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April 7, 2016
ACC says the number of announced chemical capital projects in the United States tied to the shale gas revolution has reached 264. ACC estimates the total potential investment at $164 billion, of which 40% is completed or under way and 55% is in planning....
April 7, 2016
Axiall’s board of directors, on 4 April, turned down a second, $3.1-billion acquisition bid from Westlake Chemical. Westlake responded the same day by formally ending negotiations and asking Axiall shareholders to elect a new board selected by Westlake....
April 7, 2016
Honeywell is considering a sale of its nylon chemicals business, a maker of caprolactam and related products, according to a Bloomberg report. The report said that the business could...
April 7, 2016
Vale (Rio de Janeiro) denied that it was negotiating the sale of fertilizer assets to Yara (Oslo), according to a statement issued by the company on 6 April. The statement followed a...
April 6, 2016
Braskem Idesa, a 75-25 joint venture between Braskem and Grupo Idesa, started polyethylene (PE) production at its Coatzacoalcos, Mexico complex on 6 April. The jv started injecting...
April 1, 2016
Lanxess and Saudi Aramco have completed the formation of the companies' previously announced 50-50 synthetic rubber joint venture, Arlanxeo (Maastricht, Netherlands). The deal was announced in September 2015 and the jv had received all relevant antitrust approvals by February 2016....
April 1, 2016
The current wave of investments in ethane-consuming petrochemical plants and export facilities is driving up ethane production, according to a report by the US Energy Information...
March 31, 2016
DuPont disclosed today that it will not resume production at the La Porte, TX insecticide plant that has been offline since a fatal methyl mercaptan leak in late 2014. DuPont, which cites weak agriculture markets, said in an SEC filing that it expects to incur a pretax charge of approximately $70 million in the first quarter of 2016....
March 24, 2016
US specialty chemicals market volume index slipped 1.5% year-on-year (YOY) in February this year compared with February 2015, on a three-month moving average (3MMA) basis. Laggards continue to be oilfield chemicals, which dropped by 23.9% YOY (also 3MMA basis), followed by mining chemicals, down 13.0% YOY, and foundry chemicals, lower by 6.0%. Gains were notched by electronic chemicals, which climbed 17.3% YOY in February, construction chemicals, 7.8%, and cosmetic chemicals, 7.3%. Of the 28 sectors tracked by ACC, 19 improved in February this year versus a year ago, and 8 declined....
March 22, 2016
MEGlobal (Dubai) has chosen Dow Chemical’s Oyster Creek site at Freeport, TX, for the location of a new world-scale ethylene glycol (EG) facility, which the company expects to bring online in mid-2019. The plant will receive ethylene from Dow’s new Freeport ethane cracker under a long-term supply agreement....
March 21, 2016
Synthomer (Harlow, UK), a leading specialty chemicals company, on Monday announces its acquisition of Hexion Performance Adhesives & Coatings (Hexion PAC) for $226 million, which is being funded from existing cash resources and additional credit facilities. The acquisition is expected to be completed during the summer following regulatory approvals and satisfying other closing conditions....
March 20, 2016
Sherwin-Williams has announced plans to acquire Valspar for approximately $11.3 billion, including debt. At $113/share, the transaction represents a premium of approximately 35% to Valspar’s closing price on 18 March....
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