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

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

Sibur begins Construction of Amur Gas Chemical Project

Sibur has begun the construction of the Amur Gas Chemical Complex project, a facility set to become one of the world’s largest and most advanced basic polymer producers, the company said. The Amur GCC project envisages construction of a basic polymer production facility with a total capacity of 2.7 million metric tons per year of … Read more Sibur begins Construction of Amur Gas Chemical Project

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

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

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

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 Indorama Acquires PET Recycling Facility in Poland

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 Partners Group to Acquire Agri-Solutions Firm Rovensa from Bridgepoint

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

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

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 Clariant Collaborates with Ineratec to Develop Renewable Fuels, Chemicals

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 BASF India Ltd Approves Acquisition of BASF Performance Polyamides

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

INEOS to Acquire BP’s Global Aromatics and Acetyls Business

BP’s Aromatics and Acetyls business consists of 15 sites across the world (5 in the Americas, 2 in Europe and 8 in Asia) as well as 10 leading joint ventures. INEOS announced its intention to purchase the global Aromatics and Acetyls businesses of BP for a consideration of $5 billion. Aromatics provide the building blocks … Read more INEOS to Acquire BP’s Global Aromatics and Acetyls Business

Mitsui Chemicals Commissions New PP Compounding Plant in the Netherlands

Mitsui Prime Advanced Compounds Europe, a joint venture between Mitsui Chemicals (75%), Mitsui & Co. (15%) and Prime Polymer Co. (10%), has commissioned its first polypropylene (PP) compounding plant in Europe. Located within Chemelot Industrial Park in the Netherlands, Advanced Compounds Europe marks Mitsui Chemicals Group’s first polypropylene (PP) compounding site in Europe. The facility … Read more Mitsui Chemicals Commissions New PP Compounding Plant in the Netherlands

Saint-Gobain Completes Sale of Sika Stake for $1.69 Billion

Saint-Gobain announced the completion of sale of its stake in Sika held by its subsidiary Schenker-Winkler Holding AG, netting it 1.54 billion euros ($1.69 billion). Saint-Gobain acquired its 10.75% stake in Sika as part of a global agreement with Sika and the Burkard family in May 2018. The Sika shares were held as an equity … Read more Saint-Gobain Completes Sale of Sika Stake for $1.69 Billion

INEOS Collabarates with Plastic Energy on New Plastics Recycling Facility

INEOS and Plastic Energy have agreed to collaborate in constructing a new plant to convert waste plastic into raw material to make new plastic. The new facility would be operational by the end of 2023. Plastic Energy’s proprietary Thermal Anaerobic Conversion (TAC) technology turns previously unrecyclable plastic waste into TACOIL. The resulting material is then … Read more INEOS Collabarates with Plastic Energy on New Plastics Recycling Facility

Borealis Declares Force Majeure for Swedish Steam Cracker, Acquires Complete Ownership in Novealis

Borealis last week issued a force majeure declaration for its Stenungsund steam cracker in Sweden. A spokesperson from the company said that on 8th of April the company declared force majeure for its cracker operations in Stenungsund due to a “technical incident”. The cracker in Stenungsund can produce 625,000 metric tons of ethylene per annum. … Read more Borealis Declares Force Majeure for Swedish Steam Cracker, Acquires Complete Ownership in Novealis

Solvay Withdraws its Full-Year Guidance, Reduces Capex in view of COVID-19 Impact

Solvay announced that it is withdrawing its full year 2020 guidance issued in February due to heightened uncertainty and prolonged duration of events caused by the COVID-19 global pandemic. The company has reduced its capital expenditure plans for the year by over €250 million ($273 million). “During these challenging times, we are mobilized and we … Read more Solvay Withdraws its Full-Year Guidance, Reduces Capex in view of COVID-19 Impact

Sumitomo Chemical Invests in Conagen, Completes Acquisition of Subsidiaries of Nufarm

Sumitomo Chemical announced on 2nd April that it invested $30 million in Conagen, a U.S. biotechnology company. The company has conducted joint research with Conagen since 2018 on the biosynthesis of existing chemicals. The fresh investment will further promote its strategic business alliance with Conagen and develop innovative high functional products and processes by way … Read more Sumitomo Chemical Invests in Conagen, Completes Acquisition of Subsidiaries of Nufarm