Chemicals & Converting

Chems recycling maturity timeline shortening as momentum builds – INEOS director

March 22, 2019

The popular perception of a 10-year window before chemicals recycling matures may be pessimistic due to the level of industrial and governmental interest, with the technology representing the ultimate solution to the viability of the circular economy, according to INEOS director Tom Crotty. The process..

‘Over-zealous’ Germany energy transition risking industrial competitiveness – Wacker CEO

March 21, 2019

The increasing operational costs arising from Germany’s transition away from nuclear and coal energy could lead to upheavals in German industry “that no one can or want to imagine”, according to Wacker Chemie CEO Rudolf Staudigl said on Tuesday. Coal plantThe Germany-headquartered specialty chemicals producer..

Eastman Chemical, Conduit Global cutting jobs in Tennessee

March 20, 2019

Eastman Chemical Co. says it is cutting an undisclosed number of jobs globally, citing “the ongoing U.S.-China trade dispute” and an economic slowdown in Europe. Eastman spokeswoman Betty Payne said in a statement Thursday that the chemical and plastics manufacturer has seen reduced demand for..

INEOS to acquire Cristal’s North American business from Tronox

March 20, 2019

INEOS Enterprises (London; www.ineos.com) has signed an agreement to acquire the North American business of National Titanium Dioxide Company Limited (Cristal) from Tronox Ltd. (Stamford, Conn.; www.tronox.com) for $700 million. Cristal’s North American business includes two plants located at the Ashtabula, Ohio (US) complex. The..

Pilot Chemical names president to head investment strategy

March 15, 2019

Pilot Chemical, a maker of cleaning and metalworking chemicals, has named Mike Clark, currently the company’s COO, as president. Clark will oversee implementation of Pilot’s investment strategy, and continue to report to Pilot CEO Pam Butcher. Pilot plans to “invest millions in the development and..

Fortrec completes acquisition of aromatic solvents refinery in Ulsan

March 14, 2019

Singapore-based Fortrec has closed the purchase of the aromatic solvents refinery in Ulsan, Korea. Financial details of the deal have not been disclosed. Following the completion of the acquisition, it has also restarted the operations of the refurbished facility, which has an annual production capacity..

EU, UK chems plea again for ‘disastrous’ no-deal Brexit to be avoided

March 13, 2019

UK and EU chemicals companies reiterated on Monday that a no-deal Brexit would have “disastrous consequences” for the EU-wide supply chains created in the last four decades. Among other signatories, the statement published on Monday was signed by both the EU-wide chemicals trade group Cefic..

Sika acquires manufacturer of polyurethane foam systems in Belarus

March 13, 2019

Sika has agreed to acquire Belineco LLC, a Belorussian manufacturer of polyurethane foam systems. With the acquisition Sika will further expand its know-how in the production and development of polyurethane foams. Together, the two companies will gain better access to the trade distribution channels in..

ICCA: Chemical Industry contributes $5.7 trillion to global GDP and supports 120 million jobs

March 12, 2019

A report released today [Monday] by the International Council of Chemical Associations (ICCA), in conjunction with the start of the Fourth United Nations Environmental Assembly taking place in Nairobi, says the chemical industry in 2017 made an estimated $5.7 trillion contribution to world GDP through..

Germany’s Linde agrees to sell South Korea assets to IMM for $1.2 billion: sources

March 11, 2019

German industrial gases group Linde has agreed to sell its South Korean assets to local private equity firm IMM for 1.3 trillion won ($1.15 billion), two people familiar with the matter told Reuters on Friday. The move is seen as part of Linde’s efforts to..

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