Chemicals & Converting

PPG to sell rest of it fiberglass operations

May 26, 2017

PPG Industries Inc. announced Friday a deal to sell its remaining fiberglass operations to Nippon Electric Glass Ltd. 5214, -1.31% and expects proceeds of $545 million. The paints, coatings and materials company said the deal is expected to close in the second half of 2017…

Loeb sees $20 billion more value from Dow-DuPont merger

May 25, 2017

Activist investor Daniel Loeb’s Third Point LLC said Dow Chemical and DuPont could unlock $20 billion in additional value by tweaking their plan to split into three companies following their merger. Dow and DuPont plan to split into agriculture, specialty chemicals and materials companies after..

Linde, Praxair reach agreement on details of merger

May 25, 2017

German industrial gases group Linde and U.S. peer Praxair have reached a deal in principle on details of their proposed $70 billion merger, Linde said on Wednesday. The all-share merger of equals, intended to create a market leader that will overtake France’s Air Liquide, had..

Covestro plans for succession of CEO

May 24, 2017

CEO Patrick Thomas has confirmed to the Supervisory Board of Covestro that he will complete his contract as expected on September 30, 2018. The Supervisory Board has therefore decided on the succession of Patrick Thomas as Chairman of the Board of Management in today’s meeting…

Evonik implements leadership change

May 24, 2017

Klaus Engel, long-standing chief executive officer of Evonik, handed over to Christian Kullmann at the end of the annual shareholders’ meeting. In Essen’s Grugahalle Engel bid farewell to the shareholders. Werner Müller, chairman of the supervisory board, thanked Engel for his great service. „You successfully..

Finesse Medical acquired by US-based Avery Dennison

May 23, 2017

Longford-based manufacturing company Finesse Medical has been acquired by the New York-listed Avery Dennison Corporation in a multimillion-euro deal. Set up in 2004, Finesse produces products for woundcare and skin treatment, including skin barrier films and protection creams, and silicone and polyurethane foam wound dressings…

Axalta to acquire the Spencer Coatings Group

May 23, 2017

Axalta Coating Systems, a leading global supplier of liquid and powder coatings, announced today that it has entered an agreement to acquire the Spencer Coatings Group, a leading manufacturer of high performance industrial coatings for heavy-duty equipment, general industrial, oil and gas, and glass coatings..

Huntsman and Clariant seal $14 billion merger

May 22, 2017

U.S.-based Huntsman Corp and Swiss Clariant AG are combining to create a chemical manufacturer with a market value of over than $14 billion, the deal coming together after years of tentative mutual approaches. The HuntsmanClariant specialty chemicals company will be 52 percent owned by Clariant..

Paul Schuler succeeds Jan Jenisch as Sika CEO Per July 1

May 22, 2017

Sika has appointed Paul Schuler, currently Regional Manager Europe Middle East Africa (EMEA), as Chief Executive Officer as of July 1, 2017. He succeeds Jan Jenisch who has accepted to become the new CEO at LafargeHolcim. Paul Schuler has been with Sika for 29 years..

APIC 2017: A new golden age for chemicals manufacturing and innovation

May 19, 2017

The chemical industry continues to grow at rates higher than general economic growth and the outlook remains positive, said Neil Chapman, president, ExxonMobil Chemical in his wide-ranging keynote address to the Asia Petrochemical Industry Conference (APIC) in Sapporo, Japan today. “I believe that we are..