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
Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.
BASF and Israeli packager StePac have joined forces to create the “next generation” of fresh produce packaging. BASF will provide StePac with greater flexibility to advance contact-sensitive packaging formats to a higher sustainability standard by supplying StePac with Ultramid Ccycled – a chemically recycled polyamide 6.
TotalEnergies’ biorefinery in La Mède, France, allows direct access to renewable feedstock for its drop-in RE:newable polymer range derived from bio-based products. The company claims these polymers retain virgin-like properties.
