IHS Chemical Week

Regions :: Western Europe

U.K. (1251)

Sweden (214)

Finland (279)

Denmark (160)

Netherlands (780)

Belgium (809)

Germany (2413)

France (876)

Spain (218)

Italy (339)

Switzerland (609)

Austria (164)


U.K.

DSM completes sale of 65% stake in caprolactam, acrylonitrile, and composite resins businesses to CVC Capital Partners
DSM and CVC Capital Partners (London), an investment advisory firm, say that the partnership for DSM’s activities in the polymer intermediates business—caprolactam and acrylonitrile—and composite resins, has been finalized through the...

CF Industries completes acquisition of GrowHow UK from Yara
CF Industries has completed the acquisition of the shares it did not already own in GrowHow UK from Yara International for $580 million in cash. GrowHow owns and operates nitrogen production facilities at Ince and Billingham, United Kingdom. The acquisition...

ICIG completes acquisition of Vynova, appoints new management team
International Chemical Investors Group (ICIG; Frankfurt) has announced the completion of its acquisition of certain chlorvinyls assets from Inovyn, the polyvinyl chloride (PVC) joint venture between Ineos and Solvay. Ineos and Solvay had to sell these assets...

Shell to cut 6,500 jobs group-wide in response to continued low oil prices
Royal Dutch Shell says that it will cut 6,500 jobs this year, almost 7% of its total workforce, as part of additional cost-cutting plans designed to offset the impact of a prolonged period of low oil prices. Shell also plans to reduce capital expenditure...

LyondellBasell income up, beats analyst consensus
LyondellBasell reports net income from continuing operations of $1.3 billion, up 7.8% year-over-year (YOY) as higher volumes and lower feedstock costs more than offset declines in product prices. Sales totaled $9.1 billion, up 11.7% YOY....

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SWEDEN

Recipahrm sales, profit increase by double digits in second quarter and first half
Recipharm (Jordbro, Sweden), a contract development and manufacturing organization, says that its net sales in second-quarter 2015 were 868 million Swedish kroner ($101.2 million) compared with SK611 million in the corresponding quarter last year, a jump of...

Private equity firm PAI looking to exit Perstorp
Perstorp’s private equity owner, PAI (Paris), has appointed Rothschild to advise in an initial public offering of Perstorp, according to a Reuters report. The report cites people familiar with the matter. The potential deal could value Perstorp at more...

Perstorp acquires Koei Chemical’s pentaerythritol business
Perstorp (Perstorp, Sweden) says that it has acquired the pentaerythritol (penta), dipentaerythritol and sodium formate businesses, related technology as well as certain assets from chemicals producer Koei Chemical (Tokyo). Financial details of the deal have...

Recipharm acquires OnTarget Chemistry
Recipharm (Jordbro, Sweden) says that it has completed the acquisition of OnTarget Chemistry (Uppsala, Sweden), a contract research organization that offers synthetic and analytical chemistry services. The purchase price was 15.1 million Swedish kronor ($1.8...

Canadian firm acquires Vopak’s petroleum and petrochemical terminals in Sweden
Vopak and Inter Pipeline (Calgary, AB), a transportation and storage company, say that Inter Pipeline has completed the acquisition of four petroleum and petrochemical storage terminals in Sweden from Vopak, for about 865 million Swedish kronor ($105...

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FINLAND

Kemira appoints president of paper business and Asia/Pacific region
Kemira says that Kim Poulsen has been appointed president of the company’s paper segment and Asia/Pacific region and a member of the management board, effective 1 November. Poulsen joins Kemira from UPM, one of the world's leading fiber-based...

Kemira's revenue, profit increase by double digits in second quarter
Kemira (Helsinki) has announced revenue in second-quarter 2015 of €594.8 million ($646.4 million) compared with €518.2 million a year ago, or up 15% year-on-year (YOY). Operative Ebitda increased to €74.7 million versus €60.2 million in...

Vopak sells terminals in Finland to Oiltanking
Vopak has sold its Vopak Chemicals Logistics Finland subsidiary to a wholly owned subsidiary of Oiltanking (Hamburg). The net cash proceeds, based on the debt-free enterprise value of Vopak Chemicals Logistics Finland, amounts to approximately €43...

Kemira starts up production line in Finland for strength resins and solution polymers
Kemira says that it has started a strength resins and solution polymers production line at its paper chemical site at Äetsä, Finland. The new production line was started in April, and the production capacity has been ramped up. The plant serves...

