Contribution By Paroma Bhattacharya
December 8, 2018
Reports indicate that Rotterdam based multinational chemical company LyondellBasell Industries N.V. and a United Steelworkers (USW) local union have initiated talks over a new contract for 485 workers at the Houston oil refinery of LyondellBasell. This report came a day after the employees rallied outside …
Axalta brings the Adurra range of refinish accessories to Europe
December 5, 2018
Axalta, a leading supplier of liquid and powder coatings is reportedly releasing its Adurra line of refinished accessories in Europe. As per trusted sources, the brand takes advantage of Axalta’s 150 years of coating expertise to deliver a custom-made product portfolio complementing the professional refinishing …
Hanwha Total Petrochemical to pour in $500M in Daesan facility
December 4, 2018
Korean petrochemical conglomerate, Hanwha Total Petrochemical Co., Ltd., is reportedly investing around $500 million to expand its Daesan refining & petrochemical integrated facility in South Korea. As per trusted sources, the planned investment is anticipated to increase the firm’s polypropylene capacity by nearly 60% to …
EOS, Etihad Airways join forces to boost 3D printing of aircraft parts
December 3, 2018
Leading industrial 3D printing supplier EOS and Etihad Airways Engineering have reportedly entered into a strategic partnership that would remarkably expand local capabilities for industrial 3D printing in the Middle East in the aviation sector. Through this collaboration, Etihad Airways Engineering would be able to …
Grupa Azoty acquires Compo Expert Group for €226m amid debt concerns
November 28, 2018
Poland-based chemical company Grupa Azoty S.A. has reportedly completed the acquisition of Compo Expert Group, a German specialty fertilizers producer, for €9 million lower than the maximum possible price. However, Raiffeisen Centrobank (RCB) allegdly stated that the non-transparency regarding the acquired debt in the agreement …
Rio sells its stake in Rossing Uranium to China’s state-owned CNUC
November 28, 2018
Rio Tinto, a mining giant based in Australia, has reportedly entered into an agreement with a state-owned Chinese company, China National Uranium Corporation (CNUC) to sell off its controlling stake in the mining company Rossing Uranium Ltd., based in Namibia, South Africa. According to credible …
IndiaRF invests $156M in Archean Group’s marine chemicals business
November 26, 2018
India Resurgence Fund (IndiaRF), a joint venture between Piramal Enterprises Ltd. and Bain Capital Credit., have recently invested around $156 million in business conglomerate Archean Group’s marine chemicals business. As per sources, the investment proceeds will be used to repay Archean Chemical’s existing debt, for …
Saudi Aramco to ink five crude oil supply agreements with China
November 23, 2018
Saudi Arabia’s national petroleum and natural gas company, Saudi Aramco has recently announced plans to ink five crude oil supply agreements (COSAs) with Chinese companies, taking the size of its prior established 2019 supply agreement to 1.67 million bpd (barrels per day). Reports from Gulf News suggest …