AMERICAS Mexichem buying AlphaGary for USD 300 million Mexichem SAB de CV is paying USD 300 million to buy compounder AlphaGary Corp. from Rockwood Holdings Inc. AlphaGary is the largest division in Rockwood’s specialty compounds segment and it develops high-technology compounds for niche applications. It has multinational clients in such sectors as communications cables, disposable […]

While renewable energy costs decline, some developing nations prioritize energy access over economic considerations.

Today the Wall Street Journal published a great piece on efforts by leading automakers such as Honda, Nissan, and General Motors to develop cheap cars for China’s millions.  These auto industry leaders are all collaborating with local, often state-owned Chinese companies to develop and produce cheap, small cars costing anywhere from $4,000 to $14,000.  While pessimists […]

AMERICAS Sasol to build a co-monomer plant at Lake Charles Sasol will build the world’s first commercial ethylene tetramerization unit designed to produce more than 100 KTA of combined octene-1 and hexene-1 co-monomers at its Lake Charles, LA complex. The unit will use Sasol’s proprietary technology converting ethylene to octene-1 and hexene-1. Construction is scheduled […]

AMERICAS Nova selling its stake in Ineos Nova joint venture Nova Chemical Corporation has sold its 50 percent stake in the Ineos-Nova polystyrene joint venture to its partner Ineos Group for an undisclosed price. Nova confirmed the sale on November 12 in its third-quarter earnings report. Nova and Ineos already had a similar JV in […]

AMERICAS LyondellBasell’s profit was boosted by strong polyolefin demand LyondellBasell announced a third-quarter net income of USD 467 million, compared to a net loss of USD 651 million in the third quarter of 2009, driven by increased demand for polyolefins and higher selling prices for ethylene. Globally, LBI’s olefins and polyolefins results have been approximately […]

Thermax, a leading energy and environmental service firm in India, is partnering with Reykjavik Geothermal to develop power plants in India.  A 3 MW pilot project in Ladakh has been planned.  This deal is in alignment with similar deals Thermal has executed on in the recent past, seeking to strengthen its position as a supplier […]

AMERICAS DAK Americas buying Eastman’s PET business for USD 600 million Eastman Chemical Co. has agreed to sell its integrated PTA and PET resin business to DAK Americas LLC, owned by Alpek, a division of Mexican conglomerate Alfa SAB de CV, for USD 600 million in cash. The transaction is expected to be completed in […]

AMERICAS LyondellBasell approved for NYSE listing LyondellBasell’s shares of its common stock are expected to begin trading on the New York Stock Exchange (NYSE) on October 14. Class A ordinary shares will trade under the symbol LYB and Class B ordinary shares under the LYB.B symbol. The company was de-listed from the NYSE after the […]

AMERICAS Braskem plans Polypropylene upgrade Braskem America will invest USD 40 million in its U.S. polypropylene business through 2011, upgrading facilities’ infrastructure, and integrating business processes with parent company Braskem. Braskem has allocated more than USD 35 million for upgrading manufacturing assets, and USD 15 million of that will go to the company’s La Porte, […]

AMERICAS DuPont and Invista settle polymers lawsuits DuPont and Koch Industries subsidiary, Invista have signed a settlement agreement resolving three existing lawsuits between the companies – concerning polymers technology, adiponitrile (ADN) technology, and disputes related to existing supply agreements. DuPont filed a lawsuit against Invista in 2008 alleging that Invista infringed upon DuPont patents and […]

The Wall Street Journal published today a good review of geothermal energy, which, “spurred by new technology and government funds, is enjoying a resurgence.” – Uday Turaga