Specialty Chemicals

Arkema Announces 2024 Strategy of Becoming a Specialty Materials Leader

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Arkema unveiled its ambition to become a world leader in Specialty Materials realigned around three businesses: Adhesive Solutions, Advanced Materials, and Coating Solutions at a Strategy Update meeting on April 2. The Group unveiled its roadmap and its objectives for 2024 at this event. The Group has decided to align its organization which will now … Read more Arkema Announces 2024 Strategy of Becoming a Specialty Materials Leader

Hillenbrand to Sell Cimcool Business to DuBois Chemicals

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Hillenbrand, Inc. signed a definitive agreement to sell its Cimcool business to DuBois Chemicals, Inc. (DuBois) for $224 million. Hillenbrand’s wholly-owned subsidiary Milacron LLC (Milacron) entered into an Equity and Asset Purchase Agreement with DuBois, pursuant to which DuBois will acquire the Cimcool business at a purchase price of approximately $224 million in cash, subject … Read more Hillenbrand to Sell Cimcool Business to DuBois Chemicals

Evonik Acquires Biotech Company innovativeHealth Group

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Evonik Industries AG on Thursday said it has acquired Madrid-based biotechnology company innovativeHealth Group. The transaction is due to be completed before the end of March. The financial details of the deal were not disclosed. Headquartered at the Scientific Park of Madrid (Spain), innovativeHealth’s technology platforms screen and combine natural ingredients and extracts to generate … Read more Evonik Acquires Biotech Company innovativeHealth Group

Huntsman to Acquire CVC Thermoset Specialties for $300 Million

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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 Huntsman to Acquire CVC Thermoset Specialties for $300 Million

Nouryon Reports Rise in Earnings on Margin and Cost Control

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Nouryon reported growth in profitability in its full-year 2019 financial results, despite challenging conditions in several end markets. Adjusted EBITDA, backed by margin control and expense controls, rose by 5% to EUR1.13 billion ($1.27 billion). Revenues were marginally higher at EUR5.08 billion ($5.7 billion), as a minor volume decline was more than offset by price … Read more Nouryon Reports Rise in Earnings on Margin and Cost Control

Bartek Ingredients Announces Malic Acid Capacity Expansion

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Bartek Ingredients Inc has announced a 10,000 MT malic acid capacity expansion planned to be completed in Q1 2021. The expansion plan comes in support of Bartek’s goal of continuing to invest ahead of growth in the malic and fumaric acid food-grade markets. This announcement closely follows its recent expansion of 4,000 MT malic acid … Read more Bartek Ingredients Announces Malic Acid Capacity Expansion

Lanxess Earnings to Drop in 2020 Due to Coronavirus Impact

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Lanxess has announced that it expects its core income to decline in 2020 as the global coronavirus epidemic is expected to damage its supply chains. The company forecasts that profit before exceptional items will slash EUR 50-100 million ($56.4-112.8 million) as a result of coronavirus, with EUR20 million ($22.6 million) impact projected for the first … Read more Lanxess Earnings to Drop in 2020 Due to Coronavirus Impact

Symrise Achieves Strong Profit Growth of 12.2%

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Symrise AG reported increase in profit for full-year 2019 on strong organic business growth. Despite higher expenses, Symrise’s EBITDA grew by 12.2 % to EUR707.2 million ($802.6 million) from prior year’s EUR630.5 million ($715.8 million). The company’s sales increased by 8.0% to EUR3,408 million ($3869 million) from prior year’s EUR3,154 million ($3580 million). The company … Read more Symrise Achieves Strong Profit Growth of 12.2%

Firmenich to Acquire Ingredients Supplier DRT from PE Firm

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Firmenich SA, a French flavors & fragrances company announced that it has entered into exclusivity with private equity firm Ardian, Tikehau Capital and family shareholders to acquire ingredients supplier Les Dérivés Résiniques et Terpéniques (“DRT”). DRT is a world leader in plant-based chemistry, mainly from pine trees, and is one of the leading suppliers globally … Read more Firmenich to Acquire Ingredients Supplier DRT from PE Firm

SABIC Increases Its Stake in Clariant to 31.5%

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SABIC (Saudi Basic Industries Corporation) said on Tuesday that it had raised its stake in specialty chemicals maker Clariant. The state-owned company now owns 31.5% in Clariant, up from 24.99% previously, it said in a filing. The increase in stake holding was just short of the one-third ownership that would trigger a mandatory offer for … Read more SABIC Increases Its Stake in Clariant to 31.5%

