Sector News

Hanwha Chemical drops review of buying Dow Chemical chlorine biz

December 1, 2014
Chemical Value Chain
(Reuters) – South Korea’s Hanwha Chemical is no longer considering buying parts of Dow Chemical’s chloro-alkali business, a spokesman for Hanwha Group said on Monday.
 
South Korea’s Hanwha Chemical had picked Credit Suisse to advise on possible purchases from Dow Chemical’s chloro-alkali business but its interest is still in the early stages, Hanwha said earlier this year.
 
Hanwha Chemical and two group affiliates said it will buy stakes in Samsung Group’s four chemical and defence firms for 1.9 trillion won ($1.72 billion) last week.
 
The Hanwha spokesman said the stake purchases in Samsung firms are expected to boost its petrochemical business, no longer making it necessary to consider Dow Chemical’s businesses.
 
(Reporting by Joyce Lee; Editing by Michael Perry)

comments closed

Related News

May 15, 2022

New York’s EPR and packaging reduction bills lauded as game-changers in plastic pollution battle

Chemical Value Chain

The US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.

May 15, 2022

Borealis and Reclay launch entity focused on lightweight packaging 

Chemical Value Chain

The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.

May 15, 2022

Starbucks and Hubbub launch reusable packaging fund as COVID-19 diminishes consumer appetite

Chemical Value Chain

Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.