Mitsui & Co., Ltd. has decided, and agreed with Celanese Corporation, a leading American chemical company, to acquire a 70% stake in its wholly owned subsidiary Nutrinova Netherlands B.V., which manufactures and sells functional food ingredients and concluded related agreements. The purchase price for the shares is $472.5 million. Following the acquisition, Nutrinova will become … Read more
Abu Dhabi National Oil Co. (ADNOC) has reportedly made a significant offer exceeding €10 billion ($10.9 billion) to acquire Covestro AG, a leading chemicals giant. The news of the potential takeover caused Covestro’s stock to surge, with shares jumping by double digits. ADNOC, traditionally an oil and gas producer, aims to diversify its portfolio and … Read more
Yara and Cepsa have agreed on a strategic partnership to set up the first clean hydrogen maritime corridor between the ports of Algeciras and Rotterdam for the decarbonization of European industry and maritime transport. The partnership envisages Yara Clean Ammonia (YCA) supplying Cepsa with clean ammonia volumes, which will allow the energy company to get … Read more
Elkem ASA has acquired VUM, a Slovak producer of carbon materials. The transaction will further increase Elkem’s capacity and competence in attractive specialty markets and increase its flexibility in the supply chain. Elkem expects the acquisition to contribute to an additional turnover of around NOK 360 million per year. VUM was founded in 1954 and … Read more
Solvay S.A. (Brussels, Belgium) and Sapio are partnering in the joint development of the Hydrogen Valley Rosignano Project, a large-scale hydrogen production plant with locally-sourced green energy in Rosignano, Italy. Led by two technology leaders in the hydrogen economy, this project will further enable the decarbonization of Solvay’s activities in Rosignano, leading to a 15% … Read more
Azelis, a leading innovation service provider in the specialty chemicals and food ingredients industry, announces that it has signed an agreement to acquire 100% of the shares of Sirius International, a well-established distributor of specialty chemicals in the Benelux market. This acquisition complements Azelis’ lateral value chain in-home care and industrial cleaning with an attractive … Read more
Johnson Matthey (JM), a global leader in sustainable technologies, and Hystar, a Norwegian high-tech hydrogen company, have signed a three-year strategic supply agreement to ramp up renewable (green) hydrogen production. This delivers on JM’s published milestone of winning at least two strategic partnerships in Hydrogen Technologies by the end of 2022/23. JM will supply membrane … Read more
INEOS Inovyn and HyMove have announced their intention to deliver high-purity, low-carbon hydrogen, produced at the INEOS Inovyn site in Tavaux (France), to the transport sector across Eastern France. The project, which is known as ‘ReadHy to Move’ will help decarbonize passenger and freight transport in line with French national emission reduction targets. INEOS Inovyn … Read more
Kemira Oyj announced the closing of the divestment of most of its colorants business to ChromaScape. Kemira signed a definitive agreement to sell its colorants dye business to US-based ChromaScape, LLC in September 2022. The revenue of the business in 2022 was approximately 50 MEUR and 59 employees will be transferred to ChromaScape as part … Read more
Belgian chemicals group Solvay has reported strong financial results for Q1 2023, with higher-than-expected net sales and underlying EBITDA. Although lower volumes impacted the company’s shares, Solvay’s ongoing focus on higher pricing in all segments has helped to offset the negative effects of softer demand across several end markets. Net Sales in Q1 2023 Grew … Read more
Akzo Nobel, a Dutch paints and coatings manufacturer, has reported better-than-expected demand in Europe and China as its first-quarter operating profit exceeded forecasts. The company attributed the positive results to higher prices and the reopening of China’s economy. While the company had raised prices to offset the steep raw material costs last year, it had … Read more
Henkel has signed an agreement on the sale of its business activities in Russia to a consortium of local financial investors. In April 2022, the company announced the decision to exit from Russia. The consortium that acquires the Henkel business activities in Russia includes Augment Investments, Kismet Capital Group, and Elbrus Services. All acquirers have … Read more
Ion Exchange (India) announced on 20 April 2023 that its Board of Directors has approved a proposal to invest in and acquire a Portuguese company named MAPRIL – Produtos Químicos e Maquinas Para a Industria, Lda. The acquisition will be made by purchasing 11,11,500 equity shares, which represents 100% of the issued and paid-up equity … Read more
Linde announced it has signed an agreement with Heidelberg Materials, one of the world’s largest building materials companies, to jointly build, own and operate a large-scale carbon capture and liquefaction facility. Carbon dioxide (CO₂) is a by-product of cement production and is estimated to be responsible for around 7% of global carbon emissions1. Through the … Read more
German specialty chemicals company, Evonik, has signed an agreement to sell its Lülsdorf site and associated cyanuric chloride business in Wesseling, Germany, to Luxembourg-based International Chemical Investors Group (ICIG). The purchase price has not been disclosed. The transfer of ownership is set to take place in mid-2023, pending antitrust clearance and approval from Evonik committees. … Read more
ADNOC announced that it will explore opportunities to support the climate-neutral transformation of industry through the creation of a low-carbon ammonia value chain with state government and industry representatives in Germany’s North Rhine-Westphalia. The announcement was made following the signing of a memorandum of understanding (MoU) between the Government of North Rhine-Westphalia, ADNOC and Currenta … Read more
International private equity firm, Cinven, announced that it has signed an agreement with Sika AG to acquire MBCC Group’s Admixtures business. MBCC Admixtures is a leading global manufacturer of concrete admixtures, as well as other sustainable solutions for the construction industry. The business provides value-added technology and chemistry expertise to improve the performance of construction … Read more
Air Liquide, a leading provider of industrial gases, has announced its plans to construct an industrial-scale ammonia cracking pilot plant in the port of Antwerp, Belgium. This project is part of the company’s commitment to investing in the low-carbon hydrogen value chain to support the energy transition. Converting Ammonia to Hydrogen with Optimized Carbon Footprint … Read more
LyondellBasell and Mepol Group announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland, consisting of Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o. “This acquisition demonstrates LyondellBasell’s commitment to move the circular economy … Read more
BASF announced its investment in a new citral plant as part of its Verbund site in Zhanjiang, China, and menthol and linalool downstream plants at its Verbund site in Ludwigshafen, Germany. These plants are expected to come on stream from 2026 onwards. The investment is driven by growing demand from the global flavor and fragrance … Read more