Toray breaks ground on second plant in Germany

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Toray Industries, Inc. announced that its German subsidiary, Greenerity GmbH, held a groundbreaking ceremony a day earlier for its second plant. Located in industrial area of Alzenau, Bavaria, the plant will develop, manufacture, and sell components for hydrogen fuel cells. The new facility is scheduled to go online in November 2021. The new facility will … Read more Toray breaks ground on second plant in Germany

Arkema’s Net Income, Volumes Decline, Sees Market Uncertainty Impacting Demand

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Arkema reported fall in adjusted net income and sales in 2019 due to a challenging macro environment. In the fourth quarter, sales fell 7% on year to EUR2.05 billion ($2.26 billion). The company’s adjusted net income for the full year came in at EUR625 million ($678.8 million) from EUR725 million ($800.6 million) in 2018. Sales … Read more Arkema’s Net Income, Volumes Decline, Sees Market Uncertainty Impacting Demand

Pidilite Industries Acquires Majority Stake in Tenax’s Indian Subsidiary

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Pidilite Industries, an Indian manufacturer of adhesives, construction chemicals and specialty chemicals on Thursday announced acquiring majority stake in the Indian subsidiary of Italian firm Tenax SPA. Pidilite has entered into a definitive agreement with Tenax SPA for acquiring 70 per cent of the share capital of Tenax India Stone Products for cash consideration of … Read more Pidilite Industries Acquires Majority Stake in Tenax’s Indian Subsidiary

Fairchem Speciality Limited Net Profit Increased 7.6% for Q3, 2019

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India’s Fairchem Speciality Limited reported rise in profit growth in the third quarter 2019 on strong Oleochemicals margins. The company has posted net profit of Rs.7.2 crores ($1 million) for the period ended December 31, 2019, an increase of 7.6% as against Rs.6.69 crores ($0.93 million) for the prior-year quarter. The company has reported net … Read more Fairchem Speciality Limited Net Profit Increased 7.6% for Q3, 2019

Univar Earnings and Revenues Fall Short of Estimates

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Univar Solutions Inc. reported a fall in profit for the fourth quarter and full year of 2019. The results were impacted by reduced demand in global industrial markets. In the fourth quarter, the company reported sales of $2.2 billion, up 9.3% compared to the prior year quarter. The company reported a loss of $55.1 million, … Read more Univar Earnings and Revenues Fall Short of Estimates

Sika Joins Supply Chain Sustainability Initiative TfS

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Sika announced on 25th, Feb that the company has joined the ‘Together for Sustainability’ (TfS) initiative as a new member. The organization, founded in 2011, aims to improve sustainability practice within the supply chain of the chemicals industry. According to Sika, sustainability is a key feature and a central element of its growth strategy. “With … Read more Sika Joins Supply Chain Sustainability Initiative TfS

IOL Chemical Reports Profit in Q3

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India’s IOL Chemical reported profit growth in the third quarter 2019 on strong API sales. The company reported a 20% year on year growth in EBIDTA at Rs 163 crore ($22.7 million) in December quarter. EBIDTA margin grew to 31.65% from 28.39% in the prior-year quarter. The company’s income from operations increased by 8% to … Read more IOL Chemical Reports Profit in Q3

Givaudan Completes Acquisition of Ungerer

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Givaudan, the global leader in fragrances and flavours, announced the completion of the acquisition of Ungerer & Company, the US based Flavour, Fragrance and Specialty Ingredients company. Givaudan had announced that it had reached an agreement to acquire the company in November 2019. Gilles Andrier, Givaudan’s CEO said, “Acquiring Ungerer fits very well with our … Read more Givaudan Completes Acquisition of Ungerer

Azelis Opens New Lubricants Application Lab in Germany

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Azelis, a leading distributor of specialty chemicals and food ingredients, announced the opening of a new Lubricants application laboratory in Hannover, Germany. Based on cooperation with the Gottfried Wilhelm Leibniz University of Hannover, this new Azelis lab is located in the Institute of Machine Construction and Tribology (IMKT). With this lab, the company can offer … Read more Azelis Opens New Lubricants Application Lab in Germany

Albemarle Reports Results, Misses Estimates

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Albemarle Corporation announced its results for the fourth quarter and full year 2019. The company’s net sales in fourth quarter increased 8% to $993 million with an adjusted EBITDA of $295 million increasing 12%. Its full year net sales increased 6% to $3.6 billion with an adjusted EBITDA of $1.04 billion increasing 3%. Net sales … Read more Albemarle Reports Results, Misses Estimates