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, 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 (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 (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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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