PRA News

Rio de Janeiro-based Petroleo Brasileiro SA, or Petrobras, is reportedly reconsidering its decision to sell its shares in Brazilian petrochemicals firm Braskem, and could even double its stake in the company it views as a natural hedge for oil prices. Petrobras is reassessing its petrochemicals strategy after having placed its…

Germany’s Evonik Industries and Jiangsu Zhongneng Polysilicon Technology Development Co. Ltd., a wholly owned subsidiary of GCL-Poly Energy Holdings Limited (GCL-Poly), have established a joint venture for the production of fumed silica and ultra-pure silicon tetrachloride in China. Evonik will hold a 60% share in the joint venture. The plant,…

Against the reports of state oil giant Aramco’s IPO being called off Saudi Arabia’s energy minister has denied a Reuters report, in a statement. “The government remains committed to the initial public offering of Saudi Aramco, in accordance with the appropriate circumstances and appropriate time chosen by the Government,” Energy…

LyondellBasell, one of the world’s largest plastics, chemicals and refining companies, has officially broken ground on what will be the largest propylene oxide (PO) and tertiary butyl alcohol (TBA) plant ever built. The project in the Houston area, US, is estimated to cost US$2.4 billion, representing the single-largest capital investment…

German packaging companies Anton Debatin and Riba have established a new joint enterprise that is to operate under the name Deriba Group. Total sales generated by the new entity, which will employ a workforce of 400, amount to more than EUR100 million. The ties between the companies were already close. By joining forces in…

Materials company LyondellBasell has completed the acquisition of A. Schulman, a US-based supplier of plastic compounds, composites and powders, for US$2.25 billion creating what is said to be the world’s largest compounding business. “This acquisition builds upon our complementary strengths, creating a substantial value proposition for our customers and positioning the company for…

Singapore-headquartered Mitsui Elastomers Singapore, a wholly owned subsidiary of Mitsui Chemicals, is set to raise its production capacity for Tafmer high-performance elastomers, a resin modifier and soft moulding material. At the facility in Jurong Island, the firm will increase capacity from 200,000 to 225,000 tonnes/year by 2020. Both flexible and…

Luxembourg-based flexible foams and insulation supplier Armacell has acquired Guarto SRL, an Italian manufacturer of acoustic insulation solutions, and Guangdong De Xu Insulation Materials Co. Ltd, the producer of Sinoflex flexible elastomeric insulation foams in China. Terms for both purchases were not disclosed. Founded in 1966, Guarto is engaged in…

Singapore’s medtech manufacturing sector is important for the country, having generated S$11.3 billion in 2016, said Dr Koh Poh Koon, Senior Minister of State for Trade & Industry, at the opening of the Medical Fair Asia show recently in Singapore. This was affirmed by Philip Kia, Deputy Chairman of Singapore…

Styrenics maker Ineos Styrolution has signed an acquisition agreement with French firm Total for two polystyrene (PS) production sites in China. The deal includes the purchase of the wholly owned Chinese PS business including two production sites in Ningbo and Foshan and two related offices in Guangzhou and Shanghai. The…