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
Nutrien Ltd. has announced that it has concluded a binding agreement with Ruralco Holdings Limited to acquire Ruralco for roughly $335 million. “The combination of our Landmark operations with Ruralco in Australia is expected to provide significant benefits for all stakeholders including delivering excellent value for both Ruralco and Nutrien shareholders. The acquisition is anticipated … Read more
Germany’s Merck KGaA has announced a counter bid to acquire Versum Materials for $5.9 billion in cash against U.S. rival Entegris’ $4 billion offer. The company said it planned to buy Versum for $48 per share ($5.2 billion excluding debt), a 51.7% premium to Versum’s undisturbed share price, on January 25, 2019, the day prior … Read more
Air Liquide announced the construction of the world’s largest PEM (Proton Exchange Membrane) electrolyzer in Canada with a capacity of 20 megawatts (MW) for the production of carbon-free hydrogen. This investment enables the Group to reaffirm its long-term commitment to the energy markets for hydrogen and its ambition to be a major player in the … Read more
Dow Chemical announced that after separation from DowDuPont on 1 April, it will set an initial annual dividend payment of $2.1 billion and launch a $3-billion stock buyback program. The company will target shareholder remuneration of approximately 65% of operating net income across the cycle, including dividend and share repurchases. Dow confirmed its plans to … Read more
ADNOC (Abu Dhabi National Oil Company) has signed a $4 billion midstream pipeline infrastructure deal with U.S. institutional investors KKR and BlackRock, the government-owned Abu Dhabi company announced on Sunday. The newly formed entity called ADNOC Oil Pipelines will lease the oil company’s interest in 18 pipelines of more than 750 km in total length … Read more
During Crown Prince Mohammed bin Salman’s visit to Beijing, Saudi Aramco signed a deal for a refining and petrochemical complex in China worth more than $ 10 billion. By signing supply deals with non – state Chinese refiners, Aramco is set to boost its market share. Saudi Aramco has signed a $ 10-billion joint venture … Read more
Chroma Color Corporation announced that it has acquired Polymer Concentrates Inc., based in Clinton, MA. With this latest acquisition, Chroma Color, together with its range of colorant and additive technologies, continues to increase its production footprint to better serve existing and prospective customers. Transaction terms have not been disclosed. Polymer Concentrates Inc., a private company, … Read more
The Government of Alberta has pledged support for the $1.51 billion methanol plant proposed by Nauticol Energy in the Canadian province. The methanol plant, which will be built 10 km south of Grande Prairie, will be supported by the provincial government with up to $60.61 million in the form of future royalty credits for phase … Read more
INEOS Styrolution, the world leader in styrenics, announced the completion of the acquisition of polystyrene sites from Total S.A. after all applicable regulatory and legal approvals have been received. The transaction, which was agreed on 31 August 2018, includes the purchase of the Foshan site in South China’s Guangdong Province and the Ningbo site in … Read more
Saudi Aramco to build a refinery and petrochemical complex worth $10 billion in Gwadar, Pakistan. Pakistan and Saudi Arabia signed investment deals worth more than $20 billion during Saudi Crown Prince Mohammed bin Salman’s visit to Islamabad last Sunday. The unprecedented Saudi investments are considered a “game – changer,” and a major boost for Pakistan’s struggling … Read more
PolyPlus Battery Company announced that it is entering into the initial phase of a Joint Development Agreement with SK Innovation Co. SK selected PolyPlus as its partner for its’ global consortium,’ following a extensive due diligence process. This partnership concentrates on PolyPlus’ solid state lithium anode laminate that can double the energy density and cycle … Read more
Nouryon has licensed its cutting – edge carbon disulfide (CS2) manufacturing technology to one of the leading manufacturers of viscose fibers in Indonesia to enhance its production on Sumatra Island. In order to better service its customers in the Asia / Pacific region, any CS2 excess volume produced by the plant can be marketed by … Read more
The divestiture is expected to result in net cash proceeds of at least $615 million, which will be immediately utilized to pay down debt.