Air Products has announced that it has acquired the remaining 50% stake in a gasification joint venture from China Shenhua Coal to Liquid and Chemical.
Air Products acquired General Electric’s gasification business in 2018 which included the 50% stake in a syngas joint venture with China Shenhua Coal to Liquid and Chemical, a subsidiary of China Energy Group. It has now bought the remaining stake to bring its ownership to 100%.
With this transaction, Air Products aims to strengthen its broader gasification technology portfolio in China. The financial details of the deal have not been disclosed.
Seifi Ghasemi, CEO of Air Products, said: “Our latest investment is another step to support our gasification growth strategy that addresses the world’s energy and environmental challenges. We continue to execute several megaprojects in China and around the world.”
by Amanda Doyle
Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.
Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.
Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.