EC approves Merck KGaA planned acquisition of Sigma-Aldrich

MOSCOW (MRC) -- Sigma-Aldrich Corporation announced it has secured final approval from the European Commission (EC) on the planned acquisition of Sigma-Aldrich by Merck KGaA, Darmstadt, Germany, said the company on its site.

The EC provided conditional approval of the acquisition on June 15, 2015, subject to approval of the divestment of certain Sigma-Aldrich assets. On October 20, 2015, Sigma-Aldrich announced an agreement to sell parts of its solvents and inorganics business to Honeywell. The EC has now approved Honeywell as a suitable buyer of the divestment business meaning all closing requirements have been met and the formal completion of the Sigma-Aldrich acquisition will take place on November 18.

On September 22, 2014, Merck and Sigma-Aldrich announced they had entered into a definitive agreement under which Merck will acquire Sigma-Aldrich for USD17 billion - $140 cash per share - establishing one of the leading players in the USD130 billion global life science industry.

Sigma-Aldrich manufactures and distributes 250,000 chemicals, biochemicals and other essential products to more than 1.4 million customers globally in research and applied labs as well as in industrial and commercial markets. With three distinct business units - Research, Applied and SAFC Commercial - Sigma-Aldrich is committed to enabling science to improve the quality of life. The Company operates in 37 countries, has approximately 9,700 employees worldwide and had sales of USD2.79 billion in 2014.

As MRC wrote before, by acquiring a majority stake in InnovationLab GmbH, Merck and BASF, the world's largest petrochemical producer, are increasing their involvement in order to continue the successful scientific work of the Heidelberg-based research and transfer platform for organic electronics in the Rhine-Neckar metropolitan region.

Merck KGaA is a German multinational chemical, pharmaceutical and life sciences company headquartered in Darmstadt, with around 40,000 employees in around 70 countries. Merck was founded in 1668 and is the world's oldest operating chemical and pharmaceutical company. Merck operates mainly in Europe, Africa, Asia, Oceania and Latin America. It has major research and development centres in Darmstadt, Boston, Tokyo and Beijing.
MRC

Nippon Shokubai Europe starts up new SAP/AA plant in Belgium

MOSCOW (MRC) -- Nippon Shokubai Co has announced that Nippon Shokubai Europe, a subsidiary in Belgium, held a groundbreaking ceremony for new superabsorbent polymer (SAP) plant and acrylic acid (AA) plant in its plant site in Antwerp, Belgium on November 10th, 2015, said the producer on its site.

Since SAP, one of Nippon Shokubai’s core businesses, shows steady growth of demand as a key material of disposable diapers, Nippon Shokubai decided the expansion of SAP and its main raw material, AA, as announced in May this year.

In Europe, Nippon Shokubai expects the steady demand of SAP especially in Central and Eastern Europe. Nippon Shokubai will ensure more stable supply after the investment of not only SAP but also its main raw material, AA.

With this new plant at NSE, Nippon Shokubai group’s global SAP production capacity will be 710,000 metric tons per year and Nippon Shokubai will enhance its position as one of the world top suppliers of SAP.

As MRC reported earlier, on June 27, 2015, JX Nippon Oil and Energy restarted the No.1 crude distillation unit (CDU) at its Kashima refinery in Japan. The 189,000 bpd CDU was shut on May 29, 2015 following a fire at the Kashima refinery. The Kashima refinery of JX Nippon has a crude processing capacity of 252,000 bpd.

Nippon Shokubai Co., Ltd. provides ethylene oxide, acrylic, superabsorbents, performance chemicals, and catalyst and green energy materials. It operates through three segments: Basic Chemicals, Functional Chemicals, and Environment & Catalysts.

Nippon Shokubai Europe N.V. manufactures chemical products. The Company offers a wide range of superabsorbent polymers such as acrylic acids and polyacrylates for diverse applications. Nippon Shokubai Europe conducts business worldwide.
MRC

Eni sells Slovenian downstream business to MOL

MOSCOW (MRC) -- Hungary-based MOL Group signed an agreement with Italian energy leader Eni for the acquisition of the entire share capital of Eni Slovenia doo., a company managing 17 Agip branded service stations in Slovenia, said the producer on its site.

The acquired retail network is a perfect match to MOL’s existing network and also provides growth for local wholesale activity, according to MOL officials.

