Clariant Catalyts has teamed up with Linde Engineering to develop new catalysts for the oxidative de-hydrogenation of ethane (ODH-E), an innovative, low-emissions catalytic technology for the production of ethylene. The novel catalyst is a step change in selectivity and productivity, now making ethylene production via ODH-E commercially feasible. Clariant’s ODH catalysts are available exclusively for … Read more
Dow announced its plan to build the world’s first net-zero carbon emissions integrated ethylene cracker and derivatives site with respect to scope 1 and 2 carbon dioxide emissions. The project would more than triple Dow’s ethylene and polyethylene capacity from its Fort Saskatchewan, Alberta site, while retrofitting the site’s existing assets to net-zero carbon emissions. … Read more
Verdant Specialty Solutions, a global specialty chemical company, announced the acquisition of Baze Chemical. Baze is an ethoxylate specialty chemical company based in Odessa, Texas, serving customers in the oil and gas production, water treatment, and mining industries. Baze was acquired from its founder, Mr. Curtis Baze. Terms of the acquisition were not disclosed. Through … Read more
Epsilyte Holdings LLC, a leading provider of advanced materials has acquired StyroChem Canada, Ltd., a leading North American producer of expandable polystyrene (EPS) located in Baie d’Urfe, Quebec, from PMC Capital Partners, LLC. Details of the transaction were not announced. Epsilyte is owned by Balmoral Funds and management. This acquisition creates one of the largest … Read more
Hexion Holdings Corporation today announced its plan to separate into two independent companies through an IPO and spinoff of its epoxy business. The two companies will be Hexion Holdings, composed of the Company’s Adhesives and Versatic Acids and Derivatives product lines, and Hexion Coatings and Composites (US) Inc. (HCC), composed of Hexion Holdings’ former epoxy-based … Read more
DL Chemical Co., South Korea’s leading petrochemical company, has acquired Texas-based specialty chemical manufacturer Kraton Corp. for $2.5 billion, taking a step closer to its goal of becoming one of the world’s top 20 chemicals companies. DL Chemical, formerly known as Daelim Industrial Co., has signed a definitive agreement to buy 100% of the US-listed company … Read more
Origin Materials, Inc., the world’s leading carbon negative materials company, announced it has joined the Alliance to End Plastic Waste, a global non-profit organization. Members of the Alliance include industry leaders across the plastics value chain, working towards a common goal of developing, deploying and scaling solutions to end plastic waste in the environment. As … Read more
Huntsman Corp. announced that its Performance Products division has completed the initial phases of a project to expand and widen its portfolio of E-GRADE specialty amines at its Conroe, Texas facility. These specialty amines also include quaternary amine alternatives to tetramethylammonium hydrox-ide (TMAH) and related products. The new facility is expected to be completed and … Read more
Apollo Global Management Inc, a private equity firm has approached pigment manufacturer Tronox Holdings Plc, with a $4.3 billion all-cash offer, according to a news report by Reuters. Apollo has offered $27 per share to buy Stamford, Connecticut-based Tronox. The pigment manufacturer has hired advisers to consider the bid and has yet to decide on … Read more
Mitsubishi Corporation and Shell Canada have signed a Memorandum of Understanding relating to the production of low-carbon hydrogen through the use of carbon capture and storage (CCS) near Edmonton, Canada. Mitsubishi aims to build and start-up the low-carbon hydrogen facility near the Shell Energy and Chemicals Park Scotford towards the latter half of this decade, … Read more
LyondellBasell announced it is weighing strategic options for its Gulf Coast-based Refining Segment, including a potential sale. “While the Houston Refinery is a valuable, well-performing asset, we have long held the belief that it may be even more valuable as part of a larger refining system,” said Bob Patel, CEO of LyondellBasell. “To that end, … Read more
Polytek Development Corp., a manufacturer of specialty polymers, announced today the acquisition of Specialty Resin & Chemical. Polytek is a portfolio company of Arsenal Capital Partners. Founded in 2007 and located in Dowagiac, MI, Specialty Resin & Chemical is a supplier of user-friendly mold making, casting, and coating products, including bar top epoxy resin and … Read more
PPG announced that it expects sales volumes in the third quarter 2021 will be lower by $225 million to $275 million, compared to what the company anticipated at the start of the third quarter. PPG’s sales volumes are being impacted by the increasing disruptions in commodity supplies; further reductions in customer production due to certain … Read more
Royal DSM announced signing an agreement to acquire First Choice Ingredients, a leading supplier of dairy-based savory flavorings for an enterprise value of US$453 million. This transaction represents an EV/EBITDA multiple of 19.8x based on the estimated 2021 Adjusted EBITDA. The estimated 2021 sales amount to about US$75 million. With headquarters in Germantown (WI, USA) … Read more
Arkema S.A. signed an agreement related to the acquisition of Ashland Global Holdings Inc.’s Performance Adhesives business for $1.65 billion. The company said that the acquisition is perfectly aligned with the Group’s ambition to become a pure Specialty Materials player by 2024. With estimated sales of around $360 million and an estimated EBITDA at a … Read more
LANXESS AG announced it plans to acquire the microbial control business from New York-based International Flavors & Fragrances (IFF) in a deal valued at $1.3 billion. According to a company press release, LANXESS expects the deal to be completed in the second quarter of 2022 following approval from regulators. It will be Lanxess’s second-largest acquisition … Read more
Indorama Ventures Public Company Limited (IVL) agreed to acquire Brazil-based Oxiteno S.A. Indústria e Comércio, a subsidiary of Ultrapar Participações S.A. The acquisition gives IVL a unique portfolio in high-value surfactants and significantly extends its existing Integrated Oxides and Derivatives (IOD) business. Oxiteno is a leading integrated surfactants producer, catering to highly attractive end-use markets … Read more
The Chemours Company has entered into a definitive agreement to sell its Mining Solutions business for $520 million in cash to Draslovka Holding a.s., a Czech-based private company specializing in cyanide production. The transaction is expected to close in the fourth quarter of 2021 subject to regulatory approvals and other customary closing conditions. Draslovka also … Read more
Chevron U.S.A. Inc., through its Chevron Products Company division (Chevron), and Cummins Inc. announced a memorandum of understanding (MOU) to explore a strategic alliance to develop commercially viable business opportunities in hydrogen and other alternative energy sources. The MOU provides the framework for Chevron and Cummins to initially collaborate on four main objectives: advancing public … Read more
Specialty chemicals firm Celanese announced that it entered into a definitive agreement to buy ExxonMobil Chemical’s Santoprene TPV elastomers business for $1.15 billion. Celanese will acquire the industry-renowned Santoprene brand as part of a comprehensive TPV product portfolio, along with intellectual property, production and commercial assets, and a world-class organization. ExxonMobil’s two manufacturing sites in … Read more