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Saturday, 19 January 2019 - 9:46

Chemistry

BASF sells Volpiano site (Italy) to Gurit

Switzerland-based Gurit announced today it acquired BASF’s Volpiano site, producing PET structural foam and expected to generate a revenue of approximately CHF5m in 2016. The site will be integrated into Gurit’s Composite Materials business unit. (Source Gurit)

In surprise move, Praxair resumes talks with Linde

With a surprising move, Praxair restarted negotiations with competitor Linde over a combination that would create a $60bn leader in the medical and industrial gases business. Linde, indeed, has approximately $29bn in market capitalization, while Praxair has $34.6bn. The talks…

Toray proposes graphene for lithium batteries

Large industrial groups have an increasing interest in graphene, the material discovered few years ago that was awarded the Nobel Prize in Chemistry in 2010. Japan-based Toray developed a graphene conductive additive as an alternative to carbon black for coating…

BASF’s TDI mega-plant presents new problems

The mega-plant for TDI (polyurethanes) production BASF built in Ludwigshafen is presenting new problems. A significant phosgene release occurred last weekend at the plant, which was immediately halted. The facility cost approximately €1bn and was due to come into service…

Solvay in talks to sell polyamide division

Solvay is in talks with Kingfa, Ineos and Access Industries to sell its polyamide division, as Belgian newspaper De Tijd reports. At the moment, the three bidders have not allegedly placed any concrete offers. Solvay could receive between €800m and…

BASF to cut 170 jobs in Ludwigshafen

Germany-based chemical group BASF announced a major reorganization program leading to cut at least 170 jobs in Ludwigshafen. The employees involved in the program work in the sales department and half of them will be offered relocation to the Berlin…

Total engages in PLA and creates JV with Corbion

France-based petrochemical group Total and Corbion announced today that they have created a Joint Venture, with registered office in the Netherlands, to produce and market polylactic acid (PLA). The partners will build a 75,000 ton plant in Thailand, in the…

Versalis likely to be listed

Italian newspaper La Repubblica has reported a statement by Claudio Descalzi, ENI CEO, informing that the Italy-based petrochemical company might explore listing the subsidiary Versalis on the stock exchange. In July talks about selling 70% of Versalis to SK Capital…

New Zambon-Fabbrica Italiana Sintetici agreement

Zambon group has announced it has signed an agreement under which Fabbrica Italiana Sintetici (FIS) will take over Zambon’s chemical plant in Lonigo (Vicenza). This transaction creates a strategic partnership between Zambon, operating in the pharmaceutical and chemical field since…

Colorificio A&B Casati acquired by Meffert Ag Farbenwerke

Italy-based Colorificio A&B Casati has been acquired by Germany-based group Meffert Ag Farbenwerke. Meffert, founded in 1947, has 1,500 employees and production sites in several countries, including a plant in Illari, province of Verona. (Source Top Legal)

Clariant operating in mining business: two new M&A deals announced

Switzerland-based multinational Clariant announced today before markets (Zürich) opened that it has acquired the Australia-based Chemical & Mining Services, Pty. Ltd. The Australian company is specialized in manufacturing and marketing chemicals for the mining industry and operates primarily in Australia….

Dow-DuPont merger slowly progressing

DuPont’s and Dow Chemical’s managements announced yesterday that the merger between the groups is progressing more slowly than expected and is likely to be completed by the end of Q1 2017. The delay is due to the lengthy negotiations with…

The market of cathode material for lithium batteries

The market of cathode material for lithium batteries is undergoing profound transformation, with new dynamics resulting from partnerships being created among the bigs in the business. Johnson Matthey, maybe the top player in the business, has recently entered into a…

Syngenta-ChemChina, first friction with European antitrust Authorities

Syngenta’s shares dropped by nearly 9% (Zürich) when markets opened due to reported friction between European antitrust Authorities and ChemChina, which acquired Syngenta for $44bn. Apparently, ChemChina was due to provide information to such Authorities, including concessions to facilitate the…

Iran announces heavy investment plan in petrochemicals

On the occasion of K-Messe, the plastics and rubber exhibition held in Düsseldorf, an Iranian delegation including the Oil Minister and the top management of National Petrochemical Co. (NPC) announced sizable future investments in the petrochemical business. Iran will increase…

Akzo not to sell Specialty Chemicals segment

Netherlands-based chemical group AkzoNobel will not sell its Specialty Chemicals business unit, denying sale rumors which have been circulating for a long time now. In so doing, Akzo confirms its strategy to remain a manufacturer of chemicals, but also paints…

Celanese acquires Italy-based SO.F.TER.

