India to consider imposing a 15% “Covid-19” import tax on chemicals to help protect its domestic industry from major exporting nations in East and SE Asia. The domestic industry has been badly affected by a major demand slump as a result of nationwide coronavirus lockdown. The new tax, which would be in effect from 1st May … Read more
A gas leak at LG Polymers India Pvt Ltd polymer plant at Visakhapatnam, India left at least eight dead and about 800 people sick. The incident took place on 7 May at around 02:30 am IST. The gas reportedly started leaking when the workers were preparing to reopen the plant today post lockdown. The gas … Read more
India’s chemical exports rose by 7% to Rs 2.68 lakh crore ($35.2 billion) during April-January period of the last fiscal, and became the top exporting sector in the country for the first time, the government said on Saturday. “Union Minister of Chemicals and Fertilisers D V Sadananda Gowda congratulated the chemicals and petrochemicals industry on becoming the … Read more
ExxonMobil on Wednesday broke ground on its solely funded petrochemical chemical complex in Huizhou, southern China’s Guangdong Province, according to a report by Chinese media Xinhuanet. A special “cloud ceremony” was conducted online with video links connecting the Huizhou Dayawan Petrochemical Industrial Park and locations in Beijing and Dallas due to the COVID-19 pandemic. The … 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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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