LyondellBasell Industries N.V. (LYB) reported lower earnings for the first quarter of 2023 compared to the same period last year, primarily due to weak margins. Despite this, the company continues to anticipate a slight increase in global demand driven by seasonal trends, with transportation fuel demand expected to increase over the summer. Financial Results LyondellBasell … Read more
Linde plc, a leading global supplier of industrial gases, reported impressive first-quarter 2023 financial results, exceeding analysts’ expectations. The company’s quarterly revenues of $8,193 million also beat market estimates. Revenue Performance Linde’s total revenues for the quarter declined from the year-ago quarter’s $8,211 million. However, the company’s strong earnings were driven by increased prices and … Read more
Dow Inc., a leading chemicals and materials manufacturer, reported a loss of $93 million in Q1 2023. This compares to a profit of $1,569 million in the same period a year ago. The company saw lower sales across its segments in the quarter due to weaker macroeconomic activity globally, which resulted in a 22% year-over-year … Read more
PureCycle Technologies, Inc., announced it has reached mechanical completion of its first polypropylene purification plant in Ironton, and submitted documentation to Leidos Engineering, LLC, the site’s independent construction monitor, for formal certification of completion. PureCycle prepared the final closure documentation consistent with the requirements set forth by Lei-dos and believes the information to be complete … Read more
Orion Engineered Carbons, a specialty chemicals company, announced that cogeneration technology that produces renewable energy has been installed at its Ivanhoe plant in the southern U.S. state of Louisiana, making the facility more efficient, reliable, and sustainable. The cogeneration system, which includes a steam turbine generator, uses the waste steam from the carbon black plant’s … Read more
A coalition of companies, including major utilities such as Dominion Energy, Duke Energy, Southern Company, and the Tennessee Valley Authority (TVA), has applied for federal funding to build a green hydrogen network spanning six southeastern states in the USA. The Southeast Hydrogen Hub coalition has completed its full application to the US Department of Energy … Read more
Chemours Company and TC Energy have signed a memorandum of understanding (MOU) to potentially develop two hydrogen production facilities in West Virginia. The facilities would be located at or near Chemours’ Belle and Washington Works manufacturing sites and support the Appalachian Regional Clean Hydrogen Hub (ARCH2) initiative. The companies aim to develop, build and operate … Read more
Barentz International, a leading global life science and performance materials ingredients distributor has, in close collaboration with its joint venture partner, Tovani Benzaquen, expanded its activities in South America. The company proudly announces the acquisition of Metachem Industrial e Comercial Ltda and its associate Chemtra Comercial Importação e Exportação Ltda., considered one of the main … Read more
KBR announced that it has signed a memorandum of understanding (MoU) with Atlas Agro AG to license KBR’s innovative K-GreeN® technology for Atlas’ planned investment in a series of green nitrate plants. Under the terms of the MoU, KBR will provide technology licensing, basic engineering design, proprietary equipment, and catalyst for the plants, which will … Read more
TotalEnergies SA (Paris, France) has accepted an offer from Pacific Avenue Capital Partners for the acquisition of three product lines (Wingtack, PolyBD, and Dymalink) developed by Cray Valley, its resin production and sales affiliate. The transaction includes four production sites in the United States, the Cray Valley Italy affiliate, and the portfolio of customers. The … Read more
Royal DSM, a global science-based company focused on health and nutrition, has announced the completion of the sale of its Engineering Materials business to Advent International and LANXESS for an enterprise value of €3.85 billion. The sale agreement was first announced on May 31, 2022. Divestment of Materials Businesses The transaction covers all of DSM’s … Read more
Linde announced that it has signed a long-term agreement with ExxonMobil for the off-take of carbon dioxide associated with Linde’s new clean hydrogen production in Beaumont, Texas. Linde previously announced that it will build, own and operate an on-site complex to supply clean hydrogen and nitrogen to OCI Global’s new world-scale blue ammonia plant. Linde’s … Read more
Yara Clean Ammonia and Enbridge Inc. have signed a letter of intent to develop and construct a world-scale low-carbon blue ammonia production facility as equal partners. The proposed facility will be located at the Enbridge Ingleside Energy Center (EIEC) near Corpus Christi, Texas. The production facility will be capable of supplying low-carbon ammonia to meet … Read more
Evonik has officially begun construction of its $220 million global-scale production facility for pharmaceutical specialty lipids in Lafayette, Indiana, in the United States. The new facility is expected to secure the industry’s access to critical excipients needed for mRNA vaccines and other nucleic acid therapies. The plant is scheduled to go onstream in 2025. “Our … Read more
INEOS Styrolution America LLC and Agilyx ASA are advancing the development of a previously announced 100 tons per day TruStyrenyx™ chemical recycling facility in Channahon, Illinois. The facility aims to recycle post-use plastics to high-value, virgin-equivalent products. TruStyrenyx is a partnership between Agilyx and Technip Energies and provides an all-in-one solution for the chemical recycling … Read more
Nouryon announced that it has commissioned a chlorine dioxide plant to modernize and expand the Arauco pulp mill in Chile. The project, called the MAPA project, is a $2.35 billion pulp mill and is the largest industrial project in the Biobío region. The new plant adds 1.56 million tons per year of eucalyptus pulp capacity … Read more
Corrosion Innovations, LLC, a leading global player in the corrosion-prevention industry, announced on March 16, 2023, that it has acquired the ChlorRid™ product line from Milliken & Company, a major player in the coatings additives business. The ChlorRid™ product line includes surface decontamination, passivation products, and salt testing kits for soluble salt detection and removal. … Read more
Univar Solutions Inc. and Apollo announced that funds managed by affiliates of Apollo have entered into a definitive merger agreement to acquire the Company in an all-cash transaction that values the Company at an enterprise value of approximately $8.1 billion. The transaction includes a minority investment from a wholly-owned subsidiary of the Abu Dhabi Investment … Read more
LyondellBasell announced it has successfully started up the world’s largest propylene oxide (PO) and tertiary butyl alcohol (TBA) unit in Texas. These new assets on the U.S. Gulf Coast have an annual capacity of 470 thousand metric tons of PO and one million metric tons of TBA and its derivatives. “The world-leading capacity of the new … Read more
thyssenkrupp nucera and Unigel have signed a Memorandum of Understanding (MoU) to increase the capacity of the green hydrogen plant that Unigel is developing in Bahia, Brazil, from 60 MW to 240 MW of water electrolysis. The signing ceremony was held in Belo Horizonte, during the visit of the German Federal Minister for Economic Affairs … Read more