French industrial gases company Air Liquide confirmed on Monday it would invest around 130 million euros ($152 million) in the construction of a plant in Novokuznetsk, Russia.
Interfax quoted Kemerovo Region interim Governor Sergei Tsivilev referring to a total investment of more than 900 million euros over 20 years.
“This is intended for 20 years in stages. The overall amount of investment is more than 900 million euros [for] all stages,” Tsivilev was quoted by Interfax as saying, adding the timetable would depend on the development of the regional economy.
The company said on Thursday it would invest around 130 million euros for the construction of two Air Separation Units (ASUs).
Air Liquide did not comment on the figure of 900 million euros cited by Interfax.
($1 = 0.8565 euros)
Source: Reuters via Nasdaq
BASF has signed an agreement to sell its extruded polystyrene (XPS) Styrodur business to Karl Bachl Kunststoffverarbeitung, a fellow German company, as part of its strategy to focus on expandable polystyrene (EPS).
The approximately 50 employees involved in production, marketing, and sales will remain with BASF.
Barentz, a player in the speciality ingredients sector, has appointed Derk Jan Terhorst as group chief executive officer, effective immediately. Terhorst succeeds Terry Hill, who served as Interim CEO since May 2024. With over three years of experience at Barentz as Group CFO, Terhorst brings a robust background in financial management and strategic oversight.
Former Dow president and CEO Paul Oreffice died on Dec. 26 at his home in Paradise Valley, Arizona. He was 97. During Oreffice’s tenure at Dow, he is often credited with transforming the company from an American-focused industrial power into a global leader in chemicals and plastics.
