9:28 AM MST | February 8, 2012 | Sotirios Frantzanas
Mexichem (Tlalnepantla, Mexico) says it has agreed to acquire 100% of Wavin (Zwolle, the Netherlands) for approximately €531 million ($704 million). Mexichem intends to make a cash offer of €10.50 per Wavin ordinary share. The offer represents...
Indorama Ventures (Bangkok) says it will acquire the chemical assets of Old World Industries (Northbrook, IL), including its production facility located at Clear Lake, TX, for $795 million. Old World will retain its consumer products division, including Peak antifreeze. As part of the purchase agreement, Old World will enter into a long-term glycol supply contract with Indorama for its antifreeze production in the U.S....
Shanghai Pharmaceuticals (Shanghai, China) says it will acquire a 70% stake in Changzhou Kony Pharm (Changzhou, China), and will also purchase the remaining 30% stake in the next two years. Kony Pharm manufactures active pharmaceutical ingredients (APIs) and...
Toyo Engineering Corp., announced today that it has acquired a 47% stake in PT. Inti Karya Persada Teknik (IKPT; Jakarta). IKPT, an engineering company founded in 1982, specializes in engineering, procurement and construction (EPC) work in sectors that...
Topping the headlines last week, Dow Chemical swung to a $20 million fourth-quarter loss on a tax charge. Excluding the charge, earnings totaled $289 million, or 25 cts/share. Earnings fell short of analysts’ estimates of 30 cts/share, and were also...
This Week on CW: Dow Chemical reported a $20 million loss on a tax-related one-time charge. Excluding the charge, Dow recorded earnings of $289 million, down from the year-ago period and falling short of analysts’ estimates. Meanwhile, Cabot...
Moody’s Investors Service (New York) says that the global chemical industry will experience a “modestly better year in 2012,” largely due to lower raw materials prices, according to a new report. The biggest threat to the industry’s...
Praxair has sold its advanced components segment, which makes and sells electrostatic chunks (ESCs) and chamber components for semiconductor processing equipment, to FM Industries (FMI; Fremont, CA). FMI is a subsidiary of NGK Insulators, a...
Westlake has increased its bid for Georgia Gulf by 17%, to $35/share, or about $1.29 billion. Westlake will also pay a portion of the consideration to Georgia Gulf shareholders in Westlake shares, the company says. Westlake has also decided against nominating...
Borealis has, as expected, acquired fertilizer producer PEC-Rhin (Ottmarsheim, France) from GPN, a Total subsidiary. Financial terms of the deal were not disclosed. GPN became 100% owner of PEC-Rhin last month by purchasing BASF's 50% stake in the...
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