Chemical Technology, Raw Materials
Businesswire | June 05, 2023
Global chemical company OQ Chemicals has launched Oxbalance TCD Alcohol DM, a sustainable alternative to conventional TCD Alcohol DM (Tricyclodecane Dimethanol). The ISCC PLUS-certified product is made from more than 70% biobased and biocircular feedstocks. OQ Chemicals recently increased its production capacity for TCD Alcohol DM in 2022 and is now expanding the application range for this product with the biobased variant. Due to its special properties, Oxbalance TCD Alcohol DM is suitable for the production of high-performance technical polymers such as polyesters, polycarbonates, and polyurethanes, as well as for use in adhesives, coatings and paints for the food packaging, electronics, and automotive industries.
“Our Oxbalance products provide our customers with a sustainable alternative to conventional fully synthetic products. Certified as biomaterials, they fully meet the specifications and qualities of conventional products without requiring a new approval or qualification. With these products that are mass-balanced according to ISCC PLUS, we offer our customers a solution that meets the growing demand for sustainable raw materials and the increasing requirements for complete transparency in the supply chain. Our customers can switch to our biobased Oxbalance products without compromising on performance or quality,” said David Faust, Executive Vice President Oxo Performance Chemicals at OQ Chemicals.
Dr. Oliver Borgmeier, CEO of OQ Chemicals, emphasized: “Oxbalance is our new line of biobased Oxo Performance Chemicals. We are proud to offer our customers sustainable alternatives to conventional fully synthetic products - first Oxbalance Isononanoic Acid and now Oxbalance TCD Alcohol DM. We will continue to expand our biobased portfolio. As an industry partner, we are growing together with our customers and developing sustainable solutions for the global market.”
The OxBalance product line uses the ISCC PLUS mass balance approach, which tracks renewable raw materials in chemical manufacturing processes and assigns them to the products. OxBalance is a registered trademark of OQ Chemicals.
About OQ Chemicals
OQ Chemicals (formerly Oxea) is a global manufacturer of Oxo Intermediates and Oxo Performance Chemicals such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These are used to produce high-quality coatings, lubricants, cosmetic and pharmaceutical products, flavors and fragrances, printing inks, and plastics. OQ Chemicals employs more than 1,400 people worldwide and markets its chemicals in more than 60 countries. The company is part of OQ, an integrated energy company originating in Oman. More information is available at chemicals.oq.com.
Imperial Petroleum Inc. | March 21, 2022
Imperial Petroleum Inc. announced the pricing of an upsized underwritten public offering of 37,500,000 units at a price of $1.60 per unit. Each unit consists of one common share and one Class B warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $60 million.
The Company intends to use the net proceeds of the offering for capital expenditures, including acquisitions of additional vessels which we have not yet identified, and for other general corporate purposes.
Each Class B warrant is immediately exercisable for one common share at an exercise price of $1.60 per share and will expire five years from issuance. The offering is expected to close on or about March 23, 2022, subject to customary closing conditions.
Maxim Group LLC is acting as sole book-running manager in connection with the offering.
The Company has granted the underwriter a 45-day option to purchase up to an additional 5,624,950 common shares and/or prefunded warrants and/or 5,624,950 Class B warrants, at the public offering price less underwriting discounts and commissions.
The offering is being conducted pursuant to the Company’s registration statement on Form F-1 previously filed with and subsequently declared effective by the Securities and Exchange Commission on March 18, 2022 and an additional registration statement filed pursuant to Rule 462(b), which was filed on March 18, 2022 and became effective upon filing. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at 895-3745.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT IMPERIAL PETROLEUM INC.
Imperial Petroleum Inc. is a ship-owning company providing petroleum product and crude oil seaborne transportation services. The Company currently owns three M.R. product tankers and one Aframax oil tanker with a total
True Value Company | March 15, 2022
True Value Company, one of the world's largest hardlines wholesalers, and The Yenkin-Majestic Paint Corporation, an Ohio-based manufacturer of coatings and coatings resins, announced they have entered into a definitive agreement under which True Value Company will acquire Yenkin-Majestic's consumer paint business, producing architectural coatings for home, agricultural, and specialty applications under the Majic brand name.
"The acquisition of the Majic portfolio of products is an excellent strategic fit for True Value. The Majic paint brand deepens our strong portfolio of products, which today includes our flagship EasyCare brand, and enhances our capabilities in the agricultural and other specialty segments of the paint industry. Customers of both companies will benefit from the higher levels of investment that True Value plans to make in research and development, as well as improving supply chain resiliency and customer support."
John Vanderpool, Division President, True Value Manufacturing & General Paint
Chris Kempa, CEO of True Value Company said, "This acquisition is another example of True Value's commitment to investing in its business, aggressively pursuing growth and ensuring that our retailers have what they need to win in the marketplace."
"True Value's focus on quality and service to paint retailers, and their commitment to the associates who power our organizations, mirror our company culture as a family-owned business," said Yenkin-Majestic President and CEO Andrew O. Smith. "True Value has been a respected partner of ours for many years, and we know they will take the Majic product line to new heights. We can think of no finer company to carry forward the legacy of our consumer paint business." He added, "This transaction also allows us to focus our resources and reinvest in our polymers business."
About True Value Company
True Value Company, headquartered in Chicago, is one of the world's leading hardlines wholesalers with a globally recognized brand and over 70 years of experience serving independent hardware retailers. True Value Company provides its customers in over 60 countries an expansive product set of market-customized assortments at highly competitive prices, superior product availability, innovative marketing programs and a la carte value-added services like eCommerce ship-to-store, store remodel support and True Value University, all within a flexible model that requires no membership. With 13 regional distribution centers, and approximately 2,500 associates serving over 4,500 stores, True Value Company celebrates independence and drives retail excellence across the U.S. and internationally.
The Yenkin-Majestic Paint Corporation, based in Columbus, OH, is the owner of OPC Polymers, one of North America's leading suppliers of coatings resins. OPC Polymers serves the paint industry through continuous innovation in its broad portfolio of alkyd, copolymer, and specialty resins. This family-owned business began in 1920.