Flex P Films Egypt, a subsidiary of Indian flexible packaging materials company UFLEX, is set to build a new polyester resin manufacturing plant in Egypt with a total investment of $110 million. The new plant, called Flex PET, will have a production capacity of 30,000 tonnes per month and cover an area of 250,000 square … Read more
TotalEnergies SA (Paris, France) has accepted an offer from Pacific Avenue Capital Partners for the acquisition of three product lines (Wingtack, PolyBD, and Dymalink) developed by Cray Valley, its resin production and sales affiliate. The transaction includes four production sites in the United States, the Cray Valley Italy affiliate, and the portfolio of customers. The … Read more
Royal DSM, a global science-based company focused on health and nutrition, has announced the completion of the sale of its Engineering Materials business to Advent International and LANXESS for an enterprise value of €3.85 billion. The sale agreement was first announced on May 31, 2022. Divestment of Materials Businesses The transaction covers all of DSM’s … Read more
Hainan Baling Chemical New Material Co., Ltd., a subsidiary of China Petroleum & Chemical Corporation (Sinopec), has launched production of its styrene-butadiene copolymer (SBC) project in Hainan, China, which will reach an annual production capacity of 170,000 tons. Sinopec now has the largest world’s largest production capacity of SBC plants. Baling New Material and Sinopec … Read more
BASF, a leading chemical company, announced its plan to establish compounding capacities for its certified compostable biopolymer ecovio® in Shanghai, China. The move is aimed at better supporting local customers in Asia and meeting their needs for film applications, including certified compostable shopping and organic waste bags, soil-biodegradable agricultural mulch films, and packaging. Benefits for … Read more
LG Chem Ltd. initiated the construction of a plant for supercritical pyrolysis and aerogel production in Seongmun National Industrial Complex, located 150 kilometers southwest of Seoul. With an investment of 310 billion won ($238.6 million), this new facility will enhance LG Chem’s plastic recycling businesses and enable the production of aerogel insulation material using the … Read more
INEOS Styrolution America LLC and Agilyx ASA are advancing the development of a previously announced 100 tons per day TruStyrenyx™ chemical recycling facility in Channahon, Illinois. The facility aims to recycle post-use plastics to high-value, virgin-equivalent products. TruStyrenyx is a partnership between Agilyx and Technip Energies and provides an all-in-one solution for the chemical recycling … Read more
CHIMEI Chemical Co., Ltd. announced the official start of mass production at its newly-built PS production lines in Zhangzhou on March 10. These production lines, with an annual capacity of 350,000 tons, are expected to be fully operational in the second half of this year. Combined with the PS production capacity of Zhenjiang CHIMEI, they … Read more
LyondellBasell and Mepol Group announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland, consisting of Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o. “This acquisition demonstrates LyondellBasell’s commitment to move the circular economy … Read more
Synthomer plc, a leading specialty chemical company, has completed the sale of its laminates, films, and coated fabrics businesses to Surteco North America, Inc. The sale, which was approved by Synthomer shareholders in January 2023, has now been finalized, following the satisfaction of the conditions precedent as outlined in the circular to Synthomer shareholders published … Read more
Chevron Phillips Chemical Co. LLC (CPChem) and Nexus Circular LLC have entered into a long-term commercial agreement for the supply of circular liquid feedstocks from Nexus’ advanced recycling facility. CPChem has been a customer of Nexus for over two years, receiving consistent bulk shipments of ISCC PLUS certified materials. The new agreement further strengthens the … Read more
Reliance Industries Ltd announced its O2C Business segment results for the third quarter ended Dec 31, 2022. Q3 Results- QoQ The segment’s EBIDTA grew 16.36% to Rs 139.26 billion for the period ended Dec 31, 2022 as against EBIDTA of Rs 119.68 billion for the previous quarter due to weak margins. Net sales decreased 9.4% … Read more
Asian Paints has incorporated a wholly owned subsidiary named, Asian Paints (Polymers) on 11 January 2023. The company has incorporated the new subsidiary for the purpose of setting up a manufacturing facility for Vinyl Acetate Ethylene Emulsion (VAE) and Vinyl Acetate Monomer (VAM) in India. The authorised share capital of the new subsidiary is Rs … Read more
Kanoria Chemicals & Industries Limited has announced that commercial production of the Phenolic Resin Plant at Ankleshwar, Gujarat with 6500 MTPA capacity, will commence from 1st January 2023. It will be able to produce 6500 MTPA of phenolic resin annually at the Ankleshwar, Gujarat plant. In India, the main business of Kanoria Chemicals & Industries … Read more
INEOS and SINOPEC have completed two of the four significant petrochemical deals announced earlier this year. The two deals are: SECCO joint venture. INEOS has acquired 50% of Shanghai SECCO Petrochemical Company Limited. ABS joint venture. INEOS and SINOPEC have also established a 50:50 joint venture for ABS (Acrylonitrile Butadiene Styrene), based on INEOS’ world … Read more
Amcor announced it completed the sale of its three factories in Russia to HS Investments, a Russian-based investor, after receiving all necessary regulatory approvals and cash proceeds, including receipt of closing cash balances. The cash and debt free consideration value is €370 million. This follows Amcor’s previously announced decision to pursue the orderly sale of … Read more
Arkema announced on Thursday that the company will double polyester resins capacity in its Navi Mumbai facility in India. The move reinforces its leadership position in the global powder coatings market and its commitment to developing very low-VOC technologies. Arkema invested in the Navi Mumbai facility in early 2019 to expand geographic coverage of its … Read more
DCW Limited, a leading chemical company in India, plans to double its CPVC (Chlorinated Polyvinyl Chloride) capacity by adding another 10,000 MT capacity. The company also plan to augment the capacity utilisation of its SIOP ( Synthetic Iron Oxide Pigment) plant to 100% with some line balancing Capex to generate an additional 10KT of production … Read more
Meghmani Finechem Limited (MFL), a leading integrated chemical manufacturer in India, will be making a debut in the MSCI India Domestic Small Cap Index. This addition was done as a part of MSCI’s semi-annual quarterly index review for the Asia-Pacific region. The new additions to the indices will be effective from November 30, 2022. Recently, … Read more
Vinyl Chemicals (India) Limited., a vinyl acetate manufacturer announced its results for the second quarter ended Sept 30, 2022. Q2 Results- QoQ The company’s net profit declined 7.9% to Rs 100.5 million for the period ended Sept 30, 2022 as against net profit of Rs 109.2 million for the previous quarter. Net sales increased 4.28% … Read more