Novachem | August 27, 2020
NOVA Chemicals Corp. (NOVA Chemicals), a leading producer of polyethylene resins, has introduced NOVAPOL® TRx0338-U and NOVAPOL TRx0535-U hexene comonomer resins. The next-generation products are designed to help rotomolders achieve unprecedented productivity and part performance. Extensive internal and customer testing has demonstrated that NOVAPOL TRx0338-U and NOVAPOL TRx0535-U resins can reduce cycle times by up to 30% and provide a processing window at least 15% broader than traditional hexene rotomolding resins. These enhancements enable a range of additional benefits
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CHEMICAL TECHNOLOGY
Albemarle | June 03, 2021
Albemarle Corporation, a global specialty chemicals industry leader, announced that it had completed the sale of its Fine Chemistry Services business to W. R. Grace & Co. for approximately $570 million, consisting of $300 million in cash. The issuance to Albemarle of preferred equity of a W. R. Grace & Co. subsidiary having an aggregate stated value of $270 million. The sale includes Albemarle's operations in Tyrone, Pennsylvania, and South Haven, Michigan.
"The sale of our Fine Chemistry Services business has enabled us to unlock substantial value from our portfolio of quality assets," said Albemarle's CEO, Kent Masters. "With the proceeds from this transaction, we have enhanced our available resources to execute our long-term growth strategy."
BofA Securities acted as exclusive financial advisor to Albemarle, and Troutman Pepper Hamilton Sanders LLP acted as legal advisor in connection with this transaction.
About Albemarle
Albemarle Corporation, headquartered in Charlotte, N.C., is a global specialty chemicals company with leading lithium, bromine, and refining catalysts. We think beyond business-as-usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented international teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.
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CHEMICAL MANAGEMENT
SI Group | July 26, 2021
SI Group, a leading performance additives company, said today that it intends to close the deal to sell the majority of its global Industrial Resins business to ASK Chemicals, a portfolio company of private equity firm Rhône Group, LLC.
SI Group's Industrial Resins products and related production facilities in Rio Claro, Brazil; Ranjangaon, India; and Johannesburg, South Africa, as well as licensed technology and numerous tolling agreements worldwide, are included in the transaction. ASK Chemicals, based in Hilden, Germany, is a global leader in the foundry materials sector, producing binders, coatings, feeders, filters, release agents, and metallurgical products such as iron casting inoculants, inoculation wires, and master alloys.
SI Group will carve out related businesses at these locations, including the production of Rubber & Adhesives, Oilfield, Surfactants, and Foundry products in Brazil, and will operate tolling agreements with ASK. The company will also retain the Industrial Resins businesses in the United States and China.
About SI Group
SI Group is a worldwide innovator in developing performance additives, process solutions, active pharmaceutical ingredients, and chemical intermediates. SI Group solutions are critical to improving the quality and performance of a wide range of industrial and consumer goods in the plastics, rubber and adhesives, fuels and lubricants, oilfield, pharmaceutical, and industrial resins sectors. SI Group, headquartered in Schenectady, New York, has a global manufacturing presence that comprises 24 facilities on five continents, servicing clients in 90 countries and employing 2,800 people worldwide. SI Group innovates and drives change to generate value, focusing on safety, chemistry, and exceptional results.
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