Advanced Global Investment Company (AGIC), a subsidiary of PP producer Advanced Petrochemical, has agreed to form a joint venture with South Korea’s SK Gas and build a propane dehydrogenation (PDH)/PP complex at Jubail, Saudi Arabia. The JV agreement follows a Memorandum of Understanding (MoU) signed in June, 2019. The new entity, called Advanced Polyolefins, will … Read more Advanced Petrochemical and SK Gas Plan $1.8B PDH/PP Complex
The American Chemistry Council (ACC) urged G20 leaders to lift tariffs and export restrictions to improve access to the products necessary to healthcare workers during the COVID-19 pandemic. American Chemistry Council (ACC) President and CEO, Chris Jahn, in response to the virtual G20 summit, said, “U.S. chemicals manufacturers are calling for G20 leaders to increase … Read more ACC Urges G20 Leaders to Lift Trade Barriers on Products needed for COVID-19
Mitsui Chemicals, Inc. has expanded its production facilities for meltblown nonwovens at its wholly owned subsidiary Sunrex Industry Co., Ltd. The move comes as an attempt to respond to the increasing demand for industrial-use meltblown nonwovens, and will increase the total production capacity of the Mitsui Chemicals Group for these materials by 50%. The expanded … Read more Mitsui Chemicals Expands Production Capacity for Nonwovens at Yokkaichi
Indorama Ventures Limited has announced that the company decided to extend the pre-construction period of the PTA-PET plant in Corpus Christi, Texas through the end of 2020. Christi Polymers LLC (CCP), a joint venture among certain subsidiaries of Indorama Ventures Holding, Alpek and Far Eastern Investment (Holding) Limited was created to acquire and complete construction … Read more Indorama Extends the Completion of Corpus Christi Plant to 2023
Clariant and Floreon-Transforming Packaging Limited announced a new collaboration to further extend the performance properties and market potential of biopolymers. By combining the benefits of Clariant’s additives with Floreon’s proprietary material solutions, the partnership aims to open up additional opportunities for plastic manufacturers and brand owners to consider biopolymers as a viable, low-carbon alternative to … Read more Clariant and Floreon Collaberate to Develop Higher-Performance Biopolymers
Huntsman has signed a $300 million deal to buy CVC Thermoset Specialties, a specialty chemical manufacturer that supplies chemicals for the industrial composites, adhesives and coatings markets. The $300 million purchase price is subject to customary closing conditions. It is an all-cash transaction, funded from available liquidity by Huntsman. Depending on the full year of … Read more Huntsman to Acquire CVC Thermoset Specialties for $300 Million
Domo Chemicals GmbH, a Germany-based materials manufacturer announced its plans to build a nylon compounding plant in Zhejiang, China in a move to increase its focus on the Asia Pacific region. The new plant will be capable of producing 50,000 ton of sustainable and innovative engineered nylon compounds each year, the company said in a … Read more Domo Chemicals to Build Nylon Compounding Plant in China
Mitsubishi Chemical Holdings Corporation (MCHC) has announced the transfer of Life Science Institute Inc’s affiliate, Qualicaps to Mitsubishi Chemical Corporation (MCC), with effect from 1 July. “Through this transfer, MCC will enable Qualicaps to provide higher value-added solutions to the global capsule market by not only strengthening manufacturing technology leveraging mutual resources and accelerating chemical … Read more Mitsubishi Chemical Holdings to Transfer Qualicaps to Mitsubishi Chemical
Kraton Corporation announced that it has completed the sale of its Cariflex business to Daelim Industrial Co, Ltd. for $530.0 million in cash. “We believe Daelim is well-positioned to invest in and grow the Cariflex franchise as it continues to expand its global business,” said Kevin M. Fogarty, Kraton’s President and Chief Executive Officer. “As … Read more Kraton Completes Sale of Cariflex Business to Daelim
Lotte Chemical on March 4 suspended the operation of nine plants following an explosion at its Daesan Complex in Daesan-eup, Seosan County, South Chungcheong Province, Business Korea reported. The accident is expected to have an impact on the ethylene market. Lotte Chemical produces 4.5 million ton per year of ethylene annually at home and abroad. … Read more Lotte Chemical Halts Operations after Explosion at Daesan Complex
