Polymers
HP Impact: Bio-based polymers could be next big thing
Biofuels and bio-based chemicals have been promoted as a potential solution for dependence on petroleum. They also have favorable greenhouse gas emissions compared to fossil fuels and petrochemicals b..
Georgia Gulf rejects revised takeover bid from Westlake Chemical
Georgia Gulf on Wednesday rejected the revised takeover bid from US-based Westlake Chemical, which bumped its offer to $35/share from an earlier $30/share. The company said the offer was far from compelling and did not represent an appropriate price to discuss the sale.
Eastman to buy US specialty chemicals firm Solutia in $4.7 billion deal
Eastman Chemical has agreed to acquire US-based specialty chemicals and performance materials firm Solutia, a global leader in performance materials and specialty chemicals, in a deal valued at about $4.7 billion (including debt). The deal is expected to close in mid-2012.
Samsung, Total plan $1.8 billon expansion on South Korea petrochemical venture
Construction at the Daesan complex will include a second aromatics1 unit and an ethylene-vinyl acetate (EVA) copolymer unit.
Novamont, Genomatica sign Europe JV for bio-BDO
Novamont and Genomatica have signed a definitive agreement establishing a joint venture (JV) for the first industrial plant in Europe producing butanediol (BDO) directly from renewable feedstocks. Initial production is expected in 2013. Novamont will have a majority of the equity in the JV, and Genomatica a minority interest.
BP unveils global energy outlook through 2030, boosts demand estimate
Global energy demand will continue to grow over the next 20 years, albeit at a slowing annual rate, fueled by economic and population growth in non-OECD countries, BP said in its Energy Outlook 2030 report. The demand projection is up 1.2% from the year-earlier estimate.
BASF to invest €1bn on new TDI plant in Germany
BASF plans to build a single-train 300,000 tpy production plant for TDI (toluene diisocyanate) and expand additional plants for its precursors at its site in Ludwigshafen. TDI is a key component mainly used for flexible polyurethane foams.
Georgia Gulf rejects $1bn unsolicited takeover bid from Westlake Chemical
The board of directors for US chemicals firm Georgia Gulf rejected Westlake Chemical’s unsolicited proposal to acquire the company for a $30/share bid, valued by analysts at just over $1 billion. Georgia Gulf also modified its shareholder rights plan in hopes of thwarting the bid.
Westlake bids for US chemicals firm Georgia Gulf
Westlake Chemical has submitted an unsolicited proposal to US-based chemicals firm Georgia Gulf to acquire all of the outstanding shares of Georgia Gulf for $30/share in cash. Thus far, Georgia Gulf’s management “has been unwilling to engage in substantive discussions", the company said.
ADM to end US bioplastics alliance with Metabolix
US-based bioscience firm Metabolix announced Thursday that Archer Daniels Midland (ADM) has given a termination notice for its role in the companies’ Telles joint venture for PHA bioplastics. ADM said projected financial returns from the alliance were too uncertain.
- Sumitomo Chemical achieves scale-up of its process for producing propylene directly from ethanol 8/20
- EcoCortec, Jakob Schober GmbH awarded sustainability award for closed-loop circular films solution 8/20
- Czech refinery outage forces Orlen Unipetrol to seek state help to meet diesel demand 8/20
- China’s Sinopec Shanghai Petrochemical first half profit slides 8/20
- Major South Korean petrochemical firms and production 8/20
- Vioneo awards Lummus polypropylene contract for world's first industrial scale fossil-free plastics from green methanol facility 8/19
