Chemplast Sanmar Limited., an Indian chemicals manufacturer announced its results for the second quarter ended Sept 30, 2022. Q2 Results- QoQ The company’s net profit dropped 5.1% to Rs 385.4 million for the period ended Sept 30, 2022 as against net profit of Rs 405.9 million for the previous quarter. Net sales decreased 15.1% to … Read more
Reliance Industries Ltd announced its O2C Business segment results for the second quarter ended Sept 30, 2022. Q2 Results- QoQ The segment’s EBIDTA dropped 39.8% to Rs 119.68 billion for the period ended Sept 30, 2022 as against EBIDTA of Rs 198.88 billion for the previous quarter due to weak margins. Net sales decreased 1.26% … Read more
LyondellBasell and Shakti Plastic Industries, India’s largest plastic scrap recycler and waste collection company, have signed a Memorandum of Understanding (MoU) to form a joint venture to build and operate a fully-automated, mechanical recycling plant in India. The plant is intended to process rigid packaging post-consumer waste and produce 50,000 tonnes of recycled polyethylene (PE) … Read more
BASF broke ground on its new Polyurethane Application Development Laboratory in Mumbai, India. The new lab will house state-of-the-art applications equipment in an approximately 2,000 sq meter space. To be inaugurated in 2024, the lab will strengthen collaboration with Indian customers from high-growth industries, including consumer appliances, construction, footwear, furniture, and transportation. It will offer … Read more
India’s Reliance Industries Ltd (RIL) is acquiring two local companies for a total consideration of Rs 15.92 billion ($200 million) to expand its polyester business. According to a stock exchange filing on September 9, Reliance’s wholly owned subsidiary Reliance Petroleum Retail Ltd will acquire polyester chip and yarn manufacturers Shubhalakshmi Polyesters (SPL) for Rs 15.2 … Read more
SK Geo Centric Co. announced that it will build an ethylene acrylic acid (EAA) plant in China with a local partner as it aims to expand the eco-friendly and high-value-added packaging material business in Asia. SK Geo Centric, formerly known as SK Global Chemical, said it signed a deal to establish a joint venture with … Read more
INEOS Styrolution, the global leader in styrenics, announced that it has entered into an agreement for the sale of its entire shareholding interest in INEOS Styrolution India to Shiva Performance Materials. Shiva Performance Materials Private Limited is part of the Shiva Group, which has businesses in specialty chemicals for pharmaceuticals, agrochemicals and other intermediates. Upon … Read more
SRF Limited., a chemical manufacturer based in India announced its results for the first quarter ended June 30, 2022. Q1 Results- QoQ The company reported 0.4% growth in net profit of Rs 6.08 billion for the period ended June 30, 2022 as against net profit of Rs 6.05 billion for the previous quarter. Net sales … Read more
Numaligarh Refinery Ltd (NRL) in Golaghat, Assam, India, has selected Lummus Technology’s Novolen for a new 360 KTA polypropylene (PP) unit. Lummus, a global provider of process technologies and value-driven energy solutions, will provide the technology licence, basic design engineering, training, technical services and catalyst supply. “We are honoured to continue supporting NRL’s business and … Read more
Meghmani Finechem Limited (MFL) announced its successful commissioning of Chlorinated Polyvinyl Chloride Resin (CPVC Resin) Plant at Dahej in Gujarat. The newly-commissioned facility with a production capacity of 30,000 tonnes per annum (TPA) is the largest of its kind in India. Despite a challenging external environment, the plant has been commissioned on time and without … Read more
BASF India Ltd., completed the installation and start-up of a state-of-the-art acrylic dispersions production line in Dahej, India, serving the coatings, construction, adhesives, and paper industries for the South Asian markets. BASF began production of polymer dispersions in Dahej, India in October 2014, and this additional production line will almost double its capacity. BASF is … Read more
Repsol has signed a technology license agreement that would allow the company to construct an ultra-high molecular weight polyethylene (UHMWPE) plant. The plant would be located in Repsol’s Industrial Complex in Puertollano (Spain) and would have an annual production capacity of at least 15 kt. The agreement boosts up Repsol’s ambition to become a future … Read more
Covation Biomaterials, a private subsidiary of Huafon Group, was launched Wednesday following the close of the sale from DuPont for about $240 million. The company, which has nearly 200 employees worldwide, will be based at new offices in the Iron Hill Corporate Center in Newark. Biomaterials was a DuPont segment dedicated to discovering and producing … Read more
Bakelite Synthetics is pleased to announce the completion of its previously announced acquisition of Georgia-Pacific’s chemicals business. With this acquisition, and after over 100 years of development through legacy companies as a global phenolics leader, Bakelite Synthetics adds to its strong portfolio of products, brand and customers, as well as building on its growth strategy … Read more
Chemplast Sanmar Ltd., a chemicals manufacturer based in India has reported financial results for the period ended March 31, 2022. Q4 Results The company’s net profit declined by 36.4% to Rs 2.31 billion for the period ended March 31, 2022 as against Rs 3.64 billion for the period ended March 31, 2021. Net sales increased … Read more
SRF Ltd., a chemicals manufacturer based in India has reported financial results for the period ended March 31, 2022. Q4 Results The company’s net profit grew by 59% to Rs 6.05 billion for the period ended March 31, 2022 as against Rs 3.81 billion for the period ended March 31, 2021. Net sales increased by … Read more
Bridgestone, a global leader in tires and sustainable mobility solutions, announced an exclusive partnership with Carbon Capture and Transformation (CCT) company, LanzaTech to address end-of-life tire waste. The two companies will co-develop the first dedicated end-of-life tire recycling process leveraging LanzaTech’s proprietary CCT technology, creating a pathway toward tire material circularity and the decarbonization of … Read more
Röhm is further driving the growth of the company by the additional expansion of capacities for impact-resistant PLEXIGLAS, a branded polymethyl methacrylate (PMMA) in Germany. In January, Röhm announced the expansion of production facilities for PLEXIGLAS molding compounds in Worms (Germany) and Shanghai (China). A new section is currently being added to a plant producing … Read more
Eastman has entered an exclusive negotiation with Port-Jérôme-sur-Seine in Normandy as the preferred location of the molecular recycling facility it plans to build in France. This is an important step toward a significant milestone in the company’s plan to invest up to $1 billion and build the world’s largest material-to-material molecular recycling plant in France … Read more
Indian Oil Corporation Limited (IOCL) has announced plans to build a 60,000 ton per annum (tpa) polybutadiene rubber (PBR) plant at its existing naphtha cracker complex in Panipat. IOCL be investing Rs 14.6 billion ($191 million) in the new facility. The plant will use technology provided by the Goodyear Tire & Rubber Co. The project … Read more