Chemicals & Converting

UK chems welcome draft Brexit deal, May seeks backing from cabinet

November 15, 2018

The UK’s chemicals trade group CIA welcomed on Wednesday the draft Brexit deal agreed with the EU, but Prime Minister Theresa May has called a government meeting later in the day to seek their support for the agreement. May faces a tough challenge. She first..

‘Money still to be made’ from crude but large investments needed – IEA

November 14, 2018

As developing economies continue their relentless urbanisation, the crude oil industry needs to reverse the declining trends in capital investments post-2014 in order to cater for that growth, the executive director at the International Energy Agency (IEA) said on Tuesday. Fatih Birol said that “there..

LyondellBasell sets sights on Latin America

November 13, 2018

Latin America has faced political and economic challenges in recent years, but continued expansion of the middle class positions the region as a vital global market for chemical makers with strong potential, says LyondellBasell CEO Bob Patel. “It is a story, just like in China,..

Adnoc and Aramco sign agreement to collaborate in natural gas and LNG sectors

November 12, 2018

The Abu Dhabi National Oil Co. (Adnoc) today signed a framework agreement with Saudi Aramco to explore potential opportunities for collaboration in the natural gas and liquefied natural gas (LNG) sectors. The cooperation brings together two of the world’s leading energy producers from the Arab..

LG Chem names vice chairman of 3M as its new CEO

November 9, 2018

LG Chem (Seoul), South Korea’s largest chemical company by revenue, today announced the appointment of Hak Cheol Shin, 61, as vice chairman and CEO. He is currently the vice chairman and executive vice president of 3M and will replace the current LG Chem chairman and..

Evonik to acquire PeroxyChem for $625 million

November 8, 2018

Evonik Industries says that it has signed an agreement with One Equity Partners to acquire PeroxyChem (Philadelphia, Pennsylvania) for $625 million. PeroxyChem is a manufacturer of hydrogen peroxide (H2O2) and peracetic acid (PAA). The company employs approximately 600 people, with eight production sites located mainly..

Sika acquires concrete fiber company in the USA

November 7, 2018

Sika has acquired the global Concrete Fibers business from Propex Holding, LLC, which includes a US plant manufacturing synthetic fibers for use in concrete reinforcement, sales operations in Sika’s three geographical regions, and a strong brand. The acquired business is a perfect addition to Sika’s..

EU policy changes favour R-PET market but some players want bolder steps

November 6, 2018

Recent legislative decisions in the EU are pushing recycled polyethylene terephthalate (R-PET) in the right direction, but not all European market participants consider them a bold-enough step. – European Parliament moves towards higher recycling rate targets – UK government announces plans to introduce plastics tax..

Kemira appoints Rasmus Valanko as Head of Corporate Responsibility

November 6, 2018

Rasmus Valanko has been appointed as Director, Corporate Responsibility at Kemira starting on February 1st, 2019. Rasmus is currently the Director of Climate and Energy at the World Business Council for Sustainable Development (WBCSD). In this role he is responsible for a wide portfolio of..

SABIC to merge fertilizer affiliates into new company

November 5, 2018

SABIC, currently in the process of being acquired by Saudi Aramco, on Sunday announced its decision to establish a new company called SABIC Agri-nutrient Investments, which will consolidate all its equity shares and assets currently held in several companies producing fertilizers. The plan is to..