Chemicals & Converting

BASF wins EU’s conditional approval for purchase of Solvay’s nylon business

January 21, 2019

The European Commission said on Friday it had approved the acquisition by German chemical company BASF of the nylon business of Belgian rival Solvay subject to conditions. The EU antitrust regulator said Solvay needed to divest its facilities in France, Poland and Spain to a..

Lyondell-Braskem deal delayed by Petrobras supply contract talks – sources

January 18, 2019

Brazil’s recent change of government has further delayed the long-awaited finalization of LyondellBasell Industries NV’s plan to buy Brazilian petrochemical company Braskem SA, three sources with knowledge of the matter said this week. Netherlands-based LyondellBasell first said it had entered into exclusive talks to acquire..

Dow, LyondellBasell, BASF, Henkel and other CEOs launch Alliance to End Plastic Waste

January 17, 2019

CEOs from chemical and plastics producers, consumer goods companies, retailers, converters, waste management firms and other organisations have signed up to the new Alliance to End Plastic Waste (AEPW), they said on Wednesday. The Alliance will be one of the largest non-profit organisations, with an..

SABIC acquires majority stake in carbon nanotube business for energy storage

January 16, 2019

SABIC announced today that it has taken a majority stake in Black Diamond Structures (BDS; Austin, Texas), a nanotechnology company established in 2014 as a joint venture between Molecular Rebar Design, a leading nanomaterial innovator, and SABIC. BDS produces and commercializes Molecular Rebar, a proprietary..

Ineos selects Antwerp for €3-billion cracker, PDH investment

January 15, 2019

Ineos, Europe’s largest petrochemicals company, today announced that it had selected Antwerp, Belgium, as the site of a previously announced ethane cracker and world-scale propane dehydrogenation (PDH) project in Europe. The €3-billion ($3.4 billion) investment is the largest in the European chemicals sector in 20..

Westlake closes acquisition of compounder Nakan

January 15, 2019

Westlake Chemical (Houston) has completed the acquisition of Nakan, a compounder of polyvinyl chloride (PVC), thermoplastic elastomers (TPE), and thermoplastic polyolefins (TPO) based in Reims, France, from OpenGate Capital (Los Angeles). Westlake announced the $265 million deal in September 2018. Nakan brings Westlake eight production..

Kemira forms joint venture in South Korea

January 14, 2019

Kemira has signed an agreement to establish a joint venture – Kemira Yongsan Chemicals Co. Ltd (“NewCo”) in Ulsan, Republic of Korea, with Yongsan Chemicals, a privately-owned chemicals company in South Korea. Forming a joint venture in South Korea is an important step in expanding..

Dow Chemical CEO: Valuing plastic waste as growth opportunity is solution to marine debris crisis

January 11, 2019

Solving the global problem of plastic waste in oceans will require “new thinking, new partners, and open collaboration,” and the best, long-term solution will be a supply chain that values plastic waste as a feedstock, according to Jim Fitterling, CEO of Dow Chemical. In an..

Synchronised global slowdown led by China hits chemicals outlook

January 10, 2019

It’s not news that China’s economy is slowing. Weakness in the manufacturing sector in particular has been apparent for years, and now exacerbated by the US-China trade war. However, the magnitude of the decline comes as a surprise and piles on top of the growing..

US government shutdown halts Tronox-Cristal antitrust remedy discussions with FTC

January 10, 2019

The partial shutdown of US government operations has stayed proposed antitrust remedy discussions related to Tronox’s planned acquisition of the titanium dioxide (TiO2) business of The National Titanium Dioxide Company Limited (Cristal) with the Federal Trade Commission. Tronox announced plans in February 2017 to acquire..