Chemicals & Converting

PPG to acquire US coating services firm

July 21, 2017

PPG Industries has agreed to acquire The Crown Group (Warren, Michigan), a maker of component and product finishers in North America. Terms of the transaction, which is expected close during the third quarter, have not been disclosed. Crown has sales of $125–$150 million/year, according to..

Activist shareholders raise stake in Clariant to more than 10%

July 20, 2017

Keith Meister’s activist hedge fund Corvex Management and 40 North, the investment firm run by David Winter and David Millstone, through a company called White Tale Holdings, has raised its stake in Clariant, the company announced today. “White Tale Holdings now hold a stake in..

Dow AgroSciences CEO appointed to head ag equipment firm

July 19, 2017

Dow AgroSciences president and CEO Timothy Hassinger has been appointed to the same roles at agricultural equipment firm Linsday Corporation (Lindsay, Nebraska), effective 16 October. Hassinger will succeed Rick Parod, who is retiring later this year after 17 years. Hassinger has held various senior leadership..

Axalta Coatings to acquire European and Chinese Operations of IVA

July 19, 2017

Axalta Coating Systems, a leading global supplier of liquid and powder coatings, announced today that it has made a binding offer to acquire the European and Chinese operations of IVA, one of the world’s leading wire enamel manufacturers, from its parent company Superior Essex. IVA,..

AkzoNobel CEO Ton Büchner steps down

July 19, 2017

AkzoNobel announced today that CEO Ton Büchner has stepped down with immediate effect because of health reasons. The company has named Thierry Vanlancker as his successor. Büchner joined AkzoNobel in 2012 and has been responsible for significantly improving the performance of the company, increasing profitability..

DSM and Amyris ink development deal

July 18, 2017

Industrial bioscience firm Amyris (Emeryville, California) announced on Monday that it has entered into its first product development and production agreement with DSM. The agreement covers an undisclosed food and nutrition molecule for which DSM is a major market provider. DSM will fund technology development,..

Adnoc and Borealis sign agreement to expand Borouge JV

July 17, 2017

The Abu Dhabi National Oil Co. (Adnoc) and Borealis on Sunday agreed to advance two major projects to expand their Borouge petrochemicals joint venture. First revealed in CW in November, the project involves the construction of Borouge 4 at Ruwais, Abu Dhabi, and forms part..

UK authority seeks to change rules to lure Aramco to list in London

July 17, 2017

The Financial Conduct Authority, the UK securities regulator, is developing a plan that would make it easier for state-owned companies to list on the London Stock Exchange, it said on Thursday. The move is designed to lure Saudi Aramco to list on the London Stock..

Dow announces executive leadership changes

July 14, 2017

The Dow Chemical Company has announced several changes in key executive leadership roles. Pedro Suarez, currently Dow’s North American geographical president, has been named chief commercial officer and will take over these responsibilities from Joe Harlan, who has elected to retire from the Company at..

Kidman in deal with lithium giant SQM

July 13, 2017

Lithium hopeful Kidman Resources has struck a $US110 million deal with lithium giant Sociedad Quimica y Minera de Chile, in a deal that sells down 50 per cent of the Mt Holland lithium project in Western Australia to world’s biggest lithium producer, funds a mine..