Borealis phenol-acetone production expected to return to normal in July
Production of phenol and acetone at Borealis’s Porvoo, Finland site is not expected to return to normal levels until the second week of July, a company statement said Thursday. Borealis declared force majeure on supply of phenol and acetone out of...

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DENMARK

FMC to establish European regional headquarters in Denmark
FMC will establish a European regional headquarters and research facility at Horsholm, a suburb of Copenhagen, Denmark. The company's European Innovation Center (EIC) will be located at the Scion DTU Science and Technology Park in Horsholm. The EIC expected...

DKSH acquires Danish specialty chemicals distributor
DKSH has announced the acquisition of Andreas Jennow (Birkerød, Denmark), a specialty chemicals distributor in northern Europe. With this move, DKSH's performance materials business strengthens its geographic coverage in Europe, complements its market...

LEGO seeks to replace ABS with sustainable materials
The LEGO Group (Billund, Denmark), maker of the LEGO brick toys, has announced an investment of 1 billion Danish kroner ($147.8 million) to research developing and implementing new, sustainable raw materials to manufacture LEGO elements and packaging...

Odfjell appoints CEO
Odfjell says that it has appointed Kristian Verner Mørch CEO and president., effective 1 August. Mørch succeeds Jan Hammer as president and CEO. Hammer left Odfjell in December 2014. Mørch has been an Odfjell board member since May 2014...

Novozymes to establish innovation campus in Denmark
Novozymes (Bagsværd, Denmark) says that it plans to establish a new innovation campus at Lyngby, Denmark in order to create a global hub for biotech research and business development. The company has signed a deal with the Lyngby-Taarbæk...

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NETHERLANDS

DSM completes sale of 65% stake in caprolactam, acrylonitrile, and composite resins businesses to CVC Capital Partners
DSM and CVC Capital Partners (London), an investment advisory firm, say that the partnership for DSM’s activities in the polymer intermediates business—caprolactam and acrylonitrile—and composite resins, has been finalized through the...

ICIG completes acquisition of Vynova, appoints new management team
International Chemical Investors Group (ICIG; Frankfurt) has announced the completion of its acquisition of certain chlorvinyls assets from Inovyn, the polyvinyl chloride (PVC) joint venture between Ineos and Solvay. Ineos and Solvay had to sell these assets...

Yara awards EPC contract to Tecnimont for Dutch urea plant
Maire Tecnimont (Rome) says its Tecnimont (Milan) subsidiary has been awarded an engineering, procurement, and construction contract by Yara International for a urea granulation plant being built at Sluiskil, Netherlands. The contract is valued at...

Initial Europe August benzene contract down $29/m.t.
The benzene contract price for August has initially settled in Europe at $853/m.t. or €779/m.t., representing a decrease of $29 or €13 on the July level.     The decrease follows a month in which spot prices have been volatile. July...

Shell to cut 6,500 jobs group-wide in response to continued low oil prices
Royal Dutch Shell says that it will cut 6,500 jobs this year, almost 7% of its total workforce, as part of additional cost-cutting plans designed to offset the impact of a prolonged period of low oil prices. Shell also plans to reduce capital expenditure...

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BELGIUM

ICIG completes acquisition of Vynova, appoints new management team
International Chemical Investors Group (ICIG; Frankfurt) has announced the completion of its acquisition of certain chlorvinyls assets from Inovyn, the polyvinyl chloride (PVC) joint venture between Ineos and Solvay. Ineos and Solvay had to sell these assets...

Initial Europe August benzene contract down $29/m.t.
The benzene contract price for August has initially settled in Europe at $853/m.t. or €779/m.t., representing a decrease of $29 or €13 on the July level.     The decrease follows a month in which spot prices have been volatile. July...

Solvay swings to a net profit, sales up on currency effects
Solvay reports consolidated net income of €164 million ($181.4 million) in the second quarter, swinging from a €331-million loss in the same period last year, according to the company results released Wednesday. Ebit stood at €271 million, down...

Europe benzene under pressure in runup to August contract settlement
Europe's benzene price is under pressure in the runup to contract price discussions as a combination of a weaker US market and lower crude numbers have pulled spot prices lower this week. Brent crude has touched $52/barrel yesterday and today—a low not...

Solvay to acquire Cytec for $6.4 billion
Solvay says that it has signed a definitive agreement to acquire Cytec Industries (Woodland Park, NJ) for $75.25/share in cash, or a total of $5.5 billion. The transaction price per share represents a premium of 28.9% compared with Cytec's closing...

