SOCMA's Specialty Insights Highlights Industry's Adaptability and Agility

SOCMA | October 09, 2020

Society of Chemical Manufacturers & Affiliates (SOCMA) is pleased to announce the release of the third issue of the association's semi-annual publication.  Written and developed specifically for the specialty and fine chemical value chain, this edition, "Charting the Course for 2021," showcases the journey of the industry during this unprecedented year. "SOCMA is proud to deliver this latest issue reflective of the adaptability, agility and ambition of this innovative industry," said SOCMA President and CEO Jennifer Abril. "Across industry sectors, companies are solving challenges and providing solutions with resilience and resourcefulness, as echoed through these pages."

Spotlight

Plastics have become the ubiquitous workhorse material of the modern economy – combining unrivaled functional properties with low cost. Their use has increased twentyfold in the past half-century and is expected to double again in the next 20 years. Today nearly everyone, everywhere, every day comes into contact with plastics – especially plastic packaging, the focus of this report. While delivering many benefits, the current plastics economy has drawbacks that are becoming more apparent by the day.


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CHEMICAL MANAGEMENT

CN Energy and Xujin Environmental Protection Enter Strategic Cooperation

CN Energy Group. Inc. | January 25, 2022

CN Energy Group. Inc. announced a strategic cooperation between its subsidiary CN Energy Industrial Development Co., Ltd. and Xujin Environmental Protection Carbon Industry Co., Ltd. The two companies will cooperate in sharing technology, resources and expertise for their mutual benefits, as they create an integrated and optimized activated carbon sales business focused on revenue and profit growth opportunities in the hazardous waste and solid waste disposal businesses. CN Energy Group. Inc. is a manufacturer and supplier of high-quality wood-based activated carbon and biomass electricity. The Company also provides activated carbon-related technical services used by food and beverage producers, industrial manufacturers, pharmaceutical manufacturers, and environmental protection enterprises. Founded in 2016, Xujin Environmental Protection has been focused on growing its business in the hazardous waste treatment industry. The company has established expertise in the regeneration of saturated activated carbon and the sales of recycled activated carbon. "We continue to focus on accelerating our revenue growth and profitability as we execute on our core business and invest in new areas. We have been developing multi-year expansion opportunities as we have grown our footprint to include numerous new industries, including providing waste treatment solutions for pharmaceutical manufacturers, food services companies and environmental protection enterprises, among others." Mr. Kangbin Zheng, Chairman and CEO of CN Energy Group, Inc "Through our latest cooperation, CN Energy Group will formally enter the saturated activated carbon recycling market. We believe our latest strategic cooperation with Xujin Environmental Protection will add another new stream of revenue to our business while providing much needed solutions to the hazardous waste treatment industry. We plan to work closely together through our strategic cooperation with Xujin to leverage our complementary advantages and provide customers with more comprehensive and convenient services using a fully integrated business model across the activated carbon industry. We expect to mutually benefit as strategic partners and also expect our customers to benefit from our technology sharing and innovation. We anticipate that this partnership will help us further expand our market share and create greater value for our shareholders." About CN Energy Group. Inc. CN Energy Group. Inc. is a manufacturer and supplier of high-quality wood-based activated carbon and biomass electricity. The Company also provides activated carbon-related technical services used by food and beverage producers, industrial manufacturers, pharmaceutical manufacturers, and environmental protection enterprises. The Company's current facility is located in Tahe County, Heilongjiang Province, near the Greater Khingan Range, in close proximity to its suppliers.

