SK IE Technology Co., (SK IET), a material business arm of SK Innovation Co. is implementing nearly $1 billion capex to add two additional EV-focused battery separator plants in Poland to boast unrivaled economies of scale before it goes public later this year. SK Innovation said on Sunday that it is investing total 1.13 trillion … Read more
BASF, the German chemicals producer, pledged on Friday to spend up to €4 billion ($4.7 billion) significantly raising its medium-term 2030 target for reductions in greenhouse gas emissions. BASF wants to reduce its greenhouse gas emissions worldwide by 25% compared with 2018 – and to achieve this despite targeted growth and the construction of a … Read more
Plastic Energy is collaborating with ExxonMobil Corp. on an advanced recycling project in France that will convert post-consumer plastic waste into raw materials for the manufacturing of virgin-quality polymers. Based on current plans, the project is expected to be one of the largest advanced recycling plants in Europe, with an initial capacity of 25,000 tons … Read more
Air Liquide has announced a number of objectives in line with its growth trajectory, including firm targets to reduce its absolute CO2 emissions by 2025 and invest €8.0 billion ($9.5 billion) in the hydrogen supply chain to ACT for a Sustainable future. The company is aiming to accelerate its hydrogen developments to at least triple its … Read more
AQM Capital LLC (Aquamarine) is developing a large-scale green hydrogen and ammonia facility to be constructed in multiple stages in northern Germany. In the first stage of the project, the proposed facility will use Haldor Topsoe A/S’s proprietary solid oxide electrolyzer cells (SOEC) to produce green hydrogen from 100 MW of renewable electricity. The H2 … Read more
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 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 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 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 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 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 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 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 (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 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 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 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 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 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 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