German carbon specialist SGL Group said it had completed the carve-out of its graphite electrode business into a self-contained unit, paving the way for a possible exit.
The division known as Performance Products, which makes electrodes for steel recycling and cathodes for the production of aluminium, was initially scheduled to be carved out by the end of 2016 but a continued slump in the global scrap metal recycling industry prompted SGL to ramp up its restructuring efforts.
SGL said in March potential bidders for the graphite electrodes business had received first information packages and that two investment banks had been mandated for a sale. (Reporting by Ludwig Burger and Patricia Weiss; Editing by Maria Sheahan)
Source: Reuters
Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.
Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.
Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.
