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
JK Cement Ltd, a leading manufacturer of wall putty and grey cement in India, announced that it will make its foray into the paints business. “The board of directors of the company in their board meeting “approved entering into paint business through a wholly owned subsidiary, formation of new wholly owned subsidiary and investment in … Read more
BASF India Limited will expand the production capacity of its Ultramid polyamide grades to meet increasing market demand. The increased capacity at BASF’s production site in Panoli, Gujarat, will be available in Q4 2022. “The additional capacity reaffirms our dedication to being our customers’ supplier of choice for polyamidesand will help us meet the rapidly … Read more
Agro-chemicals major UPL Ltd said it will sell 49.98 per cent equity in its non-operational subsidiary firm Agri Net Solutions Ltd (ANSL) to promotor group entity Nerka Chemicals for Rs 17.5 million. UPL, in a regulatory filing, said it will offload the stake for a consideration of Rs 17.5 million and the deal is expected … Read more
Covestro recently started up two polycarbonate compounding production lines at its Greater Noida plant near New Delhi in India. The new plants are intended to meet the growing demand for compounded plastics, particularly for the automotive and electrical and electronics industries. In addition to its extensive polycarbonate portfolio, the company now has more than double … Read more
Indian refiner Nayara Energy, part-owned by Russian oil giant Rosneft, could likely delay its planned petrochemicals expansion as a result of Western sanctions in response to Russia’s invasion of Ukraine, industry executives with knowledge of the matter said. Rosneft owns a 49% stake in Nayara Energy, which operates a 20 million tonnes a year refinery … Read more
Mitsui Chemicals, Inc. announced that its subsidiary Prime Polymer Co., Ltd. has become the first company in Japan to commercially produce and ship biomass polypropylene (PP). Derived from bio-based hydrocarbons, this PP is certified as bio-based using the mass balance method in accordance with ISCC PLUS certification for plastic and chemical derivatives. Mitsui Chemicals received … Read more
ExxonMobil said it is planning a hydrogen production plant and one of the world’s largest carbon capture and storage projects at its integrated refining and petrochemical site at Baytown, Texas. The projects are a supporting effort to reduce emissions from company operations and local industry. “Hydrogen has the potential to significantly reduce CO2 emissions in … Read more
Arkema has closed its previously announced acquisition of Ashland’s Performance Adhesives business for around $1.65 billion in an all-cash transaction. The company signed an agreement to acquire Ashland’s business in August last year. Ashland’s Performance Adhesives business supplies a wide range of adhesives for flexible packaging and pressure-sensitive adhesives for various markets, including decorative labels, … Read more
India Glycols Ltd., a chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit declined 35.6% to Rs 240.1 million for the period ended December 31, 2021 as against net profit of Rs 372.8 million for the previous quarter. Net sales grew … Read more
Borouge, a joint-venture between The Abu Dhabi National Oil Company (ADNOC) and Borealis Group AG (Vienna, Austria), has announced the successful start-up of its new fifth polypropylene unit (PP5) in Ruwais. The new unit will contribute to boosting the UAE’s production of polypropylene to meet the growing global demand for manufactured products in the recyclable … Read more
Arkema has announed the planned acquisition of Chinese company PMP (Shanghai Zhiguan Polymer Materials), which specialises in reactive hot-melt polyurethane (HMPUR) adhesives and generates over €1 million in annual sales. These adhesives are mainly dedicated to the consumer electronics market and are used in the bonding of mobile phones, tablets, laptops and connected objects. “Thanks … Read more
Celanese has agreed to acquire the bulk of DuPont’s Mobility and Materials unit for $11 billion, combining two of the world’s leading engineering polymers businesses. Included in the transaction are many materials that are used in demanding applications such as automotive and electronics parts. One key material is DuPont’s nylon 6,6 business, which has been … Read more
Hy2gen AG, the green hydrogen investment platform, announced the successful completion of a €200 million, investment round. The capital will be used for the construction of facilities in several geographies including Europe, producing green hydrogen-based fuels – or “e-fuels” – for maritime and ground transport, aviation and industrial applications. The investment, which is the largest … Read more
India’s Bodal Chemicals is in advance negotiations to buy Chlor-Alkali business of Mawana Sugars as the Delhi-based firm looks to focus on its core sugar business, according to a report by ET. The transaction will value Mawana Sugars’ Alkali business between Rs 2.5-3.5 billion, multiple sources close to the transaction told ET. Mawana Sugars, part … Read more
DCW Ltd., a chlor-alkali chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 35.7% to Rs 266.86 million for the period ended December 31, 2021 as against net profit of Rs 196.72 million for the previous quarter. Net sales grew … Read more
Galaxy Surfactants Ltd., a specialty chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 8.8% to Rs 456.2 million for the period ended December 31, 2021 as against net profit of Rs 419.4 million for the previous quarter. Net sales … Read more
Tata Chemicals Ltd., a leading chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 40.3% to Rs 3.1 billion for the period ended December 31, 2021 as against net profit of Rs 2.21 billion for the previous quarter. Net sales … Read more
Atul Ltd., a leading chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 6% to Rs 1.55 billion for the period ended December 31, 2021 as against net profit of Rs 1.46 billion for the previous quarter. Net sales grew … Read more
Aarti Industries Ltd., a leading specialty chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021. Q3 Results- QoQ The company’s net profit grew 338.6% to Rs 7.72 billion for the period ended December 31, 2021 as against net profit of Rs 1.76 billion for the previous quarter. Net … Read more