U.S. chemicals group Reichhold secured EU antitrust approval on Friday for its proposed buy of Italian polymers maker Polynt after pledging to divest a facility in France to U.S. company Ashland Global Holdings.
Reichhold, owned by a group of investors including Black Diamond Capital, had announced the asset sale last month. The plant, located in Etain in north-east France, is Reichhold’s largest unsaturated polyester resin plant.
The European Commission said the asset sale addressed its concerns about the competitive impact of the deal.
Polynt is a leading European producer of resins which are principally used in the transportation and construction industries.
By Foo Yun Chee
Source: Reuters
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.
