Sumitomo Chemical Licenses PE/EVA Production Tech to Kazan Organichesky Sintez

Japan’s Sumitomo Chemical is licensing out its high-pressure production process for low density polyethylene (LDPE) and ethylene vinyl acetate (EVA) to Russian producer Kazan Organichesky Sintez PJSC (KOS), the Japanese firm said. Financial details of the contract and the project’s timeline were not disclosed. KOS is installing a new 100,000 tonne per year PE/EVA facility … Read more

Lonza to Sell Specialty Ingredients Division for $4.7 Billion to Private Equity Firms

Lonza AG has entered into a definitive agreement with Bain Capital and Cinven to acquire Lonza’s Specialty Ingredients business and operations for an enterprise value of CHF 4.2 billion ($4.7 billion). Both Bain Capital and Cinven have strong experience in the industrials sector and an established track record of successful investments in portfolio companies. The … Read more

Rosneft, BP to Cooperate on Carbon Management and Sustainability

Rosneft Oil Company and BP have signed a Strategic Collaboration Agreement focused on supporting carbon management and sustainability activities of both companies. The agreement builds on years of partnership between the two companies and formalises key elements of their collaboration on sustainability and work to identify carbon reduction activities and low carbon opportunities. Based on … Read more

AkzoNobel Enters Bidding Race to Acquire Tikkurila with $1.7 Billion Offer

AkzoNobel competes with U.S. rival PPG Industries on Monday, by making a $1.7 billion counterbid for Finland’s Tikkurila. AkzoNobel proposal includes an offer price of 31.25 euros ($37.8) per outstanding share, valuing Tikkurila at 1.4 billion euros ($1.69 billion), exceeding the 1.2 billion euros ($1.45 billion) offered by PPG two weeks ago. To obtain merger … Read more

Linde to Build World’s Largest Green Hydrogen Plant in Germany

Linde will build, own and operate the world’s largest PEM (Proton Exchange Membrane) electrolyzer plant at the Leuna Chemical Complex in Germany. The new 24-megawatt electrolyzer will produce green hydrogen to supply Linde’s industrial customers through the company’s existing pipeline network. In addition, Linde will distribute liquefied green hydrogen to refueling stations and other industrial … Read more

Jindal Acquires Domo Chemicals’ Nylon Films Business

Jindal Films has signed an agreement for the acquisition of 100% of the shares in Italy-based nylon film specialist DOMO Films Solutions Spa (DFS) from private owned group DOMO Chemicals. DFS is one of the major European producers of nylon films (both biax-oriented BOPA and cast extruded CPA) for flexible packaging in food, pharma, medical … Read more

Evonik Buys Polymers Business from Durect Corporation

Evonik has closed its previously announced acquisition of the Lactel Absorbable Polymers product line from Durect Corporation on December 31, 2020. All Durect employees associated with the Lactel business in Birmingham, Ala., accepted the offer to join Evonik in similar roles, according to Essen, Germany-based Evonik. The deal closed Dec. 31, 2020. Evonik will integrate … Read more

SIBUR, Sinopec Close JV Deal for $10-11 Billion Amur Gas Chemical Complex

SIBUR Holding and China Petroleum & Chemical Corporation (Sinopec) have closed the deal to set up a joint venture (JV) at the Amur Gas Chemical Complex after obtaining all the necessary approvals from the regulators of both countries. SIBUR and Sinopec will hold interest in the JV in the amount of 60% and 40%, respectively. … Read more

Johnson Matthey and thyssenkrupp Renew Partnership for Ammonia Tech

Johnson Matthey (JM), a global leader in sustainable technologies, and thyssenkrupp, a technology provider for world-scale ammonia plants, have signed an agreement to renew their collaboration around ammonia process and catalyst supply. The partnership was founded two decades ago and sees thyssenkrupp exclusively use JM’s world class catalysts for its uhde ammonia process built in … Read more

Solvay to Use Renewable Gas for its Cyclopentanone Unit in Melle, France

Solvay has begun a process of decarbonizing the cyclopentanone unit of its Melle plant in France. Through an agreement with an agricultural cooperative for the next fifteen years, the entire cyclopentanone production already relies solely on biomethane gas, a green source of energy. The cooperative built a facility to convert waste biomass into 18 GWh … Read more

PPG to Acquire Finland’s Paint Producer Tikkurila for $1.35 billion

PPG Industries has entered into a definitive agreement to acquire Finland’s Tikkurila at €25 a share or for about €1.1 billion ($1.35 billion) in cash. The acquisition cost includes assumption of debt and cash, PPG said in a statement on Friday. The transaction is expected to close in the second quarter of 2021. “The combination … Read more

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