Total has agreed to sell its speciality chemicals business Atotech to private equity firm Carlyle Group for $3.2 billion (2.57 billion pounds) , part of a $10 billion asset sale programme the French oil firm hopes to complete by the end of 2017.
Total said the sale price was equivalent to 11.9 times 2015 earnings before interest, tax, depreciation and amortisation for the business which specialises in metallization, panel plating and corrosion protection.
By Andrew Callus
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.