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CHEMICAL MANAGEMENT

Odyssey Investment Partners Acquires Pexco

Odyssey Investment Partners, LLC | March 17, 2022

Odyssey Investment Partners, LLC a middle-market private equity firm, announced that its Fund has acquired Pexco LLC, a leading North American engineered plastic component supplier, from AEA Investors. Another Odyssey Fund previously owned Pexco from 2012 to 2017. Financial terms of the transaction were not disclosed. Based in Atlanta with manufacturing plants in the United States and Mexico, Pexco provides extrusion, design and fabrication of specialty plastic products for a wide variety of applications across a diverse range of end-markets including traffic safety, lighting, fluid handling, electrical insulation, privacy fence, and other specialty industrial markets. Pexco CEO Sam Patel and the management team will continue to lead Pexco and have invested alongside Odyssey in the transaction. “We are very familiar with Pexco and are thrilled to partner again with its proven and experienced management team. Pexco has evolved into a company focused on a diverse range of industrial businesses with deep industry relationships and stable demand across attractive end markets. Pexco has the ability to continue scaling its business by applying its unique operational capabilities to address customers’ most challenging applications. As Pexco continues to expand to new end markets and high-performance polymers, we look forward to leveraging our resources to support the company’s long-term growth and continued industry leadership.” Craig Staub, a Senior Managing Principal at Odyssey Jonathan Hall, a Principal at Odyssey, said, “Sam and his team at Pexco have done a fantastic job since we last worked together – notably, executing nine strategic acquisitions to grow the business and capitalize on new market opportunities to broaden the company’s product portfolio and geographic reach. Their hard work to strategically expand operations, add capacity, and drive efficiencies has placed Pexco in a strong position to capitalize on multiple organic growth opportunities in today’s market environment.” Mr. Patel said, “We are thrilled to welcome back Odyssey Investment Partners as our majority owner. During our previous partnership we benefitted extensively from the Odyssey team’s guidance in developing and prioritizing both organic and inorganic growth initiatives, leading to a very successful outcome. We are very pleased that Odyssey has once again recognized Pexco’s considerable potential in its target end markets. We look forward to resuming our collaboration and continuing our growth trajectory through the next chapter in Pexco’s storied history.” Latham & Watkins LLP served as legal advisor to Odyssey and KPMG served as financial advisor. About Odyssey Investment Partners Odyssey Investment Partners, with offices in New York and Los Angeles, is a leading private equity investment firm with a more than 25-year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority-controlled investments in industries with a long-term positive outlook and favorable secular trends. About Pexco LLC Based in Atlanta with multiple plants across the United States and Mexico, Pexco is a North American leader in the design and fabrication of engineered plastic components. It provides standard and specialty parts and components to manufacturers and end-users for a broad range of custom applications, including the specialty industrial, fluid-handling, lighting, traffic safety, fence, and electrical insulation industries. Pexco offers a full range of custom design, engineering, and fabrication services, including ISO 9001:2015 registration, across its manufacturing operations.

