Danhua Chemical Technology Co., Ltd. is planning to purchase 100% equity of Jiangsu Silbang Petrochemical Co., Ltd. by way of issuance of shares. The transaction is valued around 11 billion yuan ($1.59 billion). The transaction is part of the company’s asset restructuring plan. On June 13, 2019, the company held the twenty-seventh meeting of the … Read more
SK Chemicals Inc., a chemical unit of SK Group, said that it has decided to acquire KCF Technologies Co., the world’s top producer of copper foil for lithium-ion batteries, in a bid to diversify its business portfolio. SK Chemicals said it will buy a 100 percent stake in KCF Technologies, currently owned by Kohlberg Kravis … Read more
Repsol, one of the largest energy companies, present in the entire value chain covering a wide range of petrochemicals’ production that includes styrene monomer, becomes a member of SCS. Repsol joins the four founding members of SCS (Styrenics Circular Solutions), INEOS Styrolution, Total, Trinseo and Versalis (Eni). SCS is now well established with producers of … Read more
China saw a 16 percent monthly drop of rare earth exports in May amid trade war escalation and an increased focus on domestic resources conservation and high-quality development of commodities, as reported by China Daily. Rare-earth exports by China fell to 3,640 metric tons in May from 4,329 tons in April, according to the General … Read more
Lion Elastomers, LLC announced on Monday the execution of a purchase agreement for an Orange, Texas production site owned and operated by Firestone Polymers, LLC, a wholly owned subsidiary of Bridgestone Corporation. The plant manufactures polybutadiene and styrene-butadiene copolymers, produced under the Stereon™, Diene™, and Duradene™ trade names. These products are complementary to Lion’s current … Read more
Polyscope Polymers B.V. has completed the business integration of the global styrene maleic anhydride (SMA®) copolymers business from Cray Valley S.A., Cray Valley HSC Asia Ltd, Cray Valley (Guangzhou) Chemical Co. Ltd. and Total Petrochemicals & Refining USA, Inc. Cray Valley was the global market leader for low molecular weight (LMW) SMA® products and the … Read more
INEOS has signed a Memorandum of Understanding with Saudi Aramco and Total, France, to build three new plants as part of the Jubail 2 complex in The Kingdom of Saudi Arabia. A new state-of-the-art 425,000 tonne acrylonitrile plant, will use INEOS’ world leading technology and catalyst. It will be the first plant of its kind … Read more
BASF and SINOPEC commenced production at the second propionic acid plant at the Verbund site, BASF-YPC Co., Ltd., a 50-50 joint venture in Nanjing, China. Commercial products are now available for sale to customers in China and the rest of Asia Pacific. The new plant has an annual production capacity of 30,000 metric tons of … Read more
Lotte Group’s Chemical Business Unit (BU) has announced plans to invest about KRW 3.7 trillion ($3.1 billion) in South Korea by 2022. Business Korea reported that Lotte Group is aiming to increase its global sales to KRW 50 trillion by 2030 as part of the expansion plans. Lotte Group chairman Shin Dong-bin also has further … Read more
Nippon Shokubai and Sanyo Chemical Industries announced on Wednesday that the two companies had reached a Basic Agreement to move ahead with the consideration toward the integration of their businesses based on an equal footing. They will establish a holding company in October 2020 to integrate operations, which will be followed by a full-blown merger … Read more
On 23rd of May, Orica and Guizhou Jiulian Industrial Explosives have signed final, binding documents to establish a joint venture for the manufacture and service delivery of explosives in China. This follows an agreement to work toward this outcome announced on 16 July 2018. Under the terms of the binding agreements, each party will contribute … Read more
BASF announced that it has developed OASE® gas treatment technology for methanol production which emits no carbon dioxide during the entire production process. The production processes of the most important basic chemicals are responsible for around 70 percent of the greenhouse gas emissions in the chemical industry. BASF experts are working intensely on new technologies … Read more
McDermott International, Inc. announced that it has been awarded a sizeable technology contract by MOL Petrochemicals for the basic engineering, technology license, catalyst and Front End Engineering Design (FEED) for an Olefins Conversion Technology (OCT) unit at MOL’s petrochemicals complex in Tiszaújvaros, Hungary. Once complete, this unit will have a production capacity of 100,000 MTA … Read more
Shell Chemical announced on Monday that the company will advance feasibility plans for a potential $1.2 billion manufacturing expansion at its Shell Geismar facility in Louisiana. At the 841-acre complex in Ascension Parish, Shell Chemical LP would build a world-scale monoethylene glycol (MEG) plant, pending final engineering, design and investment decisions. A decision to proceed … Read more
Hyundai Chemical Company, Ltd. has chosen Univation Technologies’ UNIPOL PE Technology for a 300 kTA high-density polyethylene (HDPE) plant to be located at Hyundai’s site in Daesan, Republic of Korea. Hyundai will utilize a broad range of Univation’s HDPE product technology portfolio including the ACCLAIM K-100 Catalyst Series for advanced HDPE products such as film, … Read more
The Uzbekistan Energy Ministry and a group of investors including Uzbekneftegaz, Uzkimyosanoat, Air Products & Chemicals Inc. and Enter Engineering announced on 16th of May that they have signed a Project Development Agreement (PDA) to build a new petrochemical plant based on MTO (methanol-to-olefins) technology. The project aims to use domestic gas supply to produce high … Read more
GAIL (India) approved the revival of the existing LPG plant in Usar, Maharashtra and converting it into polypropylene (PP) complex. The planned capacity of the PP complex is 500,000 metric tonnes per annum and will be built with an estimated investment of $ 1.2 billion (Rs 8800 crore), as stated in Business Standard news article. This … Read more
Lotte Chemical Corp said on Thursday that it expects that its U.S. ethane cracker will start commercial operations in Louisiana in May. The U.S. ethane cracker from Lotte Chemical is a joint venture with Axiall Corp, now merged with Westlake Corp. In the plant, Lotte owns 88 percent, while the rest is held by Westlake Corp. … Read more
DIC Corporation announced that it has acquired mid-tier Indian resins manufacturer Ideal Chemi Plast Pvt. Ltd on April. 27, 2019. The details on the transaction were not disclosed. Ideal Chemi Plast produces and sells acrylic, alkyd, polyester and other resins for use in, among others, automotive refinish, coil and wood coatings. Ideal Chemi Plast also … Read more
Clariant today announced that it will be collaborating with its engineering partner, Wuxi Xiyuan, in two new projects to supply their joint formaldehyde production technology. The new contracts, awarded by Shandong Yushiju Chemical and Shandong Sunny Wealth New Materials, will grow the number of customers using the partners’ advanced technology to six in a short … Read more