Polymers
Eastman to buy US specialty chemicals firm Solutia in $4.7 billion deal
Eastman Chemical has agreed to acquire US-based specialty chemicals and performance materials firm Solutia, a global leader in performance materials and specialty chemicals, in a deal valued at about $4.7 billion (including debt). The deal is expected to close in mid-2012.
Samsung, Total plan $1.8 billon expansion on South Korea petrochemical venture
Construction at the Daesan complex will include a second aromatics1 unit and an ethylene-vinyl acetate (EVA) copolymer unit.
Novamont, Genomatica sign Europe JV for bio-BDO
Novamont and Genomatica have signed a definitive agreement establishing a joint venture (JV) for the first industrial plant in Europe producing butanediol (BDO) directly from renewable feedstocks. Initial production is expected in 2013. Novamont will have a majority of the equity in the JV, and Genomatica a minority interest.
BP unveils global energy outlook through 2030, boosts demand estimate
Global energy demand will continue to grow over the next 20 years, albeit at a slowing annual rate, fueled by economic and population growth in non-OECD countries, BP said in its Energy Outlook 2030 report. The demand projection is up 1.2% from the year-earlier estimate.
BASF to invest €1bn on new TDI plant in Germany
BASF plans to build a single-train 300,000 tpy production plant for TDI (toluene diisocyanate) and expand additional plants for its precursors at its site in Ludwigshafen. TDI is a key component mainly used for flexible polyurethane foams.
Georgia Gulf rejects $1bn unsolicited takeover bid from Westlake Chemical
The board of directors for US chemicals firm Georgia Gulf rejected Westlake Chemical’s unsolicited proposal to acquire the company for a $30/share bid, valued by analysts at just over $1 billion. Georgia Gulf also modified its shareholder rights plan in hopes of thwarting the bid.
Westlake bids for US chemicals firm Georgia Gulf
Westlake Chemical has submitted an unsolicited proposal to US-based chemicals firm Georgia Gulf to acquire all of the outstanding shares of Georgia Gulf for $30/share in cash. Thus far, Georgia Gulf’s management “has been unwilling to engage in substantive discussions", the company said.
ADM to end US bioplastics alliance with Metabolix
US-based bioscience firm Metabolix announced Thursday that Archer Daniels Midland (ADM) has given a termination notice for its role in the companies’ Telles joint venture for PHA bioplastics. ADM said projected financial returns from the alliance were too uncertain.
LyondellBasell to shut two polypropylene lines in Germany
LyondellBasell will shut down two polypropylene (PP) lines in Wesseling, Germany, by mid-2012, seeking to reduce costs and maintain its competitive position.
Celanese finalizes deal to acquire polyvinyl acetate lines from Ashland
US-based specialty materials producer Celanese completed its acquisition of certain polyvinyl acetate assets from Ashland. The deal was first announced in November, and financial terms were not disclosed.
- Technip Energies awarded two large contracts by BPCL for new units at Bina and Mumbai refineries in India 1/28
- ADNOC and TAQA announce 27-yr utilities agreement with TA’ZIZ, enabling world-scale chemicals production at Ruwais 1/28
- BASF to open global digital hub in India in Q1 2026 1/28
- Solvay inaugurates Europe’s first bio-circular silica facility in Italy 1/28
- Nikkiso’s next-generation marine fuel cryogenic pump skids to support dual-fuel vessel conversions 1/28
- Indian diesel exports to West Africa jump as EU bans Russian crude-derived fuel 1/28
