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
Neste has bought the European rights for Alterra Energy’s liquefaction technology, strengthening its chemical recycling capabilities. Alterra is a US-based company that has developed a thermochemical solution for liquefying difficult-to-recycle plastics.
Lonza appoints Maria Soler Nunez as Head, Group Operations. Maria joins Lonza from Novartis where she has led the quality organization since 2020. Maria will commence her tenure with Lonza Group on 1 August 2022, succeeding Stefan Stoffel, who is retiring from Lonza.
AkzoNobel has announced that Gregoire Poux-Guillaume will become the company’s new Chief Executive Officer (CEO) as of November 1, 2022. He will succeed Thierry Vanlancker, who has been CEO and member of the Board of Management since 2017, and whose term of office is coming to an end.