Asia/Pacific
ABB obtains Baldor Electric and expands industrial motion presence
ABB will acquire Baldor Electric in an all-cash transaction valued at approximately $4.2 billion, including $1.1 billion of net debt. Under the terms of the definitive agreement, ABB will commence a tender offer to purchase all of Baldor’s outstanding shares for $63.50 per share in cash.
Neste Oil starts up new renewable diesel plant in Singapore
Neste Oil has started up the world's largest renewable diesel plant in Singapore. Production of NExBTL renewable diesel will be ramped up on a phased basis.
INEOS and BASF establish global styrenics company called Styrolution
INEOS Industries Holdings and BASF SE intend to combine their global business activities in styrene monomers (SM), polystyrene (PS), acrylonitrile butadiene styrene (ABS), styrene-butadiene block copolymers (SBC) and other styrene-based copolymers (SAN, AMSAN, ASA, MABS) as well as copolymer blends into a new joint venture called Styrolution.
BASF buys CRI/Criterion’s global styrene catalysts business
BASF has signed a purchase agreement to acquire the styrene catalysts business of CRI/Criterion, a wholly owned subsidiary of Shell based in Houston, Texas. Financial details of the transaction are not being disclosed.
ABB wins LNG transport vessel contract
ABB recently won an order worth $58 million to provide complete power and propulsion systems for six new LNG transport vessels to be built by Samsung Heavy Industries (SHI) at its shipyard in South Korea.
Aker Midsund delivering separator and scrubber packages for FPSOs
Aker Midsund has signed a contract to deliver four separator and scrubber packages to Hyundai Heavy Industries for the Goliat FPSO.
Alfa Laval wins SEK 50 million refinery order in India
Alfa Laval has received an order for Alfa Laval Packinox heat exchangers to be used in a refinery in India. The order value is about SEK 50 million and delivery is scheduled for 2011.
Bayer MaterialScience increases downstream presence in China
Bayer MaterialScience has announced plans to invest €110 million to build five new downstream facilities in China by 2012, as part of an ongoing process to serve the booming manufacturing sector in the country.
ITT picks up OI and enhances its global analytical instrumentation business
ITT Corp. has completed its previously announced acquisition of OI Corp. for approximately $29 million. OI is a provider of innovative instrumentation for laboratory and environmental testing in the pharmaceutical, petrochemical, power and industrial markets.
Asian investment creates opportunity for flow and filtration equipment
The expansion of sewage transport, primary treatment and secondary treatment in Asia is creating market opportunities for suppliers of pumps valves, scrubbers, chemicals, controls, filters and other water pollution control equipment.
- CNG, NOVA Chemicals collaborate to commercialize recycled polyethylene for sustainable flexible packaging 9/11
- Ecovyst announces agreement to sell its Advanced Materials & Catalyst segment to Technip Energies for $556 MM 9/11
- Toyo awarded revamp contract for gas-chemical complex in Turkmenistan 9/11
- Unified device integration roadmap solidified following FieldComm Group and FDT Group business combination 9/11
- 75% of critical infrastructure organizations endorse ‘secure by operations’ strategy to defend against OT cyberattacks 9/11
- BASF, AkzoNobel and Arkema team up to lower carbon footprint of architectural powder coatings 9/11
