Chroma Color Corporation announced the acquisition of Plastics Color Corporation (PCC), including its two facilities in Asheboro, North Carolina and Calumet City, Illinois. Terms of the transaction were not disclosed. PCC deals in color concentrates, functional additives and custom polymer masterbatch. The company has multiple certifications and accreditations that meet government standards and regulations, including … Read more
Showa Denko announced its plan to close a production site in Meitingen, Germany, for which the company started labor-management consultations. The site is a part of consolidated subsidiaries SDK Carbon Products Germany GmbH & Co. KG and SDK Carbon Germany GmbH. The Meitingen site is currently producing connecting pins for graphite electrodes. Once closed, Showa … Read more
Evonik has successfully closed the acquisition of the US company PeroxyChem for US$640 million after the responsible court in Washington D.C. dismissed the lawsuit filed by the Federal Trade Commission (FTC) to block the acquisition. Christian Kullmann, chairman of Evonik’s executive board said, “In its judgment, the court confirmed our view of the H2O2 and … Read more
Kurita Water Industries Ltd., a Japanese water treatment chemicals manufacturer announced that it has decided to establish a new research and development base in Akishima-shi, Tokyo in April 2022. The construction will begin in May this year. It is planned to be completed in March 2022. Functions of the Kurita Global Technology Center (Nogi-machi, Shimotsuga-gun, … Read more
Foremark Performance Chemicals, a Texas based intermediate chemicals and derivatives manufacturer, announced it has completed an expansion of its triazine manufacturing operations at its La Porte, Texas plant. The capacity increase reflects strong customer demand growth from both higher shale oil and gas production in North America as well as Foremark’s strong value proposition. The … Read more
BASF has expanded its low 1,4-dioxane line as regulators, including those in New York, have continued to target 1,4-dioxane in personal care and household cleaning products due to purported health concerns. BASF Flex solutions’ portfolio includes surfactants such as Texapon N 70 NA FlexGold N/A 5 and Texapon N 70 NA FlexSilve. “Formulating with Flex … Read more
BASF SE announced a single-digit million-euro investment to increase capacity of water-based polyurethane dispersions at its Castellbisbal site in Spain. The expansion will allow BASF to increase its production capacity by 30%. “We want to continue to provide our customers with high-quality polyurethane dispersions and help them grow by ensuring supply reliability. Considering the rising … Read more
Solvay’s new high molecular weight (HMW) hindered amine light stabilizer (HALS) capacity is now online, complementing existing HALS production at the Willow Island, West Virginia, USA, site. The facility was designed with the latest improvements in technology to ensure operator safety, reduce impact on the environment, and improve the quality and consistency of Solvay’s HALS … Read more
BASF has closed the previously announced transaction to divest its ultrafiltration membrane business to DuPont Safety & Construction (DuPont). The divestiture includes the shares of inge GmbH, the business’ headquarters and production site in Greifenberg, Germany, including all employees, its international sales force, and certain intellectual property previously owned by BASF SE. Financial details of … Read more
BASF SE announced that it has entered a deal to sell its construction chemicals business to Lone Star Funds, a global private equity firm for 3.17 billion euros ($3.5 billion). The deal, which has immediate effect upon BASF’s reporting, is expected to close in the third quarter of 2020, according to the statement. The deal … Read more
Specialty chemical company Ecolab Inc. will merge its upstream energy business, Nalco Champion LLC with oilfield services provider Apergy Corp. The combined entity is expected to have pro forma sales of roughly $3.5 billion for the year and adjusted EBITDA of about $615 million, according to a Dec. 19 news release. The deal values Nalco … Read more
PolyOne Corp. announced that it had made a deal with Clariant AG to buy its masterbatches business for $1.45 billion. The deal is set for completion in the third quarter of 2020. The transaction values the Clariant business at $1.56 billion, representing roughly 11.1 times the annual earnings before interest, taxes, depreciation and amortization (EBITDA). … Read more
Hitachi Ltd said on Wednesday it would sell its listed chemicals business to electronic materials maker Showa Denko as the Japanese industrial conglomerate overhauls its business portfolio. Hitachi will sell its 51% stake in Hitachi Chemical for 494 billion yen ($4.51 billion) to Showa Denko. Hitachi Chemical is a supplier of materials for semiconductors, displays … Read more
Ferro Corporation announced it has entered into a definitive agreement to sell its Tile Coatings Business to Pigments Spain, S.L., a company of the Esmalglass-Itaca-Fritta group, which is a portfolio company of Lone Star Funds. The deal was for $460 million in cash, with the potential for an additional $32 million in cash based on … Read more
LG Chem will be backed by South Korea’s state lenders with $5 billion in policy loans to finance its expansion in secondary battery factories across the world over the next five years as a part of the government push to promote battery business. LG Chem signed an agreement with Korea Development Bank, Export-Import Bank of … Read more
Posco Chemical Co., a unit of South Korean steel giant Posco, will invest 125.4 billion won ($107.7 million) to ramp up annual production capacity of lithium-ion secondary battery anode materials to 66,000 tons to promptly respond to burgeoning demand from the electric vehicle market. The company said Monday that its board of directors approved its … Read more
The Saudi Arabian General Investment Authority (SAGIA), Shell Overseas Services Ltd. (Shell) and Advanced Metallurgical Group N.V. (AMG) signed a memorandum of understanding (MOU) to evaluate the potential for construction and operation, subject to regulatory approvals, of a spent catalyst recycling facility in Jubail Industrial City, Saudi Arabia. The signing took place in Riyadh, Saudi … Read more
Glenwood PE, a local private equity fund from S. Korea was selected the preferred bidder on Thursday to acquire a controlling stake in SKC Kolon PI Inc., a joint venture between South Korea’s SKC Co. and Kolon Industries Inc. that makes polyimide (PI) film. SKC and Kolon Industries said they’ve selected Glenwood PE as the … Read more
Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, announced that it has reached agreement with the shareholders of specialty dairy solutions provider Koninklijke CSK Food Enrichment C.V. for the acquisition of a 100% interest in the company for a cash consideration of about €150 million ($166 million). Subject to customary conditions, … Read more
Celanese Corporation, a global chemical and specialty materials company, and Beijing Oriental Yuhong Waterproof Technology Co., Ltd., announced they have signed a comprehensive strategic cooperation and development agreement. The agreement aims to further expand cooperation in product research and development, expansion into emerging markets, and the advancement of industry, safety and environmental protection practices and … Read more