Grasim Industries Ltd (GIL) plans to commission its plants with 1.3 billion litres a year aggregate capacity by March 2024. The $1.3 billion investment of Grasim in the paint manufacturing business is likely to disrupt India’s paint industry. According to officials, the company wants to speed up the construction of paint plants in Panipat (Haryana), … 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
Brenntag, the global market leader in chemicals and ingredients distribution, announces the partnership with the Al-Azzaz Chemicals Company via a 75/25 joint venture. While Brenntag has been active in Saudi Arabia, this joint venture greatly expands the company’s presence and footprint with one of the largest speciality chemicals distributors on the Arabian Peninsula. Henri Nejade, … 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
Repsol has signed a technology license agreement that would allow the company to construct an ultra-high molecular weight polyethylene (UHMWPE) plant. The plant would be located in Repsol’s Industrial Complex in Puertollano (Spain) and would have an annual production capacity of at least 15 kt. The agreement boosts up Repsol’s ambition to become a future … Read more
INEOS Olefins Belgium is the first industrial player to sign an agreement with Fluxys to participate in the feasibility study for the development of an open access hydrogen network in the port of Antwerp. The cooperation follows the market consultation initiated by Fluxys last year to match supply and demand for hydrogen in the Belgian … 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
BP has collaborated with Abu Dhabi National Oil Company (ADNOC) and Masdar of Abu Dhabi for its planned hydrogen projects in Teesside, UK. The collaboration builds on strategic framework agreements signed by the companies in September last year. ADNOC will make its first investment in the UK to acquire a 25% stake in the design … 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
Air Liquide officially opened its largest liquid hydrogen production and logistics infrastructure facility in North Las Vegas, Nevada. The facility aims to supply the growing needs for hydrogen mobility, but will also allow to provide hydrogen to a wide array of industries while the mobility market continues to mature. The facility, and the associated logistics … 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
Indo Amines Ltd., a chemicals manufacturer based in India has reported financial results for the period ended March 31, 2022. Q4 Results The company’s net profit declined by 21.4% to Rs 96.84 million for the period ended March 31, 2022 as against Rs 123.14 million for the period ended March 31, 2021. Net sales increased … Read more
Transpek Industry Ltd., a chemicals manufacturer based in India has reported financial results for the period ended March 31, 2022. Q4 Results The company’s net profit grew by 3.2% to Rs 113.05 million for the period ended March 31, 2022 as against Rs 109.54 million for the period ended March 31, 2021. Net sales increased … Read more
Pidilite Industries Ltd., a specialty chemicals manufacturer based in India has reported financial results for the period ended March 31, 2022. Q4 Results The company’s net profit declined by 16.9% to Rs 2.54 billion for the period ended March 31, 2022 as against Rs 3.06 billion for the period ended March 31, 2021. Net sales … Read more
PI Industries Ltd., a specialty chemicals manufacturer based in India has reported financial results for the period ended March 31, 2022. Q4 Results The company’s net profit grew by 13.7% to Rs 2.04 billion for the period ended March 31, 2022 as against Rs 1.79 billion for the period ended March 31, 2021. Net sales … Read more
Balaji Amines Ltd., a chemicals manufacturer based in India has reported financial results for the period ended March 31, 2022. Q4 Results The company’s net profit grew by 28.7% to Rs 1.08 billion for the period ended March 31, 2022 as against Rs 844.98 million for the period ended March 31, 2021. Net sales increased … Read more