Asahi Kasei has decided to discontinue its business for the styrenic resins SAN (Styrene-acrylonitrile resin), ABS (Acrylonitrile butadiene styrene), and ACS. According to the company, the operations of SAN plant at Kawasaki Works will be closed in March 2021. The business to be discontinued began with the 1962 start-up of the SAN plant in Kawasaki, … Read more Asahi Kasei to Discontinue Styrene Resins Business
LyondellBasell, the world’s largest licensor of polyolefin technologies, announced that Hyosung Vina Chemicals Co., Ltd. will use the LyondellBasell Spheripol technology for a new facility. The process technology will be used for a 300,000 ton per year polypropylene plant to be built in Cai Mep Industrial Zone, Vung Tau Province, Vietnam. “This additional award for … Read more Hyosung Vina to Use LyondellBasell’s Spheripol Tech for PP Plant
Lotte Chemical of South Korea shut down its ethylene cracker in Daesan after an explosion that injured at least 31 people. It also announced an indefinite force majeure on supplies. The explosion occurred on March 4, about 3 am South Korea time from a fire at a compressor unit within the naphtha cracker. The fire … Read more Lotte Chemical Shuts Production after Ethylene Cracker Explosion
Reliance Industries announced on 29th Feb that it has acquired a controlling stake in textile manufacturer Alok Industries Ltd for Rs 250 crore ($34.3 million). Alongside JM Financial Asset Rehabilitation Co Ltd, Reliance had a bid to buy Alok Industries which had been auctioned by lenders under the insolvency and bankruptcy law to recover their … Read more Reliance Acquires Stake in Alok Industries
Borealis announces a net profit of EUR 138 million ($151.8 million) for the fourth quarter of 2019, compared to EUR 94 million ($103.4 million) in the same quarter of 2018. While the 2018 result was impacted by a one-off impairment charge of EUR 92 million ($101.2 million), the result in the fourth quarter of 2019 … Read more Borealis Reports Increase in Profit for Q4 2019
Univar Solutions Inc. reported a fall in profit for the fourth quarter and full year of 2019. The results were impacted by reduced demand in global industrial markets. In the fourth quarter, the company reported sales of $2.2 billion, up 9.3% compared to the prior year quarter. The company reported a loss of $55.1 million, … Read more Univar Earnings and Revenues Fall Short of Estimates
Versalis, Eni’s chemical company, has acquired 40% of Finproject, the Italian leader in the compounding sector and the production of ultralight products, from the VEI Capital fund. The move was intended with the aim of creating value by integrating the respective production chains. This strategic operation will create a new industrial platform that leverages the … Read more Versalis Acquires 40% of Finproject to Create an Integrated Supply Chain of Special Polymers
Vinnolit GmbH & Co. KG, a chlor-alkali and vinyls manufacturer announced the completion of expansion work at its paste PVC plant in Burghausen, Germany, and will use microsuspension technology to produce PVC with more flexible properties. “In Burghausen, we are now additionally producing with the microsuspension process, which we have already successfully used at our … Read more Vinnolit Completes Paste PVC Plant Expansion in Germany
Westlake Chemical Corporation saw lower profits in the fourth quarter of 2019, hurt by reduced global sales prices for its major products. The chemical maker posted a profit of $72 million down around 41% from $123 million it earned in the prior-year quarter. Decrease in profit was attributed to lower global sales prices for key … Read more Westlake Earnings and Sales Fall on Weak Pricing
India’s Jindal Poly Films doubled its profit growth in the third quarter on strong packaging films margins. Net profit of Jindal Poly Films rose 120.90% to Rs 120.81 crore ($17 million) in the quarter ended December 2019 as against Rs 54.69 crore ($7.6 million) during the previous quarter ended December 2018. Sales rose 12.13% to … Read more Jindal Poly Films Doubles Profit, Plans Capacity Expansion