Clariant acquired Sud-Chemie

(Clariant) -- Clariant, a world leader in specialty chemicals, today announced that it has completed the purchase of 96.15% of the shares in Sud-Chemie from One Equity Partners and the family shareholders.

Clariant will make a public offer to acquire the outstanding shares from Sud-Chemie minority shareholders. The overall transaction value amounts to approx. EUR 1.9 billion (CHF 2.5 billion).
⌠This transaction is an important milestone in Clariant's history. Following the successful completion of our restructuring in 2010, the acquisition of Sud-Chemie accelerates our strategy of profitable growth, said Hariolf Kottmann, CEO of Clariant. ⌠Together we will now start the integration process to successfully integrate Sud-Chemie into Clariant, Kottmann added.

By acquiring leading positions in the fields of process catalysts and adsorbent agents, Clariant is expanding its portfolio with two fast-growing business-units. Sud-Chemie also has a strong research and development organization focusing on market segments with significant growth potential.


The USD 500 mln Gulf of Mexico Research Initiative is funded by BP

(BP) -- BP and the Gulf of Mexico Alliance announced that the independent Research Board of the Gulf of Mexico Research Initiative (GRI) has released its Request for Proposals for studies into the effects of the Deepwater Horizon incident and the potential associated impact on the environment and public health. The USD 500 million GRI is funded by BP and administered by the Gulf of Mexico Alliance.

The independent Research Board of the GRI has created a selection process that includes an open Request for Proposals, peer review of the submissions, selection of the Research Consortia to study the five research themes, and award of funds during the summer of 2011.


Taiwan's Ministry of Economic Affairs to take steps for sustainable development of petrochemistry

(Plastemart) -- After the Kuokang Petrochemical complex faces near-abandonment in Taiwan, the Ministry of Economic Affairs (MOEA) plans to take steps to ensure sustainable development of the country's petrochemical industry. The Ministry has been urged to find alternative sites for the Kuokuang petrochemical complex originally to be constructed on reclaimed land in Changhua, due to controversy over the project's environmental impact. Priority will be given to helping local firms cut carbon emissions, upgrade their manufacturing facilities, adopt the most advanced technology and pursue higher value products through R&D efforts.


QAPCO to launch LDPE-3 in the first quarter of 2012

(Plastemart) -- QAPCO's new low density polyethylene (LDPE-3) plant will have its commercial launch in the first quarter of 2012. To be located at Mesaieed, the new plant will have a capacity to produce 300 KTa LDPE. With this, Qapco will become one of the major low-density polyethylene producers in the world. Qapco's two existing lines - LDPE 1 & 2 have production capacity of over 400 KTa.


Saudi Aramco to double refining capacity

(Arabian Oil and Gas) -- Saudi Aramco is expected to increase its domestic and global refining capacity by 50% to more than 6 million barrels per day, according to Khalid Al-Falih, CEO of Saudi Aramco. Speaking at the Korean Chamber of Commerce in Seoul, Al-Falih said that this growth will be achieved through two new refineries under construction in Saudi Arabia.

He said that four grassroots refineries were under consideration with one being in Jaizan on the southwest coast of the Kingdom and three other joint venture refining projects in China, Vietnam and Indonesia respectively.

He also said that in five years, Saudi Aramco's natural gas capacity will exceed 15 billion standard cubic feet per day, adding that his company is spending a total capital budget of USD 125 billion on local and international projects.