Praxair, Inc., a leading global supplier of carbon dioxide (CO2) and other industrial gases, has completed its acquisition of Yara International ASA’s European CO2 business. Praxair also finalized the acquisition of Yara’s remaining 34% stake in the Yara Praxair Holding AS industrial gas joint venture.
In 2015, Yara’s European CO2 business provided liquid CO2 and dry ice primarily to the food and beverage industries, generating revenue of 112 million euros. The business operates CO2 liquefaction plants and dry ice production facilities across the UK, Ireland, Scandinavia, Germany, Benelux, France and Italy. The Yara Praxair Holding AS joint venture, operating in Scandinavia, was formed in 2007.
“These transactions are consistent with our business strategy to expand our presence in resilient end-markets such as food and beverage, as well as drive growth through synergistic acquisitions,” said Steve Angel, chairman and chief executive officer of Praxair.
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.