Solvay to Sell Barium, Strontium, Sodium Percarbonate Businesses to PE Firm

Solvay announced that it has reached an agreement with private equity firm Latour Capital to sell its technical-grade barium and strontium business in Germany, Spain and Mexico as well as its sodium percarbonate business in Germany. Solvay’s barium and strontium business includes a joint venture with Chemical Products Corporation (CPC), which is part of the … Read more

Croda to Acquire Iberchem for $973 Million

Croda International Plc agreed to buy Iberchem for 820 million euros ($973 million) as Europe’s largest cosmetic-ingredients maker expands into highly competitive fragrances market. Croda said on Wednesday it plans to raise 600 million pounds ($798 million) in equity to help pay for the purchase of the asset from private equity firm Eurazeo SE. Iberchem … Read more

Elementis Rejects Minerals Technologies All-cash $819 Million Offer

Elementis PLC, a British speciality chemicals company has rejected Minerals Technologies Inc’s all-cash buyout offer as the valuation for the company of $819 million was too low. The offer would represent a premium of 31% to Elementis’s closing price of 81.70 on November 4, the day before the approach.  With 580.8 million shares in issue, … Read more

INEOS Launches a New Clean Hydrogen Business in Europe

INEOS has launched a new business to develop and build clean hydrogen capacity across Europe, in support of the drive towards a zero-carbon future. INEOS currently produces 300,000 ton per year of hydrogen mainly as a co-product from its chemical manufacturing operations. Through its subsidiary INOVYN, INEOS is Europe’s largest existing operator of electrolysis, the … Read more

LG Chem Partners with Neste of Finland for Production of Eco-Friendly Resins

LG Chem has signed a strategic partnership with Neste, a leading biodiesel producer based in Finland, to accelerate the production of eco-friendly resins from biomaterials. Neste is a leading company in the biodiesel field with its own proprietary process technology. 80% of this global company’s operating profit is generated from biofuels and eco-friendly products. Through … Read more

Mitsui Chemicals Acquires Hydrophobic, Anti-Reflective Coatings Maker

Mitsui Chemicals, Inc. announced that group company SDC Technologies, Inc. has acquired COTEC GmbH. Engaged in the manufacture, sale and research of hydrophobic and anti-reflective coatings, COTEC became a wholly owned subsidiary of SDC on October 1, 2020. The Mitsui Chemicals Group’s Vision Care Materials Division boasts a diverse product range. Its ophthalmic lens materials … Read more

OQ Chemicals Expands Oberhausen Facility in Germany

OQ Chemicals (formerly Oxea), a German Oxo Intermediates and Oxo Derivatives manufacturer has increased global production capacity of isononanoic acid by 30% with the completion of the expansion project at its Oberhausen facility. As announced earlier by the company, the increase of isononanoic acid production is said to be part of the carboxylic acid expansion … Read more

Johnson Matthey, KBR Sign Strategic Alliance for Ammonia-Methanol Coproduction Process

Johnson Matthey (JM), (London, UK), a leader in sustainable technologies, and KBR, (Houston, USA) announced that they have signed a global strategic alliance agreement to license a ground-breaking ammonia-methanol coproduction process that combines the company’s market leading ammonia and methanol process technologies. Under the collaboration the JM and KBR coproduction process makes the most of … Read more

Lukoil Selects Lummus Novolen Technology for its New PP Plant in Russia

Lummus Technology announced that its Novolen business has been awarded a contract by Lukoil NNOS for a petrochemical facility in Kstovo, Russia. Lummus’ scope includes the technology license for a polypropylene unit, as well as basic design engi-neering, training and services, and catalyst supply. The plant’s capacity is 500,000 metric tons per year. “This award … Read more

Lanxess Exits Organic Leather Chemicals Business with Sale of its Unit to TFL

Lanxess, a specialty chemicals company is selling its organic leather chemicals business to TFL Ledertechnik GmbH. TFL is a global supplier of leather chemicals and a portfolio company of US investment company Black Diamond Capital Management, L.L.C. Both companies signed an agreement to this effect on August 12, 2020. The purchase price comprises a fixed … Read more