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GERMANY

Volumes and exchange rates lift Wacker Chemie's second-quarter sales and earnings
Wacker Chemie on Monday reported a 10% rise in second-quarter sales to €1.37 billion ($1.50 billion). The chemical divisions and silicon wafers subsidiary Siltronic achieved double-digit sales growth. Polysilicon sales, however, fell slightly...

ICIG completes acquisition of Vynova, appoints new management team
International Chemical Investors Group (ICIG; Frankfurt) has announced the completion of its acquisition of certain chlorvinyls assets from Inovyn, the polyvinyl chloride (PVC) joint venture between Ineos and Solvay. Ineos and Solvay had to sell these assets...

Evonik expands global R&D for cosmetics, personal care
Evonik Industries is globalizing its R&D activities for the global cosmetics industry, and at the same time using local R&D to strengthen its position in important growth markets. The company recently opened innovation centers in Midrand (South...

DSM and Evonik to develop algae-based omega-3 fatty acids for animal nutrition
DSM's nutritional products segment (Kaiseraugst, Switzerland) and Evonik's nutrition and care arm (Essen, Germany) on Wednesday announced that they have entered into a joint development agreement for algae-based omega-3 fatty acid products for animal...

Bayer raises second-quarter sales and earnings, lowers forecast
Bayer on Wednesday reported a 21% increase in second-quarter net income, including discontinued operations, to €1.15 billion ($1.27 billion), on 18% higher sales of €12.1 billion. Ebitda before special items advanced 33% to €2.90 billion. All...

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FRANCE

ICIG completes acquisition of Vynova, appoints new management team
International Chemical Investors Group (ICIG; Frankfurt) has announced the completion of its acquisition of certain chlorvinyls assets from Inovyn, the polyvinyl chloride (PVC) joint venture between Ineos and Solvay. Ineos and Solvay had to sell these assets...

Kem One SAS acquires Kem One Innovative Vinyls from Klesch Group
Kem One Group SAS (Lyon, France), jointly owned by private equity firm OpenGate Capital and Alain de Krassny, has acquired Kem One Innovative Vinyls from The Klesch Group. Details of the transaction have not been disclosed. Kem One Innovative Vinyls makes...

Arkema's second-quarter earnings lifted by Bostik
Arkema has reported a 67% increase in adjusted second-quarter net income, to €120 million ($131.3 million), on 39% higher sales of €2.1 billion. Ebitda advanced 52%, to €320 million, and the Ebitda margin rose to 15% from 14% in the...

European Commission approves French state aid to Kem One
The European Commission has given the green light to the French government to release €125 million ($138.1 million) in state aid to chlor-alkali and polyvinyl chloride (PVC) producer Kem One (Lyon), the commission announced Tuesday. The commission has...

Air Liquide's quarter-two revenue up, driven by growth in emerging markets
Air Liquide reported €4.12 billion ($4.55 billion) in revenues for the second quarter, up 3.4% year-on-year (YOY) on a comparable basis, driven by higher sales across all geographies, particularly in emerging markets, according to the company's...

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SPAIN

Fluor sells part of its Spanish subsidiary, confirms refinery award in Kuwait
Fluor Corp., the leading engineering and construction firm, has signed an agreement to divest 50% of shares in its Spanish operations, Fluor S.A., to Sacyr Industrial, a leading, multinational, Spanish construction company. The new entity, SacyrFluor, will be...

Repsol's petchem volumes inch up, downstream activities offset upstream weakness
Repsol's (Madrid) petrochemical sales volumes increased marginally during the second quarter, to 683,000 m.t., the company says. Repsol does not disclose the net profit generated by petrochemical sales. Basic chemicals and derivatives are included in the...

Quaker acquires specialty grease and lubricants manufacturer in Spain
Quaker Chemical (Conshohocken, PA) says that it has acquired Verkol (Bera, Spain), a leading specialty grease and lubricants manufacturer and marketer based in Northern Spain, for $40.1 million, including net cash of $10.5 million. Verkol sells products into...

Ferro completes acquisition of Spanish pigments producer
Ferro says it has completed the acquisition of Nubiola Pigmentos (Barcelona), a producer of specialty inorganic pigments, on a cash-free and debt-free basis for €149 million ($164.5 million), subject to working capital and other purchase price...

Cepsa lifts force majeure on phenol, acetone at Huelva, Spain
Cepsa (Madrid) has lifted the force majeure on phenol and acetone supplies from the company's Huelva, Spain, site, the company confirmed Monday. The force majeure was originally declared in the second week of May, when a mechanical issue on the condenser at...

