Avient Corporation, a leading provider of specialized and sustainable material solutions, announced that it has entered into an agreement with Royal DSM to purchase the DSM Protective Materials business. The purchase price of $1.485 billion is subject to certain customary adjustments. In conjunction with this proposed acquisition, Avient has also announced that it plans to … Read more
Altamira MS Holdings, a portfolio company of Edgewater Capital Partners, announced that it is continuing its investment in building a leading engineered components platform and has acquired Precision Fluorocarbon, LLC (PFI). PFI is a manufacturer of highly engineered, mission-critical PTFE components, such as custom diaphragms, bellows, and machined components, utilized primarily in semiconductor and industrial … Read more
GranBio Technologies and Birla Carbon have been awarded $730,000 in funding from P3Nano and USFS to advance scale-up and commercial introduction of the Nanocellulose Dispersion Composite (NDC) rubber masterbatch for the tire and rubber goods markets. P3Nano is a public private partnership between the U.S. Endowment for Forestry & Communities and the USDA Forest Service … Read more
PQ Group Holdings Inc. announced that it has entered into a definitive agreement to sell its Performance Chemicals business to a partnership established by Cerberus Capital Management, L.P. and Koch Minerals & Trading LLC for a purchase price of $1.1 billion. PQ’s Performance Chemicals business includes sodium silicate and silica derivatives. “We are excited by … Read more
Solvay announced that the company has been awarded a new long-term enterprise agreement for composites and adhesives by Boeing. Solvay provides material solutions across all commercial and defense programs at Boeing for applications including primary and secondary structures, interiors and surfacing. Solvay supplies Boeing with a large portfolio of advanced materials including thermoset and thermoplastic … Read more
Atul Ltd. has announced increase in net profit for its fourth quarter and full-year ended 31 March on good margins in Performance and Other Chemical segment. The company’s fourth quarter net profit increased 26.6% to Rs 1.4 billion ($18.9 million) from Rs 1.1 billion ($14.9 million) in the prior year quarter. Revenue in the … Read more
The Chemours Company, a global performance chemicals manufacturer reported a fall in revenue for the fourth quarter 2019. Chemours fourth quarter 2019 net sales were $1.35 billion, a 7.6% fall from prior-year quarter. The company reported a loss of $317 million in the fourth quarter of 2019 against a profit of $142 million a year … Read more
DOMO Chemicals, a leading producer of engineering materials announced that the company has completed its acquisition of Solvay’s Performance Polyamides Business in Europe. The acquired business includes Engineering Plastics operations in France and Poland; High Performance Fibers in France; Polymer and Intermediates operations in France, Spain and Poland. The agreement also involves a joint venture … Read more
Ashland Global Holdings Inc. announced on Tuesday, 3rd September that it has completed the previously announced sale of its Composites business (excluding the Maleic business) and butanediol manufacturing facility in Marl, Germany to INEOS Enterprises in a transaction valued at $1.015 billion. Net proceeds from the sale are approximately $930 million. Over $400 million of … Read more
DOMO Chemicals and Solvay have signed an agreement for DOMO to acquire Solvay’s Performance Polyamides Business in Europe. This includes Engineering Plastics operations in France and Poland; High-Performance Fibers in France; Polymer and Intermediates operations in France, Spain and Poland. The agreement also involves a joint venture between BASF and DOMO in France for the … Read more
Synthomer Plc said on Wednesday it has agreed to buy Omnova Solutions Inc for an enterprise value of $824 million in a bid to strengthen its global position. London-based Synthomer is offering Beachwood, Ohio-headquartered Omnova $10.15 for each share, a premium of 58% to Omnova’s closing price on Tuesday. Completion is subject to closing conditions, … Read more
SK Chemicals Inc., a chemical unit of SK Group, said that it has decided to acquire KCF Technologies Co., the world’s top producer of copper foil for lithium-ion batteries, in a bid to diversify its business portfolio. SK Chemicals said it will buy a 100 percent stake in KCF Technologies, currently owned by Kohlberg Kravis … Read more
Covestro, a leading global supplier of high-performance polymer materials, has delivered its first commercial order of polyurethane raw materials for wind blades to China. China is the world’s largest wind power market with 221 GW of installed capacity at the end of 2018, according to the World Wind Energy Association.(1) The blades, produced by Zhuzhou … Read more
BASF Venture Capital is investing in the Longwater Advanced Materials Fund. This private equity fund is managed by Longwater Investment, a pioneer growth capital investor in advanced materials and chemistry-related technologies in China. BASF Venture Capital is one of several Limited Partners; other investors include Xiamen C & D, CICC Genesis and Tsinghua Redbud. The … Read more
Nippon Shokubai and Sanyo Chemical Industries announced on Wednesday that the two companies had reached a Basic Agreement to move ahead with the consideration toward the integration of their businesses based on an equal footing. They will establish a holding company in October 2020 to integrate operations, which will be followed by a full-blown merger … Read more
Chemicals manufacturer SRF Ltd has signed an agreement to sell its engineering plastics business to DSM’s Indian subsidiary DSM Pvt Ltd for $45 million. Subject to the relevant conditions, the deal is expected to close in six months, SRF said in a statement. “This marks a significant milestone for our company, as we take another … Read more
Evonik is repositioning its business within the polyamide group for high-performance polymers. The company has started building of a new polyamide 12 (PA 12) facility and is expanding its production of transparent polyamides at Marl Chemical Park, focusing its activities on high-performance materials for attractive growth markets such as automotive, oil and gas, 3D printing … Read more
Dow Chemical is closing its acrylic emulsions facility in east Charlotte this July. The company said that it made the decision after thorough assessments on sustainability of the operations. The company will decommission the plant on July 31st and will supply the product to its customers from other locations. The Charlotte site produces acrylic emulsions … Read more
INEOS Styrolution announced that it is planning to set up a new production site for its successful composite StyLight. “The establishment of a new production site reflects growing customer demand. Ever since its introduction at the K in Düsseldorf in 2016, StyLight has caught the attention of designers globally in the automotive, electronics and sports … Read more
Evonik announced on Monday that it will expand its production capacity of transparent polyamides at the Marl Chemical Park (Germany) which the company sells under the brand TROGAMID CX. Production expansion is scheduled for completion in the first quarter of 2020. The project will double the specialty chemicals company’s capacity for its transparent, high-performance materials. … Read more