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
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).