HotNews
Global POM Market Set for Shake-Up as Hokuetsu’s Nantong Plant Launches
December 9, 2024 – Hokuriku Electric Industry Co., Ltd. (Hokuetsu), a prominent Japanese company, has announced the successful completion of operational preparations for the first phase of its 90,000-ton-per-year polyoxymethylene (POM) production facility at DaHokuetsu Engineering Plastics (Nantong) Co., Ltd. in Nantong, China. The facility is expected to commence commercial operations at the end of…
INEOS Restructures Operations: Sells Composites Business, Closes Plants
December 9, 2024 – In a significant strategic move, global chemical giant INEOS has announced a formal agreement with renowned private equity firm KPS to sell its entire composites business division. The transaction, valued at approximately 1.7 billion euros, is expected to be smoothly completed in the first half of 2025. INEOS’ composites business encompasses…
Tosoh Strengthens Market Position with Nanyang Factory Expansion for HDI Derivatives
December 6, 2024 – Tosoh Expands Factory to Boost HDI Derivative Production Capacity Tosoh, a leading Japanese chemical company, has announced plans to expand its Nanyang factory located in Chunan City, Yamaguchi Prefecture. The expansion aims to enhance the production capacity of hexamethylene diisocyanate (HDI) derivatives. Upon completion, the factory’s annual HDI production capacity is…
Alpla Expands Global Footprint with PET Recycling Investment in South Africa
December 6, 2024 – Austrian Packaging Giant Alpla Takes Major Step in South Africa with PET Recycling Plant Launch In a significant move for the packaging industry, Austrian manufacturer Alpla has opened its first PET recycling plant in South Africa, located in Ballito, KwaZulu-Natal. The factory, spanning 90,000 square meters and with a total investment…
Market Changes Lead to Termination of Shuangjian-Fuqisen Merger
December 5, 2024 – Wuhan Shuangjian New Material Co., Ltd. (hereinafter referred to as “Shuangjian New Material”) has recently issued an “Announcement on the Termination of Major Asset Restructuring,” announcing the termination of its previously planned major asset restructuring to acquire a 100% stake in Jiangsu Fuqisen Co., Ltd. (hereinafter referred to as “Fuqisen”). Looking…
Adnoc’s Bold Move: Majority Stake in Covestro Reshapes Industry Dynamics
December 5, 2024 – Adnoc Makes Significant Stride in Global Chemical Industry with Covestro Acquisition In a groundbreaking move, the Arabian Petroleum Company (Adnoc) has announced the successful acquisition of a majority stake in German polymer giant Covestro, marking a pivotal step towards joining the ranks of the world’s top chemical alliances. By the end…
Major Deal: Dow Chemical Offloads Soft Packaging Adhesive Biz to Arkema
December 4, 2024 – Dow Chemical Completes $150 Million Sale of Soft Packaging Adhesive Business to Arkema Global chemical giant Dow Chemical has announced the successful completion of the sale of its soft packaging composite adhesive business, part of its Packaging & Specialty Plastics division, to Arkema, a leading player in the global specialty materials…
Breakthrough at Tianjin Petrochemical: New High Melt Index PE Product Launched
December 3, 2024 – Tianjin Petrochemical has announced a significant breakthrough in the domestic polyethylene market with the successful development and inaugural production of PE-L H2799D, a new polyethylene product boasting the highest melt index in China. This remarkable achievement, with a melt index surpassing 150 grams per 10 minutes, not only fills a gap…
The Struggle for Sustainable Recycling in Southeast Asia
December 2, 2024 – Southeast Asia Grapples with Plastic Pollution Amid Recycling Challenges Southeast Asia is in the spotlight due to its pressing plastic pollution issue. The region’s lack of recycling infrastructure has become a major bottleneck in handling the massive influx of waste from developed countries. A 2023 study revealed that Indonesia, the Philippines,…
Struggling with Plastic Restrictions, Taiwan Postpones Comprehensive Ban to 2030
December 2, 2024 – Taiwan’s Environmental Authorities Admit Challenges in Achieving Plastic Restriction Goals In a recent public statement, Peng Qiming, the head of Taiwan’s environmental authorities, acknowledged that the ambitious goal of implementing a comprehensive plastic restriction by 2025 “may be difficult to achieve.” This admission has sparked widespread concern across various sectors of…