MOSCOW (MRC) -- Clariant, a world leader in specialty chemicals, has announced that its Business Unit Industrial & Consumer Specialties (BU ICS) has completed the acquisition of the de-icing specialist Aerochem AB, a privately-owned company based in Stockholm, Sweden, as per the company's press release.
Centrally located within the Nordic region Aerochem has a leading market position in supplying de-icing fluids to the aviation and railway industries in Sweden, Norway and Denmark. The company reported average sales of CHF 20 Mio at accretive profitability for Clariant.
Financial details of the acquisition are not being disclosed.
Since 2008, Aerochem has been Clariant’s exclusive partner for selling aircraft de-icing fluids (ADF) to customers in the Nordic market, amongst them the airports of Stockholm, Oslo and Copenhagen. The company offers its customers a total service concept from manufacturing to on-time deliveries.
Clariant’s BU ICS has a leading position in the aviation industry in Europe and North America serving airports via airlines, ground handling companies and airport operators responsible for aircraft and runway de-icing operations. "The acquisition is in line with our growth and sustainability strategy", said Hariolf Kottmann, CEO of Clariant. "Aerochem offers access to the attractive de-icing markets in the Nordics and provides an excellent platform for our activities in recycling of aircraft de-icing fluids in Europe."
Michael Willome, Head of BU ICS, said: "This acquisition puts our aviation business in a position to move one step forward in the value chain in the Nordics and to enhance our position in this sector with direct market access to our local customers."
We remind that, as MRC reported earlier, last summer Clariant announced that their new Ziegler-Natta (ZN) polypropylene catalyst plant in Louisville, Kentucky, is on schedule to begin production in 2015.
Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints.
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MOSCOW (MRC) -- PPG Industries announced that David B. Navikas, senior vice president, strategic planning and corporate development, will retire effective March 1, said the company in its press release.
"PPG has benefited greatly from David’s deep knowledge of our company’s strategic priorities and financial framework," said Charles E. Bunch, PPG chairman and chief executive officer. "He has been a key leader in driving the growth and transformation of our coatings business portfolio through his functional leadership and as a member of our executive and operating committees."
Navikas joined PPG as controller in 1995 and was elected vice president in 2000. In June 2011 he was appointed senior vice president, finance, and chief financial officer, and he has held his current senior leadership role since August 2013. Navikas came to PPG after a 22-year career with accounting firm Deloitte & Touche LLP, where he was a partner and professional practice director of the Pittsburgh office.
As MRC wrote before, U.S. chemicals maker PPG Industries Inc had formally finalized its acquisition of Mexican paints maker Consorcio Comex for USD2.3 billion. The Pittsburgh-based PPG Industries said it had received a favorable ruling from Mexico's competition watchdog to complete the purchase, which came after the Mexican company's deal to sell to U.S. rival Sherwin-Williams Co fell through.
PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. Performance Coatings, Industrial Coatings and Architectural Coatings- EMEA segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum
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MOSCOW (MRC) -- Formosa Plastics plans to build a monoethylene glycol (MEG) plant and another polyethylene (PE) unit at its Point Comfort complex in Texas, according to air-permit applications, as per Plastemart.
The initial pages of the applications do not list the capacity of the plants or the grade of the PE. Construction on the second PE plant should start in Q4-2015, and it should start operations in December 2017. Construction on the MEG plant should start in November 2015, and operations should start in September 2017.
While Formosa will build and operate the MEG plant, it will be owned by Nan Ya, a polyethylene terephthalate (PET) producer that is part of Formosa Plastics Group (Taiwan).
The PE plant would be the second new one that Formosa plans to build at Point Comfort.
As MRC reported earlier, the company has already started construction on a low-density polyethylene (LDPE) plant at Point Comfort as well as an ethane cracker and a propane dehydrogenation (PDH) unit.
Formosa Petrochemical is involved primarily in the business of refining crude oil, selling refined petroleum products and producing and selling olefins (including ethylene, propylene, butadiene and BTX) from its naphtha cracking operations. Formosa Petrochemical is also the largest olefins producer in Taiwan and its olefins products are mostly sold to companies within the Formosa Group. Among the company's chemical products are paraxylene (PX), phenyl ethylene, acetone and pure terephthalic acid (PTA). The company's plastic products include acrylonitrile butadiene styrene (ABS) resins, polystyrene (PS), polypropylene (PP) and panlite (PC).
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