HotNews
US Postpones Final Ruling on Chinese Epoxy Resins Anti-Dumping Case
December 12, 2024 – US Department of Commerce Postpones Final Ruling on Epoxy Resins Anti-Dumping Case from China to March 2025 The US Department of Commerce has recently announced a postponement of the final ruling date for the Less Than Fair Value (LTFV) case, concerning imports of certain epoxy resins from China, to March 28,…
Sustainable Strength: Covestro and Selena’s New Bio-Based Bricklaying Solution
December 12, 2024 – Covestro and the Polish Selena Group have once again collaborated to launch an innovative product: Tytan Professional® Bricklaying Adhesive. This adhesive harnesses Covestro’s bio-based MDI (diphenylmethane diisocyanate) technology, specifically its Desmodur® CQ MB series. Notably, the plant-based raw materials used have secured ISCC Plus certification, and the product excels in environmental…
Environmental Backlash Against Coca-Cola’s Changing Commitments
December 9, 2024 – Coca-Cola Faces Backlash Over Shifting Environmental Commitments Global beverage giant Coca-Cola has recently come under fire from environmental activists, who have labeled the company a “greenwasher” amid allegations that it has quietly abandoned its previous goal of achieving 25% reusable packaging by 2030. This accusation has sparked widespread public doubt about…
Financial Woes Force Lotte Chemical to Halt Yeosu Facilities
December 9, 2024 – In a recent announcement, Lotte Chemical Corporation of South Korea has revealed that due to ongoing financial difficulties and a challenging market environment, it will indefinitely suspend operations at some of its petrochemical complex facilities in Yeosu. This shutdown will affect the second plant, including production lines for PET, ethylene glycol…
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…