PRA News

Composites solutions provider Barrday and French materials maker Arkema have set up a joint venture to manufacture and market carbon fibre and specialty polymer tapes for the growing oil and gas industrial market. The new venture to be named Barrflex TU will supply thermoplastic composite solutions to the various players of the oil and…

Italian chemical maker Versalis (Eni) has bought bankrupt firm Mossi & Ghisolfi (M&G)’s ”green” activities, based on the use of renewable resources, of the four companies Biochemtex, Beta Renewables, Ipb (Italian Bio Products) and Ipb energia. Though no financial details were given, news agency Reuters said the deal had cost Versalis more…

It’s been a difficult year for the oil and gas industry but things are looking up, with the Brent oil price averaging at about US$70 from US$54 the previous year. As of September, there are 20 oil rigs in operation on Malaysian waters, five more than the year before. Nevertheless,…

US-headquartered extrusion machinery firm Davis-Standard is installing its fourth CNC machining centre at its facility in Pawcatuck, Connecticut, to support ongoing growth in feedscrew manufacturing. The US$2 million investment will further boost production efficiency and will enable Davis-Standard to increase feedscrew production by over 25%. The machining centre is expected…

Bulk materials handling solutions provider Schenck Process Group has acquired Process Components Ltd (PCL) and its subsidiaries – including Kemutec Group Inc. in the US – with its well-known brands kemutec, KEK-GARDNER, mucon and PPS Air Classifier Mills, from EPIC Private Equity. Terms were not disclosed. PCL is a UK-based designer and…

German materials supplier Covestro plans to invest US$12 million to expand MDI capacity at its plant in Shanghai. The Leverkusen-based company says that capacity for MDI at the Shanghai facility will rise by 100,000 tonnes/year, from 500,000 tonnes/year to total 600,000 tonnes/year. Its monomer MDI capacity will go up by 50,000 tonnes…

Ineos Oxide’s Antwerp site in Belgium was the first to be acquired by Ineos in 1998 almost 20 years ago. From this one site Ineos says it has grown to become a global leader in petrochemicals, with interests in more than 170 sites employing 20,000 people, generating sales of around…

Chemical distributor Univar Inc is to acquire smaller rival Nexeo Solutions Inc for about US$2 billion in a cash-and-stock deal to expand its presence in North America. Univar also said it will evaluate alternatives for Nexeo’s plastics business, including a divestiture. The business accounted for half of Nexeo’s total revenue…

Thai chemicals firm PTT Global Chemical (PTTGC) has signed a purchase agreement to acquire a 74% stake in Siam Mitsui PTA Co, a producer of purified terephthalic acid (PTA), and a 74% share in Thai PET Resin Co, a producer of polyethylene terephthalate (PET) resin, from SCG Chemicals and Mitsui Chemicals for…

Chinese automotive parts supplier Jiye Auto Parts has acquired a strategic majority share in German parts manufacturer Grammer AG. In a statement, Grammer said that Jiye Auto Parts, a company associated with Chinese automotive supplier Ningbo Jifeng and Grammer’s strategic partner, said that 48.45% of Grammer’s shareholders had accepted Jiye’s…