Braskem has signed a memorandum of understanding (MOU) with the SCG Chemicals to perform studies to jointly invest in a new bio-ethanol dehydration plant in Thailand to produce bio-ethylene and I’m greenTM bio-based Polyethylene. If implemented, this cooperation could double the existing capacity of I’m greenTM bio-based PE. “Amidst the ever-increasing demand for circular economy … Read more
Shree Ganesh Remedies Ltd announced that its Board of Directors have decided to enter into the Share Purchase Agreement to acquire the 74% stake of Dhari Chemicals Limited (DCL). DCL was incorporated to carry on the business of manufacturing of speciality chemicals, chemical compounds (organic and in-organics) in all forms (solid, liquid and gaseous) and … Read more
Neogen Chemicals Limited has announced that the Phase I commercial production for manufacturing of organic chemicals has commenced at full scale successfully at its Greenfield facility in Dahej Special Economic Zone (SEZ). The Phase I of Greenfield facility at the SEZ in Dahej is set to double Neogen’s organic chemical manufacturing capacity. The facility will … Read more
LG Chem Ltd. will partner with biodiesel company Dansuk Industrial to establish a joint plant, in order to secure bio-materials required for the production of eco-friendly products. LG Chem announced that it had signed a Heads of Agreement (HOA) for the establishment of a hydro-treated vegetable oil (HVO) joint venture at the Dansuk Industrial headquarters … Read more
Chemplast Sanmar announced that it has redeemed, on 31st August 2021, the entire outstanding non-convertible debentures (NCDs) that were issued in December 2019 by the company. The redemption of these NCDs amounting to Rs 1238.25 crores ($169.5 million), which was part of the objects of the primary issue, was made using the net proceeds of … Read more
South Korean petrochemical producer SK Global Chemical (SKGC) will rebrand itself as SK Geo Centric (SKGC) as it moves to transform its business portfolio to focus more on eco-friendly products such as recyclable plastics. Under its initial action plan, the company will inject about 5 trillion won (~$4.3 billion) to roll out more eco-friendly materials … Read more
Anupam Rasayan India Ltd has received and signed Letter of Intent (LOI) amounting Rs 135 crore ($18.5 million) with a Japanese Multinational Chemical company for supplying a life science related speciality chemical product. The specialty chemicals firm will enter into a long-term contract with the Japanese multinational firm for next four years to supply this … Read more
Phillips Carbon Black Ltd announced that its Board of Directors at a meeting held on Friday, 27th August, 2021, have considered and approved the raising of funds for an aggregate amount not exceeding Rs 500 crores ($68.5 million). The company plans to raise funds through issue of securities by way of private placement or preferential … Read more
DKSH’s Business Unit Performance Materials, a leading distributor of specialty chemicals and ingredients, has expanded its existing partnership with DSM Human Nutrition and Health to India. Under the agreement, DKSH will provide marketing and sales as well as distribution and logistics for DSM’s range of standard premixes for the food and beverage industry, including concepts … Read more
Nayara Energy, a downstream energy company of international scale announced that it has achieved financial closure for phase one of its expansion plans into petrochemicals. The company signed a financial agreement with a consortium of banks led by State Bank of India for a project term loan of Rs 4,016 crore ($541.7 million). The company … Read more
Abu Qir Fertilizers and Chemical Industries Company, Helwan Fertilizer Company, and Al Ahly Capital Holding Company signed a shareholder agreement to establish the Misr Methanol and Petrochemical Company to produce methanol, ammonia, petrochemicals and others. The Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, witnessed the signing of a shareholder agreement for the establishment … Read more
Sika acquires Shenzhen Landun Holding Co., Ltd., a manufacturer of waterproofing systems in China. Landun offers a comprehensive range of waterproofing products and technologies, perfectly complementing Sika’s existing portfolio. The combined offering will provide new growth opportunities in the fast-growing Chinese waterproofing market. Financial terms of the deal were not disclosed. Landun is a highly … Read more
Malaysia’s Sime Darby Plantation (SDP) and PTT Global Chemical (PTTGC) have divested their collective 100% equity interest in the Asia Pacific business of Emery Oleochemicals and Emery Specialty Chemicals to Edenor Technology in a deal worth RM38 million ($9 million). Emery Oleochemicals, Emery Specialty Chemicals and their subsidiaries are a 50:50 joint venture between Sime … Read more
LG Chem is investing 2.6 trillion Won (~$2.2 billion) over the next eight years to build 10 new plants that will produce eco-friendly materials at its Daesan petrochemical complex in Chungnam province. The investment will include plants that will produce 50,000 tonnes per year of polybutylene adipate-co-terephthalate (PBAT) and 100,000 tonnes per year of polyolefin … Read more
Bodal Chemicals Ltd has decided to sell its Unit – VI, situated at Plot No. 606,607, G.I.D.C., Panoli, Nr. Ankleshwar, Dist. Bharuch, Gujarat. The company said that Unit-VI is inoperative and is not a significant unit in terms of revenue or net worth of the company. Also, it stated that the company has not calculated … Read more
Meghmani Finechem Ltd., a chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit grew 13% to Rs 36.95 crores ($5 million) for the period ended June 30, 2021 as against net profit of Rs 32.76 crores ($4.4 million) for the previous … Read more
Meghmani Organics Ltd., a specialty chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit grew 90.3% to Rs 68.56 crores ($9.2 million) for the period ended June 30, 2021 as against net profit of Rs 36.02 crores ($4.8 million) for the … Read more
Toyo Engineering Corporation has been awarded a contract for a project to construct a polypropylene (PP) plant from Prime Polymer Co., Ltd. As part of the deal, Toyo will carry out the EPC contract on a full turn-key basis that includes engineering, procurement, and construction. Toyo will build the 200,000 metric tons per year capacity … Read more
Bodal Chemicals Ltd., a dyes & chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit grew 27% to Rs 29.85 crores ($4 million) for the period ended June 30, 2021 as against net profit of Rs 23.57 crores ($3.2 million) for … Read more
Ishan Dyes and Chemicals Ltd., a dye and dyestuff manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit declined 11.2% to Rs 3.09 crores ($0.42 million) for the period ended June 30, 2021 as against net profit of Rs 3.48 crores ($0.47 … Read more