Latest News: Business
Lone Star Funds to acquire BASF’s Construction Chemicals business
Today, BASF SE (Ludwigshafen, Germany; www.basf.com) and an affiliate of Lone Star Global Acquisitions, LLC (www.lonestarfunds.com), a global private equity firm, signed a purchase agreement for the acquisition of BASF’s Construction Chemicals business. The purchase price on a cash and…
U.S. specialty chemical markets continue 4th quarter on mixed note, ACC says
The American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com) reported that fourth quarter U.S. specialty chemicals market volumes continue on a mixed note, with a 0.3 percent decline in November following a 0.1 percent gain in October. All changes in the…
U.S. chemical production fell in November, ACC says
According to the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com), the U.S. Chemical Production Regional Index (U.S. CPRI) fell by 0.8 percent in November after gains the previous three months. During November, chemical output declined across all regions, ACC says.…
Apergy to combine With Ecolab’s Nalco Champion business
Apergy Corp.(The Woodlands, Tex.; www.apergy.com) and Ecolab Inc. (St. Paul, Minn.; www.ecolab.com) announced that their Boards of Directors have approved a definitive agreement pursuant to which Ecolab will separate the Upstream Energy business of Nalco Champion (which is being renamed…
Altana Acquires Overprint Varnish Specialist Schmid Rhyner
Altana AG (Wesel, Germany; www.altana.com) is taking over the Swiss overprint varnish specialist Schmid Rhyner AG (Adliswil, Switzerland), thereby strategically expanding its ACTEGA division (www.actega.com). “In acquiring Schmid Rhyner, we are continuing to systematically pursue the Altana strategy of generating…
KBR awarded project-management contract from Nigerian National Petroleum Corp.
KBR, Inc. (Houston; www.kbr.com) announced that it has been awarded the Project Management Consultancy Services contract by Nigerian National Petroleum Corp. (NNPC) for front-end engineering design (FEED) definition at the NNPC headquarters in Abuja, Nigeria. Under the terms of the…
Clariant to sell its Masterbatches business for $1.6 billion
Clariant (Muttenz, Switzerland; www.clariant.com) has agreed to sell its entire Masterbatches business to PolyOne Corp. (Avon Lake, Ohio; www.polyone.com). The transaction values the Masterbatches business at $1,560 million, representing about 12.2 times the last twelve months reported EBITDA (ending September…
Hitachi to sell chemicals business to Showa Denko for $8.8 billion
Hitachi, Ltd. (Toyko; www.hitachi.com) announced that it has executed a tender offer agreement with Showa Denko K.K. (SDK; Tokyo; www.sdk.co.jp) and HC Holdings K.K, a wholly- owned subsidiary of SDK, under which Hitachi agrees to tender all shares of common…
Axens signs agreement with PKN Orlen for Vegan Technology License
Axens (Rueil-Malmaison, France; www.axens.net) has signed an agreement with PKN Orlen for Vegan Technology License and Process Book Supply for the production of renewable diesel and jet fuel, through hydrotreating of vegetable oils in its Płock Refinery in Poland. Based…
Grupa Azoty selects KBR technology for high-purity nitric acid plant
KBR (Houston; www.kbr.com) has been awarded a contract to utilize its proprietary Plinke Magnac technology to produce high-concentration nitric acid at Grupa Azoty’s Tarnow site in Poland KBR will provide basic and detailed engineering design, equipment, and related advisory services…