US-based Celanese announced yesterday afternoon after stock markets closed that it has acquired the Forlì, Italy-based compounder SO.F.TER.. The acquired company is one of the largest ETPs and TPEs producers, with 4 manufacturing facilities in Mexico, Italy, Brazil and the…

Lithium batteries, future Johnson Matthey’s core business

Johnson Matthey’s battery division will succeed in making a profit for the first time this year, sending positive messages to investors, already impressed by the division revenue doubling in 2015 (£130m). The group produces battery material for the automotive industry,…

Graphene getting closer and closer to large-scale commercialization

Large-scale commercialization of graphene, the material awarded the 2010 Nobel Prize in Chemistry, is closer by the day. English manufacturer Applied Graphene Materials announced yesterday it has entered into a supply contract with Century Composites, which will produce fishing rods…

20 banks behind the Bayer-Monsanto mega-deal

At least 20 banks have financed the $56.9bn Bayer-Monsanto mega-deal. Some banks are bookrunners, others support Bayer as lead arrangers, with $4.5bn and $1.125bn holdings respectively. The main financiers include BoA, Merrill Lynch, Credit Suisse, Goldman Sachs, HSBC and J.P….

Avantium targets the IPO

Netherlands-based Avantium seeks an IPO in the Amsterdam stock-exchange valuing the group at an estimated €300m, German newspaper Die Welt reports, without disclosing the source. The IPO should be managed by ING and KBC. Some days ago Avantium announced the…

Covestro to become the world’s largest polycarbonate producer

Covestro inaugurated today two new production lines in its polycarbonates plant in Shanghai, doubling the site production capacities ($3bn having been invested in it) which now sums up to 400KmT. Thanks to this new capacity expansion, Covestro becomes the world’s…

A tough third quarter for BASF

Germany-based chemical giant BASF announced yesterday a decrease in sales and earnings in the third quarter of the year, mainly a result of the divestiture of important businesses, such as the gas trading. EBITDA decreased from €1.6bn to €1.5bn, while…

JV between BASF and Avantium for bio-PET

BASF and Netherlands-based Avantium have announced a joint venture for the production and commercialization of furandicarboxylic acid (FDCA) from renewable sources so as to obtain bio-PET (polyethilenterephtalate). The new JV, called Synvina, will be headquartered in Amsterdam and will benefit…

A new way for hydrogenation of graphene

A team of researchers at Uppsala University, in partnership with AstraZeneca Gothenburg research center, have presented a relatively simple, low-cost method for hydrogenation of graphene in the journal Nature Communications. In the study, graphene was treated with a water solution…

Atotech sold to Carlyle for $3.2bn

Bloomberg reported today that France-based petrochemical group Total has sold its subsidiary Atotech to private equity Carlyle Group for $3.2bn, equivalent to 11.9 times Atotech’s EBITDA (2015). The transaction brings to a close a long sales process which involved many…

2016 Nobel Prize in Chemistry awarded

The Royal Swedish Academy of Sciences today announced that the Nobel Prize in Chemistry 2016 has been awarded to Professor Jean-Pierre Sauvage, Professor Sir J. Fraser Stoddart and Professor Dr Bernard L. Feringa for their invention and development of molecular…

Umicore to close down Rheinfelden site

Belgium-based Umicore has announced it will close down its automotive catalysts production facility in Rheinfelden, Germany. In the next three years, 190 employees – on a total staff of 300 – will have to leave their jobs, while 110 of…

First compound with double-helix-structure now synthesized

A team of scientists led by Tom Nilgels of the TU of Munich has met the objective of preparing an inorganic compound, SnIP, featuring a double-helix structure. One of the helices comprises the semiconductor SnI+, the other one a P–…