Bayer scraps US plans to produce crop chemical blocked by court

Channelnewsasia | June 17, 2020

Bayer said on Tuesday (Jun 16) it will scrap a nearly US$1 billion project to produce the chemical dicamba in the United States, but said the move is unrelated to a federal court decision that blocked sales of weed killers based on the product. The German-based company is moving to save cash as it wages an expensive legal battle to fight allegations that another product, its glyphosate-based weed killer Roundup, causes cancer. Bayer denies the claims. The company said it is halting work on a new dicamba plant in Luling, Louisiana, because global overcapacity for producing the chemical made the investment less attractive. Instead, Bayer will continue to buy dicamba and produce its XtendiMax herbicide at another plant in Iowa, according to a statement. "Stopping construction enables us to preserve cash and prioritize our investments in new innovation for farmers," Bayer said.

Spotlight

Chemical industry is recognized as one of the most powerful sources of environmental pollution. Since all of the chemical manufacturing processes use raw materials and consumables from each component of environment, it is clear that damages resulting from the activities in chemical industry are not due to the very industrial processes.

Spotlight

Chemical industry is recognized as one of the most powerful sources of environmental pollution. Since all of the chemical manufacturing processes use raw materials and consumables from each component of environment, it is clear that damages resulting from the activities in chemical industry are not due to the very industrial processes.

Related News

CHEMICAL MANAGEMENT

Piedmont Lithium Partner Atlantic Lithium Completes Prefeasibility Study for Ghana Project

Piedmont Lithium and Atlantic Lithium | September 28, 2022

Piedmont Lithium a leading global developer of lithium resources critical to the U.S. electric vehicle supply chain announced that Atlantic Lithium has completed a prefeasibility study for Piedmont’s Ghana Project - Atlantic Lithium’s flagship Ewoyaa project located in the Cape Coast region of the country. The PFS demonstrates a production target for the Ghana Project of approximately 255,000 tons per year of 6% lithium spodumene concentrate over a 12.5-year mine life from Ore Reserves of 18.9 million tons at 1.24% Li2O. Estimated capital costs for the project increased as part of the PFS. However, Atlantic Lithium expects operating expenditures at the planned production plant to decrease. CAPEX increased from US$70 million to US$125 million. Of the increase, US$27 million is attributed to Atlantic Lithium’s decision to bring crushing in-house for improved operational control and reduced lithium losses. Piedmont Executive Vice President and Chief Operating Officer Patrick Brindle said he was pleased with the results of the PFS as Piedmont continues to advance plans across its global portfolio of assets. “We expect the project in Ghana to play a critical role in our ability to ramp up production of lithium hydroxide in the United States. This proposed operation is underpinned by high-grade mineral resources, critical infrastructure, access to a deep-water port, and available labor,” explained Brindle. “The study also highlights Atlantic Lithium’s plans related to community engagement and environmental stewardship. The combination of robust economics and commitment to best-practices strengthens our Ghana Project’s position as an industry-leading asset, and we couldn’t be more excited for our partners at Atlantic Lithium.” Piedmont is earning a 50% interest in Atlantic Lithium’s spodumene projects in Ghana. This agreement includes an offtake agreement for 50% of annual production at market prices on a life-of-mine basis. Piedmont also owns a 9.4% equity interest in Atlantic Lithium. With the completion of the PFS, the Ghana Project will now advance to the next stage of studies and permitting. Exploration and infill drilling continue as Atlantic Lithium works to submit a mining license application and scoping level environmental and social impact assessment report to the Ghanaian government as next steps. Atlantic Lithium is working toward a targeted first production of spodumene concentrate in Q3 2024, subject to receipt of a mining license within Q3 2023 and the project meeting all other statutory requirements. When the Ghana Project is operational, Piedmont plans to import spodumene concentrate from the project to supply the Company’s newly announced Tennessee Lithium project for conversion to lithium hydroxide. The Ghana Project is near the deep-water port of Takoradi, which provides the benefit of simple transport logistics for bringing the material to Piedmont’s Tennessee plant. Atlantic Lithium has several mechanisms to ensure the sustainable and effective implementation of health, safety, and environmental priorities for both employees and the community surrounding the Ghana Project. This includes documented plans, agreements, toolkits, and registers. Atlantic Lithium has actively engaged community members throughout the development of the project and will continue to do so to educate and inform on project plans, address concerns, and share local employment opportunities. The statements in the link below were prepared by, and made by, Atlantic Lithium. The following disclosures are not statements of Piedmont and have not been independently verified by Piedmont. Atlantic Lithium is not subject to U.S. reporting requirements or obligations, and investors are cautioned not to put undue reliance on these statements. Atlantic Lithium’s original announcement can be found here. About Piedmont Lithium Piedmont Lithium is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Québec with Sayona Mining and in Ghana with Atlantic Lithium. These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage.

Read More

CHEMICAL MANAGEMENT

Ingevity rebrands adsorbed natural gas business to NeuFuel™ and expands carbon- neutral offerings for existing diesel vehicles

