Japan’s Asahi Kasei Corp said on Thursday [19 July] it would buy U.S. car interior maker Sage Automotive Interiors for $1.06 bln, including debt.
Asahi Kasei said the acquisition is aimed at strengthening its position in the car interior market. It said it would disclose the impact of the acquisition on its earnings as soon as it closes the deal, pending regulatory approval.
By Junko Fujita
BASF will build a commercial scale battery recycling black mass plant in Schwarzheide, Germany. This investment strengthens BASF’s cathode active materials (CAM) production and recycling hub in Schwarzheide. The site is an ideal location for the build-up of battery recycling activities given the presence of many EV car manufacturers and cell producers in Central Europe.
Clariant says it is reducing its number of businesses from five to three, by merging units, under a reorganization that is in line with the company’s purpose-led strategy and cultural transformation. The moves will position Clariant for long-term sustainable growth, the company says.
Chemicals & plastics industry has the most diversified end-use market across all manufacturing industries. The industry returned to growth in 2021 but a supply chain crunch prevented it from becoming stronger. The market is likely to stabilize in the second half of 2022 with a supply-demand balance.