In response to what it describes as a “challenging macroeconomic environment” marked by continuing erosion of consumer sentiment in Europe and the lack of any meaningful recovery in Asia following the Covid-19 lockdowns in the first half of 2022, US plastics producer Trinseo said it is evaluating its asset footprint to improve its economic position and operating flexibility.
Ineos Enterprises has agreed to acquire Ashta Chemicals from Bigshire Mexico for an undisclosed sum. The deal that includes a 100,000 kg/y potassium hydroxide (KOH) and a 65,000 t/y chlorine plant, is targeted to close before the end of 2022, subject to regulatory approvals.
Specialty ingredients and chemicals distributor Univar Solutions has added pharmaceutical ingredient laboratories at four of its flagship centers around the world: in Houston, Texas, USA; Osasco, Sao Paulo, Brazil; Mexico City, Mexico; and Essen, Germany.
Having survived the pandemic so far in good condition, chemical distributors are well positioned to grow, provided they understand how the rules for winning have changed. Distributors that keep their customers’ needs front and center will be best positioned to succeed, regardless of what the future brings.
ExxonMobil, LyondellBasell and Cyclyx International have agreed to jointly establish a plastic waste sorting and processing facility in Houston, Texas, USA, providing feedstock for both mechanical and advanced recycling technologies.
South Korea’s LG Chem is to acquire US biopharma Aveo Oncology for an equity value of $566 million. Based in Boston, Massachusetts, Aveo is focused on developing cancer treatments.
The European Public Prosecutors Office (EPPO) has confirmed that it is looking into the EU Commission’s ordering of Covid-19 vaccines, with the probe thought to pertain in particular to order activity outside the usual purchasing channels.
As QatarEnergy works to expand its gas production and trading operations amid a surge in global demand, it has stressed that it will not divert liquefied natural gas (LNG) contracted with Asian buyers to Europe as some governments had hoped.
Lilly has agreed to acquire Akouos, a precision genetic medicine company that is developing gene therapy treatments for hearing loss. Both companies’ boards have approved the deal, which is expected to close in the fourth quarter and cost Lilly up to $610 million.
Ineos O&P Europe, the olefins and polyolefins arm of the Ineos group that steers its European business, will invest €30 million to convert existing capacity at its polyethylene plant at in Lillo in the Port of Antwerp to either monomodal or bimodal grades of high-density polyethylene (HDPE).
Bodo Möller Chemie has acquired Portuguese distributor Anmapi for an undisclosed sum. Located in Valbom, Gondomar (Porto) – north of Lisbon – Anmapi supplies Henkel’s brand of Bonderite cleaners and corrosion protection products for the metal industry in Southern Europe.
Purolite, a US manufacturer of ion exchange resins that is also part of Ecolab, has opened up a new facility in Llantrisant, Wales, tripling its bioprocessing resin production. The company said the extra output will meet growing global demand for biopharmaceutical products.
Every year, the chemical industry sees hundreds of mergers and acquisitions (M&A). Traditional M&A drivers, such as consolidation and portfolio extension, are still important. But many transactions also show that the nature of M&A is evolving, as chemical companies look for ways to contend with ongoing volatility and move to a more sustainable future.
The increasing complexity in drug development and the highly competitive industry landscape are creating a dramatic shift in how pharmaceutical and biotech companies plan for and execute drug development and production.
Many chemical executives say their companies have made significant progress in their digitalization efforts in the last two years – and they are even more excited about it now.
Many chemical executives say their companies have made significant progress in their digitalization efforts in the last two years – and they are even more excited about it now.
Saudi Arabia’s ACWA Power is partnering Korea Electric Power Corp. to jointly develop green hydrogen/ammonia projects. The companies propose to work on projects in the Middle East and other agreed geographies, including decarbonizing KEP’s operations in South Korea.
US drugmaker Merck & Co is going ahead with plans to develop a therapeutic cancer vaccine called mRNA-4157 together with Covid vaccine maker Moderna. This fulfills an agreement first signed in 2016 and amended in 2018.
French energy giant TotalEnergies has signed an agreement with waste management and advanced recycling specialist Indaver covering offtake of petrochemical feedstock generated from the Belgian company’s advanced recycling of mixed polyolefins waste.
Romanian oil group OMV Petrom is investing €130 million to add an aromatics plant at its Petrobrazi refinery. The new unit, to be installed over the next three years, will replace an existing facility that started production in 1961.
Swiss distributor DKSH is poised to acquire North American specialty chemicals distributor Terra Firma, expanding the platform of its Performance Materials business unit to the US and Canada.
US ammonia manufacturer CF Industries and energy giant ExxonMobil are collaborating to capture and store up to 2 million t/y of CO2 emissions the CF complex at Donaldsonville, Louisiana. The project is scheduled to start up in early 2025.
The Shell/ExxonMobil petroleum additives joint venture Infineum has agreed to acquire the Pipeline and Industrial Materials (PIM) business of US company Entegris. The transaction is expected to close in the fourth quarter, subject to regulatory clearance and the usual conditions.
Munich-based German CDMO Adragos Pharma said it has signed a definitive agreement with Sanofi’s Japanese subsidiary to acquire a pharmaceutical manufacturing site in Kawagoe, near Tokyo.
Petronas Chemicals Group Berhad (PCG) has completed its acquisition of all shares of Swedish chemical producer Perstorp for $1.54 billion, based on an enterprise value of €2.3 billion.
Interest in oligonucleotide therapeutics has grown, as has the market demand, since their emergence as a new drug modality two decades ago.
Solvay has signed a non-binding offtake agreement with Australia’s Hastings Technology Metals for the supply of mixed rare earth carbonate (MREC). Under the deal, Hastings will initially supply 2,500 t/y of MREC from its Yangibana rare earth project in Western Australia to Solvay’s plant in La Rochelle, France.
Against the backdrop of weaker than expected third-quarter earnings – “significantly worse” in Europe and a negative result in Germany – as well as deteriorating framework conditions, BASF is launching a cost-saving program focused on those two strategic markets.
The European Commission has cleared Celanese’s proposed purchase of DuPont’s Mobility and Materials (M&M) business after the former agreed to sell its global thermoplastic copolymer business to allay competition fears.
German chemical distribution group Bodo Möller Chemie has expanded its business in the Iberian Peninsula with the acquisition of General Adhesivos, an adhesives specialist located not far from the industrial centers of Tarragona and Barcelona in Spain.
BASF and South Korea’s GS Engineering and Construction (GS E&C) have signed a Memorandum of Understanding (MoU) to jointly develop modular solutions for carbon capture facilities.
The planned 60:40 specialty materials joint venture of German chemical producer and private equity group Advent International, announced at the end of May, is gradually taking on visible contours.
US life sciences company Cytiva has acquired Germany’s Cevec Pharmaceuticals, a move Cytiva said would further strengthen its leading position in biomanufacturing solutions. Financial terms were not revealed.
Dutch life science ingredients distributor Barentz has acquired Viachem, a US-based company that distributes specialty chemicals, food additives and ingredients.
The US Department of Health and Human Services (HHS) said last week it has budgeted $290 million to stock up on Amgen’s Nplate (romiplostim), a drug primarily used to treat acute radiation sickness in the event of a nuclear emergency.
