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 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 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
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, 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
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, 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
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 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
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
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
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
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 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
Toyo Engineering Corporation has been awarded a contract for a project to construct a polypropylene (PP) plant from Prime Polymer Co., Ltd. As part of the deal, Toyo will carry out the EPC contract on a full turn-key basis that includes engineering, procurement, and construction. Toyo will build the 200,000 metric tons per year capacity … Read more
Ester Industries Ltd has informed that its Board of Directors has approved capital expenditure of Rs 80 crores ($10.8 million) for capacity expansion of certain grades of Speciality Polymer business. The company is planning a capacity addition of 6,000 metric ton per annum thereby taking the overall capacity to 12,000 metric ton per annum. Presently, … Read more
Ester Industries Ltd., a polymers manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit grew 11.04% to Rs 37.62 crores ($5.1 million) for the period ended June 30, 2021 as against net profit of Rs 33.88 crores ($4.6 million) for the previous … Read more
Reliance Industries Limited (RIL), India’s largest private sector company is doubling its PET recycling capacity by setting up a recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh. The move is part of RIL’s commitment to lead the industry on circular economy, enhance its sustainability quotient and bolster the entire polyester and polymer value … Read more
Lummus Technology and Chevron Lummus Global LLC (CLG) announced multiple technology contracts from North Huajin Refining and Petrochemical Co., Ltd. for a grassroots refinery and petrochemical complex in Liaoning Province, China. The complex will include one of the largest vacuum residue desulfurization (VRDS) units in China and one of the largest Novolen polypropylene (PP) plants. … Read more
Supreme Petrochem Ltd., a polystyrene manufacturer based in India announced its results for the first quarter ended June 30, 2021. Q1 Results- QoQ The company’s net profit declined 37% to Rs 146.25 crores ($19.6 million) for the period ended June 30, 2021 as against net profit of Rs 231.7 crores ($31 million) for the previous … Read more