Chemical and oil companies to slash capital spending, slowing investment wave
In the wake of the coronavirus and collapse in crude oil prices, chemical, oil and gas, and midstream companies will all slash capital spending for growth projects to preserve cash.
Shell suspends construction on Pennsylvania cracker due to COVID-19 concerns
There are about 8,500 people working to build the $6 billion petrochemical plant near Pittsburgh.
DSM partners with Sabic and UPM Biofuels to create bio-based Dyneema
The partnership represents a big step in realizing Dyneema’s goal of sourcing at least 60 per cent of its feedstock from bio-based raw materials by 2030.
Huntsman to acquire CVC Thermoset Specialties for $300 million
The deal will complement Huntsman’s Advanced Materials portfolio and improve its epoxy-based materials, Huntsman said.
PolyOne makes new leadership appointments ahead of Clariant acquisition
The Avon Lake, Ohio-based company is establishing two leadership roles with designated regional responsibilities for its Colour, Additives and Inks segment.
Mitsubishi Chemical buys two European plastics recycling companies
In a move to bring supply of recycled resins in-house, the Tokyo-based chemical firm has acquired Swiss recycling firms Minger Kunststofftechnik AG and Minger Plastic AG.
Domo Chemicals to build nylon compounding plant in China
The new plant will be capable of producing 50,000 tonnes of sustainable and innovative engineered nylon compounds each year.
Ingenia Polymers acquires La Porte, Texas operations of LyondellBasell
In a statement, Toronto-based Ingenia said that the acquisition “brings added expertise and capacity to its team and infrastructure, increases its leadership in the polymer producer services market, and expands its capability to serve the converter market.”
Suit inspired by Batman could protect wearers from coronavirus
Beijing design firm Penda has invented a shield-like suit with advanced coronavirus-fighting capabilities that it says can protect wearers from the potentially deadly virus.
Rotomolder Tank Holding buys Hoover Ferguson intermediate bulk container manufacturing assets
In a statement, Tank Holding said that the purchase further strengthens its market position as the leading North American manufacturer of reusable and returnable IBCs used to transport chemicals and food products.
Merger of two colourant suppliers renamed as DCL Corp.
Following the merger of pigment suppliers Dominion Colour Corp. and Lansco Colors in 2018, the business has now been renamed as DCL Corp.
India’s Prescient Color changes name to integrate with Americhem
Two years after being bought by colourant supplier Americhem, India-based Prescient Color Ltd. has changed its name to Americhem Polymers India Private Ltd.
Plastic additives make for more durable highways in India
By preventing polymer degradation, light stabilizers from BASF are extending the service lifespan of geotextiles used as the country ramps up its road construction.
Jack Welch, plastics pioneer and former General Electric CEO, dies at 84
Welch joined GE’s plastics division in 1960 and rose to become the industrial giant’s president and CEO in 1981. He was inducted into the Plastics Hall of Fame in 2006.
JEC World 2020 is postponed due to coronavirus outbreak
The 2020 edition of the JEC World composites trade show in Paris has been postponed from March 3-5 to May 12-14, 2020.
New polymer patch can mend a broken heart
Bioengineers at the Trinity College in Dublin have developed a prototype polymer-based patch that could be used to repair damaged heart tissue following a heart attack.
BASF pledges to have women in 30 per cent of leadership roles by 2030
This latest goal follows on the heels of a similar BASF target, set in 2015, of increasing the proportion of women in leadership roles to 22 to 24 per cent as of 2021, which it achieved at the end of 2019.
Breen back as CEO as DuPont makes leadership changes
CEO Marc Doyle is being replaced by chairman Ed Breen after a management shakeup, and Lori Koch has been named as chief financial officer.
Wacker to cut 1,000 jobs in cost-saving measure
The Germany-based chemical maker said the job cuts will affect its administrative departments and the “indirect, non-operational functions” of its business divisions
Musabbeh Al Kaabi named as Nova’s new chairman
Al Kaabi is the CEO of petroleum and petrochemicals for Mubadala Investment Co. of Abu Dhabi, which is Calgary-based Nova’s parent firm.