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CHEMICAL MANAGEMENT

Triangle Lithium LLC Announces Kickoff of Antofalla Drilling Campaign

Triangle Lithium LLC | March 29, 2022

Triangle Lithium LLC is pleased to announce that its subsidiary, Triangle Lithium Argentina, SA a joint venture with Lithium Energi Argentina, SA has finalized and executed all the contracts required to kick off its drilling campaign in the Antofalla Salar in Catamarca Province, Argentina. Work will commence in the next ten days. Trila finalized the execution of contracts with Dorado Exploraciones y Servicios, a mining services contractor owned by the former Secretary of Mines for Catamarca Province, Rodolfo Micone. Resulting from relationships derived during his many years as the head of SEM, Sr. Micone is one of the most well-known mining industry experts in the region and has hand-picked the "best of the best" for the subcontractor group being engaged for the implementation of the Campaign. Central to the sub-contracting group is Hidrotec, SRL, perhaps the most experienced salar drilling company in Argentina. The Campaign will initially undertake 2,400 meters of drilling in six "diamantinas," narrow diameter, core holes drilled with diamond drill bits to obtain and extract physical cores samples. The average total depth ("TD") per well is anticipated to be 400 meters; however deeper horizons may also be explored based on real-time field results. The core samples will reveal porosity, permeability, and chemical analysis critical for development planning and resource valuation. Core samples are planned for analysis at Geosystems Analysis, Inc. in Tucson, Arizona, one of the foremost analytical laboratories in the world for analyzing lithium brine core samples. After tagging bottom at TD, packer tests will be conducted from bottom hole up to surface to obtain sizable quantities of brine. Brine sample analysis will be conducted at Alex Stewart Laboratories to yield a complete spectroscopic analysis of brine chemistry and lithium concentrations. In addition, a minimum of 10,000 gallons of brine obtained during the Campaign will be sent to Triangle's technology provider, International Battery Metals to run through its direct lithium (DLE) extraction plant to determine verifiable lithium extraction rates and other critical determinations. Moreover, these tests will enable IBAT to tailor its modular DLE plant for the particular chemistry of Trila's properties in Antofalla for maximum efficiency and efficacy. The Antofalla basin is a long, narrow, fault-based graben – identified as one of the world's largest entrapment depressions hosting lithium-bearing brine – and its total depth is not well known. Published data from drilling campaigns executed by other exploration companies on claims near the JV's claims in the Antofalla Salar have reportedly yielded indications of significant volumes of lithium-bearing brine with concentrations ranging from 350 to 650 ppm. Trila has engaged a highly-experienced team to plan, execute, and analyze the Campaign, including qualified persons designated to govern the sampling and testing protocols. Australian QP Murray Brooker, a well-known professional with many years of hands-on salar drilling knowledge in Argentina, will lead those aspects of the Campaign. Based on field results obtained during the Campaign, Trila may elect to expand the Campaign to include multiple rotary wells, which are larger diameter wells suited for implementation of long-term pumping tests that are requisite to determining the drawdown and recharge rates related to brine extraction from the subterranean aquifers. At its conclusion and based on the data obtained from the core samples and pump tests, the Campaign is expected to yield an NI. 43-101 resource estimate, which the company believes could be ready for publication in Q4 of 2022. "We are proud beyond words to have assembled, in record time, a world-class team to undertake this initial drilling campaign in the Antofalla Salar. And we are confident that once undertaken, the Campaign will yield results that validate our belief that Antofalla is one of the world's great lithium resources." Triangle's CEO, Ali Rahman Sorcia Metal Corporation CEO and Triangle's Chairman, Daniel Layton, stated that "With our ability to utilize Sorcia's IBAT technology license, we see the potential for actual lithium production as achievable in our near-term horizon, possibly as early as Q1 2023, emerging right when the world needs these commodities the most."

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CHEMICAL MANAGEMENT

Chemours Suspends Business with Russian Entities

Chemours Company | March 11, 2022

The Chemours Company a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions, today announced it has suspended business with Russian entities in response to the ongoing military conflict and humanitarian crisis. “Chemours condemns the senseless violence taking place and views continuing business as inconsistent with our company values. As always, we will work to meet the needs of our global customers throughout this process, however, we believe suspending business with Russian entities is the right thing to do. We will continue to monitor the situation closely and reassess in the future.” Mark Newman, President and CEO for Chemours Chemours also announced a $100,000 donation to the International Committee of the Red Cross to support humanitarian efforts in the region. “Every day we encourage our people to operate with the courage to make a difference. Over the past two weeks the people of the Ukraine have embodied such courage and perseverance. Now, we want to do our part and help make a difference by supporting those in need,” said Newman. Chemours has a small office in Moscow and is working closely with employees to ensure their safety. About The Chemours Company The Chemours Company is a global leader in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration, and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.

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Spotlight

Plastics have become the ubiquitous workhorse material of the modern economy – combining unrivaled functional properties with low cost. Their use has increased twentyfold in the past half-century and is expected to double again in the next 20 years. Today nearly everyone, everywhere, every day comes into contact with plastics – especially plastic packaging, the focus of this report. While delivering many benefits, the current plastics economy has drawbacks that are becoming more apparent by the day.

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