SABIC, a global leader in the chemical industry, has announced the start-up of its new polypropylene (PP) compounding line in Genk, Belgium with a virtual inauguration event. The new line is an addition to the company’s existing production capacity for SABIC polypropylene compounds at the Genk site and will use raw materials from SABIC’s PP … Read more
Air Liquide, TotalEnergies and Lotte, are combining forces with other large international companies to sponsor the creation of the world’s largest fund exclusively dedicated to clean hydrogen infrastructure solutions. The fund aims to reach 1.5 billion euros ($1.7 Billion) and has already secured initial commitments of 800 million euros ($928 million). Its objective is to … Read more
INEOS Grangemouth has announced investment of over £1 billion ($1.37 billion) towards reducing greenhouse gas emissions at its site to net zero by 2045, building on the 37% reduction in net CO2 emissions already delivered since acquiring the site in 2005. INEOS has already committed over £500 million ($684.2 million) spend on projects which are … Read more
Azelis SA, a chemical distributor, and its shareholders raised €1.77 billion ($2.1 billion) in the biggest Belgian initial public offering since 2007. The shares priced at €26 ($30.6), at the top end of the initial range, and will start trading on Friday, according to a statement Thursday. The IPO values Azelis at €6.1 billion ($7.2 … Read more
DSM, a Dutch chemical company says it may sell its materials business to focus on supplying high-value nutrition and biotech products. The materials business posted sales in 2020 of $1.9 billion—close to 20% of DSM’s total sales—from products that include specialty nylons, biomaterials, and Dyneema super-strong ultra-high molecular weight polyethylene fiber. DSM says it doesn’t … Read more
Apollo Global Management and Alain de Krassny announced that they have entered into exclusive negotiations for the sale of the Kem One Group to funds managed by affiliates of Apollo. These discussions are taking place through De Krassny GmbH and the Apollo Funds. This proposed sale, for which the two parties signed a put option … Read more
Shell Ventures BV and BlueAlp Holding BV announced a strategic partnership to develop, scale and deploy BlueAlp’s plastic waste to chemical feedstock technology. The technology transforms plastic waste which is tough to recycle into a recycled feedstock (i.e., pyrolysis oil) that can be used to make sustainable chemicals. Shell has taken a 21.25% equity stake … Read more
Kemira announces a significant investment in the production of alkenyl succinic anhydride sizing agent (ASA) in China. ASA is one of the most effective and cost-efficient sizing agents for improving water-resistance in paper and packaging board. This investment into an additional, third production line at the company’s state-of-the-art Nanjing site in the Jiangsu province, will … Read more
INEOS E&P A/S, which is a part of INEOS Energy, has announced that it has completed the previously announced agreement to acquire the subsidiary HESS Denmark ApS. for a total consideration of $150 million, effective January 1st 2021. INEOS acquires 61.5% of the Syd Arne oil field, currently operated by HESS, which complements the 36.8% … Read more
Czech Republic’s Unipetrol, a subsidiary of PKN Orlen announced that it will invest more than CZK30.0 billion ($1.4 billion) over the next decade in projects to decarbonize the company’s operations. Together with its parent company ORLEN, the Group plans to transform from a traditional petroleum-oriented firm into a multi-energy corporation under its development strategy for … Read more
Thailand’s PTT Global Chemical (PTTGC) has agreed to buy German coating resins maker Allnex from buyout group Advent in a 4 billion-euro ($4.75 billion) deal. PTTGC said it agreed a loan agreement with its parent, PTT, an energy major, for up to 73.9 billion baht ($2.27 billion) to fund its investment. The deal values Allnex … Read more
Repsol SA is adding two new units at its petrochemicals complex in Sines, Portugal, which will increase the facility’s polypropylene and linear polyethylene and capacity by 300,000 tonnes per year each. Scheduled to be completed in 2025, the new units will be built at subsidiary Repsol Polímeros SA’s petrochemical complex at the Sines Industrial and … Read more
Axalta Coating Systems announced that it has entered into definitive agreements to acquire U-POL Holdings Limited (U-POL) from Graphite Capital Management LLP and other holders for £428 million (approx. $590 million). Founded in 1948 and based in the United Kingdom, U-POL is a leading manufacturer of repair and refinish products used primarily for automotive refinish … Read more
Versalis and Saipem have signed an agreement to internationally promote PROESA, Versalis’ proprietary technology used to produce sustainable bioethanol and chemicals from lignocellulosic biomass. Versalis and Saipem will provide integrated and technologically advanced solutions for the sustainable production of bioethanol. The technology does not use crops intended for human consumption as a raw material, but … Read more
Kerry Group plc, a global food ingredients company, has agreed to purchase Niacet Corp. from An affiliate of funds advised by SK Capital Partners LP for $1.02 billion (€853 million) on a cash-free, debt-free basis, subject to customary closing adjustments. Niacet is a global market provider in technologies for preservation of bakery and pharma products, … Read more
Umicore and BASF have entered into a non-exclusive patent cross-license agreement covering a broad range of cathode materials and their precursors. The agreement also covers chemistries such as nickel manganese cobalt (NMC), nickel cobalt aluminum (NCA), nickel manganese cobalt aluminum (NMCA) and high manganese (HLM). Cathode materials are critical for the performance, safety and cost … Read more
Eastman Chemical Company announced that it has acquired 3F Feed & Food, a European manufacturer of additives for animal feed and human food. Terms of the transaction were not disclosed. Located in Spain, 3F’s business and assets are expected to strengthen and support continued global growth of Eastman’s animal nutrition business and will become part … Read more
Evonik said it has delivered first batches of the urgently needed lipids for the mRNA-based vaccine to BioNTech months earlier than planned. Specialists at Evonik’s Hanau site had set up the lipid production in just eight weeks, meeting the high-quality requirements for the component. Initially, delivery was scheduled to start in the middle of the … Read more
PPG announced that it has acquired Cetelon Lackfabrik GmbH, a manufacturer of coatings for automotive and light truck wheel applications. Financial details of the transaction were not disclosed. “The strategic acquisition of Cetelon will allow PPG to further build upon its existing coatings product portfolio, liquid and powder coating technologies and color matching capabilities,” said … Read more
Wacker Chemie AG announced that its project funding proposal to the European Union for building a production complex for green hydrogen and renewable methanol at its Burghausen site has reached the next selection stage. The funding application states that WACKER wants to build a 20-megawatt electrolysis plant with Linde GmbH to generate hydrogen from water … Read more