India’s DCM Shriram Reports 33.4% Growth in YoY Q2FY21 Net Profit

DCM Shriram Ltd., a chlor-alkali and chloro-vinyl manufacturer based in India announced its results for the second quarter ended September 30, 2021. Q2 Results- QoQThe company’s net profit grew 0.2% to Rs 157.87 crores ($21 million) for the period ended September 30, 2021 as against net profit of Rs 157.5 crores ($21 million) for the … Read more

India’s Bhansali Engineering Polymers Reports Rs 123.6 Cr Net Profit for Q2 FY20-21; Board approves Brownfield ABS Expansion

Bhansali Engineering Polymers Ltd., a polymer and other allied products manufacturer based in India announced its results for the second quarter ended September 30, 2021. Q2 Results- QoQThe company’s net profit grew 59.8% to Rs 123.6 crores ($16.4 million) for the period ended Septem-ber 30, 2021 as against net profit of Rs 77.38 crores ($10.3 … Read more

Arkema to Build a Bio-based Polyamide 11 Plant in China

Arkema has announced the construction of a polyamide 11 powders plant on its Changshu platform in China, scheduled to come on stream in the first quarter of 2023. This investment will further support the growing demand for advanced bio-circular materials in Asia. This plant will be built in parallel with its major project to increase … Read more

SABIC Starts Up PP Compounding Line in Belgium to meet Growing Demand

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

Dow to Build World’s First Net-Zero Carbon Emissions Ethylene and Derivatives Complex

Dow announced its plan to build the world’s first net-zero carbon emissions integrated ethylene cracker and derivatives site with respect to scope 1 and 2 carbon dioxide emissions. The project would more than triple Dow’s ethylene and polyethylene capacity from its Fort Saskatchewan, Alberta site, while retrofitting the site’s existing assets to net-zero carbon emissions. … Read more

India’s Chemplast Sanmar gives Half Yearly Business Update

Chemplast Sanmar Limited CSL), on consolidated basis, expects to register a significant increase in its Revenue for H1FY22, as compared to the same period in the previous financial year. In terms of overall volume, both CSL and its wholly owned subsidiary, Chemplast Cuddalore Vinyls Limited (CCVL), together saw production increase of around 30 – 35% … Read more

Epsilyte Acquires StyroChem to Expand Capacity and Customer Solutions

Epsilyte Holdings LLC, a leading provider of advanced materials has acquired StyroChem Canada, Ltd., a leading North American producer of expandable polystyrene (EPS) located in Baie d’Urfe, Quebec, from PMC Capital Partners, LLC.  Details of the transaction were not announced. Epsilyte is owned by Balmoral Funds and management. This acquisition creates one of the largest … Read more

DL Chem Seals $2.5 Billion Acquisition of US Chemical Maker Kraton

DL Chemical Co., South Korea’s leading petrochemical company, has acquired Texas-based specialty chemical manufacturer Kraton Corp. for $2.5 billion, taking a step closer to its goal of becoming one of the world’s top 20 chemicals companies. DL Chemical, formerly known as Daelim Industrial Co., has signed a definitive agreement to buy 100% of the US-listed company … Read more

India’s CSIR-NCL and Reliance to Recycle PPE Waste

CSIR-National Chemical Laboratory (CSIR-NCL), Pune jointly with Reliance Industries Ltd (RIL) and several other companies from Pune pooled their expertise to manufacture moulded plastic components from COVID-19 PPE waste. The undertaken pilot project has the potential to scale up and replicate throughout the country to convert PPE waste into useful and safe products, claimed the … Read more

Origin Materials Announces New Partnership with Alliance to End Plastic Waste

Origin Materials, Inc., the world’s leading carbon negative materials company, announced it has joined the Alliance to End Plastic Waste, a global non-profit organization. Members of the Alliance include industry leaders across the plastics value chain, working towards a common goal of developing, deploying and scaling solutions to end plastic waste in the environment. As … Read more

Grace Licenses Unipol Technology for GAIL’s PDH/PP Project in India

W. R. Grace & Co., the leading independent supplier of polyolefin catalyst technology and polypropylene (PP) process technology, has licensed its UNIPOL PP process technology to GAIL (India) Ltd. The 500 KTA polypropylene plant, located in Usar, Maharastra, India, will be the first PDH and PP plant in India. It is also the largest single-line … Read more

DSM to Sell Materials Business, to Focus on Nutrition and Biotech Business

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

Alain de Krassny in Talks with Apollo to Sell PVC Producer Kem One

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

DCM Shriram Board Okays Buyout of Axiall’s Stake in Shriram Axiall JV

DCM Shriram receives the board of directors’ approval for acquiring 1,732,500 equity shares of Shriram Axiall (SAPL) from Axiall LLC, which is an entire 50% of the paid-up share capital held by Axiall LLC in the joint venture. Shriram Axiall (SAPL) is a 50:50 joint venture between the company and USA-based Axiall LLC. In its … Read more

India’s Apcotex to Expand Capacity by 70,000 MTPA at Valia Site

Apcotex Industries Limited, one of the leading manufacturers of Synthetic Latex and Rubber in India, is planning to expand capacity at its Valia plant in Gujarat by around 70,000 MTPA. The new project will include an increase in production capacity of Synthetic Rubber (SBR) between 30,000 MTPA to 32000 MTPA to fulfill demand of automobile … Read more

SK Global Chemical Rebranded as SK Geocentric; to Invest $4.3 Billion in Green Businesses

South Korean petrochemical producer SK Global Chemical (SKGC) will rebrand itself as SK Geo Centric (SKGC) as it moves to transform its business portfolio to focus more on eco-friendly products such as recyclable plastics. Under its initial action plan, the company will inject about 5 trillion won (~$4.3 billion) to roll out more eco-friendly materials … Read more

India’s Nayara Energy achieves Financial Closure of $541-Million Loan for PP Project

Nayara Energy, a downstream energy company of international scale announced that it has achieved financial closure for phase one of its expansion plans into petrochemicals. The company signed a financial agreement with a consortium of banks led by State Bank of India for a project term loan of Rs 4,016 crore ($541.7 million). The company … Read more

ORLEN Unipetrol to Invest CZK 30bn into Green Projects, Unveils Development Strategy Until 2030

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

LG Chem Invests $2.2 Billion on Eco-friendly Materials Business

LG Chem is investing 2.6 trillion Won (~$2.2 billion) over the next eight years to build 10 new plants that will produce eco-friendly materials at its Daesan petrochemical complex in Chungnam province. The investment will include plants that will produce 50,000 tonnes per year of polybutylene adipate-co-terephthalate (PBAT) and 100,000 tonnes per year of polyolefin … Read more