Biobased isobutanol and ethanol producer Gevo (Englewood, CO) says it has commenced a review of strategic alternatives and has retained Cowen & Company as a financial advisor. The company did not say whether or not that included a potential sale of the company.
“After careful consideration, including discussions with a range of stakeholders, we believe it is an appropriate time to undertake a comprehensive review of the company’s strategic and financial alternatives,” says Ruth I. Dreessen, Chairman of the Board of Directors of Gevo. “The Board is thoroughly committed to exploring strategic and financial alternatives while simultaneously supporting management in the development of Gevo’s technology and business. We believe that pursuing both of these paths is in the best interests of all of our stakeholders, including our stockholders, and is expected to maximize the value of Gevo.”
The company is expecting to produce 750,000-1 million gallons of isobutanol and 15 million gallons of ethanol at its Luverne, MN facility in 2016. Ethanol margins have been breakeven to slightly negative, but are improving, the company reported last month.
By Rebecca Coons
Source: Chemical Week
Corteva (Indianapolis, Indiana) says it has signed a definitive agreement to acquire Stoller Group (Houston, Texas), a producer of biostimulants and plant nutrition products, for $1.2 billion. Stoller is one of the largest independent biologicals companies globally, with operations in more than 60 countries and more than $400 million in annual sales.
OMV has announced its new corporate structure today, designed to fully enable the delivery of Strategy 2030. The new organization will be built on five distinct areas. In addition to the CEO and CFO areas, three business segments will be established: Chemicals & Materials, Fuels & Feedstock, and Energy.
The European petchem sector is readying for some tough quarters. It’s a different picture in the US. So is this the best time ever to find a new role in the chemical industry? If you are in Europe, you would expect me to say probably not. But actually, it depends. So let me give you four answers to this question.