Johnson Matthey to receive $150M Funding from European Development Banks for Battery Materials Project in Poland

Johnson Matthey, a global chemicals and sustainable technologies group receives funding for a new battery materials plant in central Poland from two leading development banks. The joint financing comprises a €90 million ($105.56 million) loan from the European Bank for Reconstruction and Development and a €45 million ($52.78million) loan from KfW IPEX-Bank. Johnson Matthey will … Read more

Sibur may Draw Money from Russian Wealth Fund to Build Amur Gas Complex

Sibur, Russia’s largest petrochemicals producer may use money from the country’s National Wealth Fund to help finance the construction of its planned Amur Gas Chemical Complex, as per Reuter’s report. After increasing the scale of the gas chemical complex in Russia’s Far East, Sibur expects to invest $10-$11 billion, a rise from initial estimates of … Read more

Indorama Acquires PET Recycling Facility in Poland

Indorama Ventures Ltd. (IVL) announced that it has, through its indirect subsidiary Indorama Netherlands B.V., signed a Conditional Share Purchase Agreement with O.R.V. Ovattificio Resinatura Valpadana S.P.A. and OPOKA LTD., to acquire a 100% equity stake of Industrie Maurizio Peruzzo Polowat spółka z ograniczoną odpowiedzialnością (IMP Polowat), a limited-liability company incorporated under the laws of … Read more

Partners Group to Acquire Agri-Solutions Firm Rovensa from Bridgepoint

Partners Group, an investment manager, has on behalf of its clients agreed to acquire a major equity stake in Rovensa, a leading provider of specialty agrochemicals, from Bridgepoint, a major international private equity group. The transaction values the Company at an enterprise value of around EUR 1 billion (USD 1.17 billion). Following the investment, Partners … Read more

Air Liquide to Invest $114M in NLMK’s Site in Russia

Air Liquide, a French industrial gas producer entered a new long-term partnership with Russian steel producer NLMK to construct a state-of-the-art air separation unit (ASU).  Under the agreement, Air Liquide will make an investment of nearly €100 million ($114 million) in NLMK’s flagship site in Lipetsk, Russia.  In addition, it will build an air separation … Read more

European Commission Fines Ethylene Cartel Orbia, Clariant, Celanese $296 Million

The European Commission has fined Orbia, Clariant and Celanese a total of € 260 million ($296 million) for breaching EU antitrust rules. Westlake was not fined as it revealed the cartel to the Commission. The companies took part in a cartel concerning purchases on the ethylene merchant market. They colluded to buy ethylene for the … Read more

Clariant Collaborates with Ineratec to Develop Renewable Fuels, Chemicals

Munich, July 9, 2020 – Clariant has joined forces with Ineratec in the challenge for a greener future. The companies have entered a partnership to develop and commercialize novel technologies for the production of renewable fuels and chemicals. Clariant will provide its extensive catalysis expertise and broad portfolio of syngas conditioning and upgrading catalysts to … Read more

BASF India Ltd Approves Acquisition of BASF Performance Polyamides

BASF India Limited’s Board of Directors have approved the acquisition of 100% stake by the Company in BASF Performance Polyamides from BASF Nederland B.V. and BASF SE. The deal consideration amount is not exceeding Rs 305 crores ($40.6 million), including adjustments, if any, at arm’s length basis, subject to the approval of the shareholders of … Read more

Shell Cuts its Valuation by $22B as COVID-19 Affects all Business Segments

Royal Dutch Shell is writing down the value of its oil and gas assets by up to $22 billion as it adjusts the oil’s historic crash in recent months. Shell updated its mid and long-term price and refining margin forecast in the second quarter of 2020 reflecting the anticipated impact of the COVID-19 pandemic and … Read more