Abu Dhabi National Oil Co. (ADNOC) has reportedly made a significant offer exceeding €10 billion ($10.9 billion) to acquire Covestro AG, a leading chemicals giant. The news of the potential takeover caused Covestro’s stock to surge, with shares jumping by double digits. ADNOC, traditionally an oil and gas producer, aims to diversify its portfolio and … Read more
Hong Kong SAR, China – BASF has broken ground on a polyethylene (PE) plant at its Verbund site in Zhanjiang, China. The new plant with a capacity of 500,000 metric tons of PE annually will serve the fast-growing demand in China. The plant is scheduled to start up in 2025. “China’s demand for PE has … Read more
Brenntag, the global market leader in chemicals and ingredients distribution, announced the acquisition of Shanghai Saifu Chemical Development Co., Ltd., one of the most respected market leaders in specialty distribution with expertise in Personal Care Chemicals in China. The acquisition of Saifu in China fits Brenntag’s acquisition strategy as a leading consolidator in the industry … Read more
Saudi-based Methanol Chemicals Co., known as Chemanol, has unveiled its strategic plan to diversify its product portfolio by acquiring controlling stakes in two chemical firms. In a recent disclosure to the Saudi Stock Exchange (Tadawul), Chemanol announced the signing of a binding offer to acquire 80 percent of Global Co. for Chemical Industries Ltd. Additionally, … Read more
The Lubrizol Corporation, a global leader in specialty chemicals, is advancing its commitment to continued growth in India with several significant projects across its portfolio. The company is pledging more than 150 million USD of in-region investment, including breaking ground on India’s largest CPVC resin plant in Vilayat, Gujarat, doubling capacity at its site in … Read more
The China National Chemical Engineering Corporation (CNCEC) has recently partnered with Aeon Corporation, led by Russian billionaire Roman Trotsenko, to construct a methanol plant in Volgograd. This joint venture, marked by the signing of an engineering, procurement, and construction contract, was announced during the St. Petersburg International Economic Forum. The project holds significant importance for … Read more
Shell is making good progress towards its target to become a net-zero emissions energy business by 2050, by reducing emissions from its operations, and from the fuels and other energy products it sells to customers. Shell will continue to make progress by aiming to achieve near-zero methane emissions by 2030 and to eliminate routine flaring … Read more
MOL Clean Energy, US, LLC (MCE), a 100 percent subsidiary of Mitsui O.S.K. Lines, Ltd. (MOL), and Clean Hydrogen Works, LLC (CHW) announce MCE as a Joint Venture shareholder in Ascension Clean Energy (ACE), a proposed world-scale, clean hydrogen-ammonia production and export facility in Ascension Parish, Louisiana. Other shareholders are CHW, Denbury Inc., a world-leading … Read more
Yara and Cepsa have agreed on a strategic partnership to set up the first clean hydrogen maritime corridor between the ports of Algeciras and Rotterdam for the decarbonization of European industry and maritime transport. The partnership envisages Yara Clean Ammonia (YCA) supplying Cepsa with clean ammonia volumes, which will allow the energy company to get … Read more
PETRONAS Chemicals Group Berhad (PCG) has reached the final investment decision (FID) to fully acquire the 113 kilo-tonnes per annum (ktpa) Maleic Anhydride (MAn) plant located in Gebeng, Kuantan from BASF PETRONAS Chemicals Sdn. Bhd. (BPC). The plant will broaden PCG’s product portfolio and its derivatives to further strengthen PCG’s derivatives product offerings. The FID … Read more
Anupam Rasayan, a prominent player in custom synthesis and specialty chemicals in India, has recently signed a Letter of Intent (LOI) with a leading Japanese specialty chemical company. The agreement entails a projected revenue of $265 million (Rs 21.86 billion) over the course of the next five years. The purpose of this partnership is to … Read more
Bain Capital Private Equity, a leading global private investment firm, announced the acquisition of Porus Labs, a leading manufacturer of agricultural and specialty chemicals. Bain Capital’s resources and industry experience will enable Porus Labs to unlock significant growth through investments in talent, business development, capacity expansion, process engineering, and developing or acquiring distinctive chemical capabilities. … Read more
In a recent development in the Brazilian chemical industry, Unipar Carbocloro, a major player in the chlor-alkali and PVC manufacturing sector, has put forward a non-binding proposal to acquire control of Braskem, the leading producer of polyolefins in Brazil. This move holds significant implications for both companies, as well as for the overall market dynamics … Read more
Elkem ASA has acquired VUM, a Slovak producer of carbon materials. The transaction will further increase Elkem’s capacity and competence in attractive specialty markets and increase its flexibility in the supply chain. Elkem expects the acquisition to contribute to an additional turnover of around NOK 360 million per year. VUM was founded in 1954 and … Read more
Toray Industries, Inc., announced that it will again increase production capacity for Torayfan biaxially oriented polypropylene (BOPP) film at the Tsuchiura Plant in Ibaraki Prefecture. The move is part of ongoing efforts to meet the growing demand for automotive capacitor film in an expanding market for electrified vehicles. When they go online in 2025, the … Read more
Sumitomo has completed the acquisition of Saconix LLC. from a U.S. private equity fund to make Saconix a wholly-owned subsidiary of the Sumitomo Corporation Group. Saconix is engaged in the distribution and transportation service of sulfuric acid in the US West and Gulf. Sulfuric acid is one of the world’s most used chemicals in a … Read more
Element Solutions Inc, a global specialty chemicals company, has made two significant moves to strengthen its position in the advanced electronics materials markets. These transactions are expected to generate approximately $15 million of annualized adjusted EBITDA and hold great growth potential as the electronics industry improves and new technologies gain customer approvals. Firstly, Element Solutions … Read more
Solvay S.A. (Brussels, Belgium) and Sapio are partnering in the joint development of the Hydrogen Valley Rosignano Project, a large-scale hydrogen production plant with locally-sourced green energy in Rosignano, Italy. Led by two technology leaders in the hydrogen economy, this project will further enable the decarbonization of Solvay’s activities in Rosignano, leading to a 15% … Read more
Johnson Matthey, a global leader in sustainable technologies, is set to supply Fujian Zhongjing Petrochemical Group with the latest butanediol (BDO) technology. This technology is essential for the production of bio-degradable plastics (PBAT), as China intensifies its efforts to eliminate single-use plastics and combat pollution. The construction of three BDO plants will take place in … Read more
Air Liquide announces that it has invested nearly $70 million U.S. dollars in state-of-the-art plants in North Texas to supply ultra-high purity nitrogen and oxygen to the electronics industry. These investments will support the expansion of two existing manufacturing facilities and will also be used to build, own and operate onsite plants and systems at … Read more