The European Commission on Tuesday opened an in-depth investigation into the proposed purchase by Germany’s BASF of Solvay’s nylon business, saying such a deal could reduce competition in the supply of the nylon production chain.
BASF agreed to buy Solvay’s global polyamide business in September for 1.6 billion euros (1.41 billion pounds), aiming to enhance its access to key growth markets in Asia and South America.
“We need to carefully assess whether the proposed acquisition would lead to higher prices or less choice for European businesses and, ultimately, consumers,” European Competition Commissioner Margrethe Vestager.
The Commission, which oversees competition in the European Union, said it has until Oct. 31 to decide on whether it would let the deal go ahead.
By Robert-Jan Bartunek
Source: Reuters
The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD) and Corteva, Inc. (NYSE: CTVA) (the “companies”) today announced they have reached an agreement in principle to comprehensively resolve all PFAS-related drinking water claims of a defined class of public water systems that serve the vast majority of the United States population.
The quest to develop hydrogen as a clean energy source that could curb our dependence on fossil fuels may lead to an unexpected place — coal. A team of Penn State scientists found that coal may represent a potential way to store hydrogen gas, much like batteries store energy for future use, addressing a major hurdle in developing a clean energy supply chain.
WE Soda (London), a major producer of soda ash, said it intends to launch an IPO and apply to list its shares on the main market of the London Stock Exchange. The company, wholly owned by industrial conglomerate the Ciner Group (Istanbul, Turkey), said it is the world’s largest producer of natural soda ash.
