Yousef Abdullah Al-Benyan, CEO of Saudi Arabian chemical giant SABIC, has been elected chairman of the Gulf Petrochemicals and Chemicals Association (GPCA) with immediate effect.
The SABIC executive, who was previously vice chairman of the GPCA, takes over from Rashed Saud Al Shamsi, former petrochemicals director at ADNOC. Membership of the GPCA now includes 250 companies from the chemical sector and supporting industries.
BASF sells a majority stake in its coatings business to the investor Carlyle.
Carbon black manufacturer Orion Engineered Carbons plans to rationalize production lines in North and South America and EMEA.
The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.
Novo Nordisk announced a global workforce reduction of approximately 9,000 positions to streamline operations and reinvest DKK 8 billion (€1 billion) in growth opportunities for diabetes and obesity treatments.
