicals division to the Stockmeier Group prioritizes the activities of its four other divisions. “We are very pleased that the … Read more
Exxon Mobil Corporation announced that after 38 years of service, John Verity, chairman of ExxonMobil Chemical Company, chose to retire. The board of directors appointed senior vice president of basic chemicals, Karen McKee as ExxonMobil Chemical Company’s next president effective April 1, 2019. McKee, 52, joined Exxon Chemical Company in the UK in 1990, where … Read more
Versum Materials (VSM) announced that its Board of Directors rejected Merck KGaA’s unsolicited and non – binding proposal to acquire Versum at $ 48 per share in cash received on February 27, 2019. “After careful review and consideration, conducted in consultation with its independent financial and legal advisors, the Versum Board concluded that Merck KGaA’s … Read more
Quaker Chemical Corporation opened its state-of – the-art manufacturing facility in Dahej, India. The site will be used to produce rolling oils and metalworking fluids for the steel and metalworking market in India and the MEA. The company has been building a strong brand presence in the country since 1997 to support the metalworking fluids … Read more
INEOS will invest £ 1 billion in several projects in the UK to ensure that its British assets remain world class over a generation. The biggest investment being announced is in the Forties Pipeline System (FPS). This investment of £ 500 million will transform the asset and extend the pipeline’s life into the 2040s. INEOS … Read more