Chemicals & Converting

Johnson Matthey overhauls its business

April 21, 2017

Specialty chemicals company Johnson Matthey PLC Thursday said it will reorganize its business into four divisions instead of five. The reorganization will lead to “further synergies for customers and create value for shareholders,” the company said. At 1508 GMT, shares down 3 pence, or 0.1%,..

ExxonMobil and SABIC select site for planned petchem JV

April 20, 2017

ExxonMobil Chemical and SABIC have selected a site in San Patricio County, Texas, near Corpus Christi, for developing a jointly owned petrochemical complex on the US Gulf Coast. ExxonMobil and SABIC will now apply for air and wastewater permits from the Texas Commission on Environmental..

Chemical industry group nervous about Brexit talks

April 19, 2017

The European chemical industry is reportedly worried about forthcoming talks between the U.K. and the remaining members of the European Union as discussions regarding “Brexit” prepare to get underway next month. European Chemical Industry Council director general Marco Mensink told Bloomberg this week that he..

AkzoNobel makes case for remaining independent

April 19, 2017

AkzoNobel has outlined a shift in strategy that it says will “accelerate growth and value creation.” The company, as previously reported, is splitting into two entities, one based on coatings and the other on specialty chemicals. Separating AkzoNobel’s specialties business, which posted sales of €4.8..

PPG reiterates AkzoNobel bid, first approached about merger in 2013

April 18, 2017

In a letter to AkzoNobel shareholders released today, PPG Industries chairman and CEO Michael McGarry has restated his company’s commitment to negotiating a merger with AkzoNobel and addressed some criticisms of PPG’s offer to buy its Dutch rival. We are not a U.S. business, but..

Ashland Global to acquire Pharmachem Laboratories for $660 million

April 18, 2017

Ashland Global Holdings Inc., a specialty chemicals company serving a range of consumer and industrial markets, said Monday that it will acquire Pharmachem Laboratories Inc. for $660 million. Pharmachem Labs provides ingredients for the health and wellness industry, such as vitamin and dietary supplements, ingredients..

Williams Partners to sell Williams Olefins interest to Nova Chemicals

April 17, 2017

Williams Partners LP said Monday it will sell its interest in Williams Olefins LLC for $2.1 billion in cash to Nova Chemicals. Williams Olefins owns an 88.5% interest in the Geismar, Louisiana olefins plant. Under terms of the deal, Williams Partners’ subsidiaries will enter long-term..

ChemChina-Syngenta deal wins Chinese regulatory approval

April 13, 2017

ChemChina’s $43 billion planned takeover of Swiss pesticides and seeds group Syngenta has received approval from China’s Ministry of Commerce (MOFCOM), the two companies said on Wednesday. “This represents a further step towards the closing of the transaction, which is expected to take place in..

Linde rejects request to vote on Praxair merger at AGM

April 12, 2017

Germany’s Linde has for a second time rejected a request for a shareholder vote at its annual general meeting next month on its planned $65 billion merger with U.S. industrial gases rival Praxair. Linde said shareholders would in any case have to decide individually whether..

Rebel shareholders seek dismissal of AkzoNobel chairman

April 12, 2017

Rebel shareholders in Dutch paint maker Akzo Nobel want to oust the company chairman after Akzo refused to engage in takeover talks with U.S. rival PPG Industries. Elliott Investors, one of Akzo’s largest shareholders, said in a statement it was one of a group of..