DuPont and The Dow Chemical Co. said that China’s Ministry of Commerce has granted conditional regulatory approval of their proposed merger of equals.
MOFCOM’s approval is conditional on DuPont and Dow fulfilling commitments given to MOFCOM in connection with the clearance.
Specifically, and consistent with commitments already made to obtain the European Commission’s regulatory approval for the proposed merger of equals, Dow and DuPont will divest certain parts of DuPont’s crop protection portfolio and research and development pipeline and organization and Dow’s global Ethylene Acrylic Acid copolymers and ionomers business.
On March 27, the European Commission conditionally approved the merger. The companies reaffirm their expectation for closing of the merger to occur between August 1, 2017 and September 1, 2017, with the intended spin-offs to occur within 18 months of closing. The companies expect that the first step of the intended separation process will be the spin-off of the Materials Science Company, assuming such sequencing would allow for the completion of all intended spin-offs within 18 months of merger closing and would not adversely impact the value of the intended spin-offs.
Source: RTT News via Nasdaq
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.