Ingevity | October 03, 2022

Ingevity Corporation announced the rebranding of the company’s adsorbed natural gas vehicle business to NeuFuel™ to better reflect the company’s ability to help fleets immediately and cost-effectively transition to a cleaner, carbon-neutral fuel, and meet market needs to expand benefits to the diesel market, including existing diesel vehicles. Ingevity’s NeuFuel solution enables vehicles to run on carbon-neutral renewable natural gas and provides a more environmentally friendly option for light-duty trucks and vans. Introducing NeuFuel as an option for diesel fleets positions the company to respond to increased demand for low-cost sustainability solutions for existing in-service diesel vehicles such as school buses and delivery trucks and vans. “What makes Ingevity’s NeuFuel solution unique is that it provides diesel fleets a proven, cost-effective pathway to zero emissions – today - when using their existing diesel vehicles. The name, NeuFuel, distinguishes Ingevity’s solution as an RNG carbon neutral fuel source that helps fleets effectively and efficiently advance their sustainability goals.” Ingevity executive vice president and president, Performance Materials, Ed Woodcock The expanded NeuFuel product line is designed to pair with American CNG’s DEMI Diesel Displacer™ to create a dual-fuel, bolt-on solution for existing diesel fleets. Ingevity’s new diesel fuel partner joins a growing number of U.S. natural gas utilities, municipalities, and commercial fleets investing in NeuFuel-equipped vehicles. Additional information on the features and benefits of Ingevity’s NeuFuel technology can be found on the company’s website. Ingevity: Purify, Protect and Enhance Ingevity provides products and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in two reporting segments: Performance Chemicals, which includes specialty chemicals and engineered polymers, and Performance Materials, which includes high-performance activated carbon. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks, coatings, elastomers, bioplastics and automotive components that reduce gasoline vapor emissions. Headquartered in North Charleston, South Carolina, Ingevity operates from 25 locations around the world and employs approximately 1,850 people.

Read More

CHEMICAL MANAGEMENT

VanDeMark Chemical Announces Investment From SK Capital in Partnership with Comvest Partners

VanDeMark Chemical | September 08, 2022

VanDeMark Chemical, Inc. a leading global producer of life science chemistries, announced that funds advised by SK Capital Partners, LP have made an investment in the Company in partnership with existing co-owner Comvest Partners. SK Capital’s investment will serve as a catalyst for a new strategic direction as the Company seeks to deepen and expand its presence in fine chemistries for the global life science market. VanDeMark has been a platform company in Comvest’s private equity portfolio since 2019. Comvest will remain a co-owner of the Company. Headquartered in Lockport, N.Y., with a facility in Kazincbarcika, Hungary, VanDeMark is recognized as a worldwide leader in the production of high-end specialty chemical intermediates and derivatives for a diverse set of end markets including life sciences, electronics, polymers, coatings, personal care, and flavor & fragrances. The Company differentiates itself with a comprehensive portfolio of value-added building blocks and intermediates primarily used in life science applications. With expertise in product research and development, process optimization, quality assurance and control, regulatory guidance, and the production of fine phosgene derivatives, the Company also offers custom manufacturing capabilities for global customers who view VanDeMark as a critical provider of specialty building blocks based on phosgene and other chemistries. “As we deepen VanDeMark’s product and service offering with a focus on the life science markets, we remain focused on the core competencies and products that have enabled the Company’s tenured success. Although VanDeMark is well established, we feel the Company’s story is just getting started and see a tremendous opportunity to drive transformation and create a global leader for the provision of a broader set of high-end life science chemistries. Looking forward, we will seek to accelerate the Company’s transformation with strategic investments in adjacent portfolios of fine chemistries and additional manufacturing services that can be additive to our existing customers.” Mario Toukan, Managing Director of SK Capital “Comvest’s support and investment in VanDeMark’s infrastructure, manufacturing processes, and management team over the last three years has strongly positioned the Company for its next chapter of growth,” said Roger Marrero, a Senior Partner of Comvest Partners. “As we continue to build upon VanDeMark’s robust foundation and enhance the quality and diversity of its product portfolio, we are thrilled to partner with SK Capital. SK Capital brings a shared vision for the Company’s future, strategy, and expansion in the life sciences markets, as well as deep expertise in the sectors and markets in which VanDeMark operates.” Jon Borell, a Managing Director of SK Capital, added, “SK Capital has followed VanDeMark for many years, and we believe this is a great opportunity to partner with Comvest to bring our shared strategic vision to life. We feel privileged to play a part in VanDeMark’s story and will work closely with the Company’s employees and customers to bring further success to fruition.” Jeff Davis, VanDeMark’s CEO, commented, “We are excited to bring SK Capital into our ownership structure, alongside Comvest Partners and management. Comvest has been very supportive of our growth and has assisted us in building a strong foundation. SK Capital’s investment is a validation of the strength of the global innovation platform we have built and their sector focus and experience will allow us to rapidly build out a life sciences-focused platform, both organically and inorganically. I speak for all of us at VanDeMark when I say that we are very excited about the next chapter of the Company’s future.” King & Spalding LLP acted as legal counsel to SK Capital and Kirkland & Ellis LLP acted as legal counsel to Comvest. Debt financing was provided by a bank group led by CIT. About SK Capital SK Capital is a private investment firm with a disciplined focus on the specialty materials, specialty chemicals, and pharmaceuticals sectors. The firm seeks to build strong and growing businesses that create substantial long-term economic value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $16 billion annually, employs more than 20,000 people globally and operates 203 plants in 32 countries. The firm currently has approximately $6.6 billion of assets under management. About Comvest Partners Comvest Partners is an operationally focused private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages more than $7.7 billion in assets, and has invested over $8.7 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. About VanDeMark Chemical Since 1951, VanDeMark has specialized in the manufacture of fine chemicals acting as critical building blocks and intermediates for the life sciences sector. VanDeMark today offers a diverse set of downstream specialty compounds derived from phosgene, a specialty that requires intense concentration on advanced research and development, excellence in production technology, and strict adherence to the highest standards for safety, security and environmental responsibility. Today the Company offers a wide portfolio of these compounds and also retains unique custom manufacturing capabilities for global customers who see VanDeMark as a provider of critical chemistries for Pharmaceutical, Agrochemical and other Industrial applications. The Company retains expertise in product research and development, process optimization, QA/QC, regulatory guidance, and the production of these chemistries.

Read More