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ITALY

Versalis swings to profit; benefits from shutdowns, Porto Marghera restart
Energy and chemicals major ENI (Rome) on Thursday said that Versalis (Milan), its chemicals business, is benefiting from the turnaround programs and business restructuring carried out over the last few years. The second-quarter results also reflect the...

Solvay to close sodium percarbonate plant in Italy
Solvay announces on Wednesday that it will stop producing sodium percarbonate at Rosignano, Italy, by the end of the first quarter of 2016. The company cites the lower use of powder detergent in Western Europe, the largest market for sodium percarbonate as a...

Solvay to build high-purity H2O2 plant in Italy to serve electronics customer
Solvay’s Special Chem business unit has partnered with one of the world’s leading electronics producers, under which Solvay will build a high-volume, high-purity hydrogen peroxide (H2O2) plant in Italy to meet the fast growing demand of the...

GFBiochemicals starts commercially producing levulinic acid from biomass
GFBiochemicals (Milan) announced at the BIO World Congress on Industrial Biotechnology, at Montreal that it has started commercially producing levulinic acid (4-oxopentanoic acid) at its Caserta, Italy, plant. The company is the first to make levulinic acid...

Versalis and Chinese companies form green tire technology alliance
Versalis (Milan), the chemicals arm of Italy’s energy major ENI (Rome), said on Friday that it has joined forces with Chinese companies to develop innovative green tires based on breakthrough technology. Versalis and Ecombine and EVE Rubber Institute...

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SWITZERLAND

Strong Swiss franc weighs on Clariant's second-quarter results, earnings soar in local currencies
Clariant says that its second-quarter net income dropped to 56 million Swiss francs in the second quarter from SF74 million in the corresponding period of last year. Ebitda before exceptional items slipped 1% year-on-year (YOY), to SF211 million in the second...

DSM and Evonik to develop algae-based omega-3 fatty acids for animal nutrition
DSM's nutritional products segment (Kaiseraugst, Switzerland) and Evonik's nutrition and care arm (Essen, Germany) on Wednesday announced that they have entered into a joint development agreement for algae-based omega-3 fatty acid products for animal...

Monsanto: $2-billion breakup fee payable if Syngenta deal blocked on any antitrust grounds
A Monsanto spokeswoman has confirmed to Reuters that the $2-billion breakup fee offered to Syngenta if antitrust regulators blocks US firm’s proposed acquisition would apply to any antitrust concerns “horizontal,”...

Sika reports higher sales and profits, to open several factories
Sika on Friday reported a 5.6% rise in sales in the first six months, to 2.63 billion Swiss francs ($2.73 billion), in constant exchange rates (CER) but a 1.2% decline in Swiss francs. The strength of the Swiss franc was more than compensated by volume...

Syngenta reports lower sales and earnings, confirms margin targets
Syngenta (Basel), the leading agricultural chemicals player, on Thursday reported first-half 2015 integrated sales of $7.6 billion, a 3% increase at constant exchange rates (CER). Second-quarter integrated sales were up 7% at CER, to $3.46 billion. Actual...

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AUSTRIA

Investment firm buys agchem intermediates, and MA and derivatives businesses from DSM JV
Ardian (Frankfurt), an independent private investment company, says that it has acquired the exclusive synthesis and maleic anhydride (MA) intermediates and specialties businesses of DPx Holdings (Durham, NC). The acquired activities are located at Linz...

Lenzing sells three business units
Lenzing (Lenzing, Austria) has announced today that it is selling three business units, part of Lenzing Technik, as part of its strategy of focusing more strongly on its core business of producing man-made cellulosic fibers. The mechatronics business area...

Borealis and Nexeo extend plastics distribution partnership
Borealis and Nexeo Solutions, a leader in plastics distribution, have announced an agreement to extend and further develop their existing partnership. Borealis is emphasizing the rigid and flexible packaging and fiber market, as well as the automotive...

Gazprom, E.On, Shell, and OMV agree to develop gas transmission infrastructure to deliver Russian gas to Europe
Alexey Miller, chairman of Gazprom; Klaus Schäfer, member of the board of E.ON; Ben van Beurden, CEO of Royal Dutch Shell; and Manfred Leitner, member of the board of OMV, on Thursday signed a memorandum of intent covering cooperating on a project to...

IPIC managing director appointed chairman of Borealis's supervisory board
Suhail Al Mazrouei replaces Khadem Al Qubaisi. Borealis on Tuesday announced the appointment of Suhail Al Mazrouei, managing director of International Petroleum Investment Co. (IPIC) to its supervisory board and the position of chairman of the supervisory...

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