Linde said it has so far not reached the upper size limit for the divestments that are needed to secure antitrust approval for the planned tie-up with industrial-gases rival Praxair but that the matter could be negotiable with the prospective merger partner.
The companies previously agreed that if regulators demanded the disposal of businesses with more than $3.7 billion in sales or $1.1 billion in earnings before interest, taxes, depreciation and amortization (EBITDA), either party could withdraw without penalty.
“Should this be the case anyway, Linde and Praxair will coordinate any further steps to be taken,” Linde Chief Executive Aldo Belloni said at the German group’s shareholder meeting.
By Alexander Huebner
Source: Reuters
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.