MOL signed an agreement with Eni relating to the acquisition of Eni’s entire retail network and wholesale activities in Slovenia. The current deal includes 17 Agip branded service stations in Slovenia (including dealer-owned sites), which will strengthen MOL’s position among the top three retail network operators in the country.

The deal will complement MOL’s current Slovenian network of 40 stations and provides an opportunity to establish a retail presence in Ljubljana, the company said.

Closing of the transaction is subject to the fulfilment of certain condition precedents, including the competition clearance. "We are very glad that with this transaction we are strengthening our position in Slovenia and extending our coverage to the capital, Ljubljana," said Ferenc Horvath, executive vice president of MOL Group's downstream business.

"In the past 18 months we have announced the acquisition of around 450 service stations in the Czech Republic, Hungary, Romania, Slovakia and Slovenia," he added. "As a result, we are succeeding in significantly increasing our market share and ensuring further overall margin capture for our downstream business."

As MRC informed earlier, MOL Group’s newly-built plant processing butadiene, a key component for rubber manufacturing, is set to boost the company’s profit by as much as 10 billion forint (USD34 million) each year. The factory, built at a cost of 35 billion forint, will produce 130,000 metric tons of butadiene annually and will start full commercial operation this quarter.

MOL Hungarian Oil and Gas PLC is an integrated oil and gas company. The Company produces crude oil, petroleum products, bitumens, lubricants and natural gas. MOL owns and operates refineries, oil and gas pipelines, service stations, and natural gas storage facilities.

Eni is an Italian multinational oil and gas company headquartered in Rome. It has operations in in 79 countries, and is currently Italy's largest industrial company with a market capitalization of 68 billion euros (USD 90 billion), as of August 14, 2013. The Italian government owns a 30.3% golden share in the company, 3.93% held through the state Treasury and 26.37% held through the Cassa depositi e prestiti. Another 39.40% of the shares are held by BNP Paribas.
MRC

Marathon Petroleum raises cash portion of MarkWest offer

MOSCOW (MRC) -- Marathon Petroleum Corp raised the cash portion of its offer to buy MarkWest Energy Partners LP, the second-largest U.S. natural gas processor, by USD400 million to USD1.07 billion, said Reuters.

The company, which is buying MarkWest through its pipeline unit, MPLX LP, said it will now offer USD5.21 per unit in cash, up from the USD3.37 it offered in July.

Refiner Marathon Petroleum said in July it would buy MarkWest for USD15.6 billion in cash and stock, creating the fourth-largest master limited partnership. MarkWest unitholders will now get 1.09 MPLX units and $5.21 in cash per unit, translating to USD52.93 per unit.

The July offer had valued MarkWest at USD78.64 per unit. MPLX's shares had fallen nearly 30 percent through Tuesday's close since the deal was announced on July 13. Marathon Petroleum said on Tuesday it would also contribute about USD225 million to keep its 2 percent interest in the master limited partnership, MPLX.

Other terms of the deal remain unchanged, the company said.

The deal has been approved by the boards of Marathon, MPLX and MarkWest, the company said.

Marathon Petroleum Corporation is a United States based petroleum refining, marketing, and transportation company. The company was formed as a subsidiary on September 1, 2005, from the former Marathon Ashland Petroleum, LLC, and is based in Findlay, Ohio. Marathon Petroleum operated as a subsidiary of the Marathon Oil Corporation until becoming a standalone company on July 1, 2011.
MRC

Russian Stirolplast installs new Gabler thermoforming line

MOSCOW (MRC) -- Russian extruder and packaging thermoformer Stirolplast has installed a new German-supplied thermoforming line enabling it to expand its range of polypropylene containers for fresh food packaging?said Plasticsnewseurope.

The Moscow-based firm launched a new ‘Varius’ thermoforming line, supplied by Lubeck-based Gabler Thermoform, in September at its PoliER plant in Pereslavl, 120kms from the Russian capital. This will significantly increase the capacity for PP salad containers and packs for meat and poultry at the plant, the firm said.

Stirolplast extended its PP food container range with the introduction of a distinctive black pack base with a transparent lid. This container is made of PP-179 series in a 500 – 750ml size range.

In addition the firm, one of Russia’s leading flexible packaging producers, announced last month it had introduced a new range of universal clear barrier PET containers in 1,000, 1,250, 1,500 and 1,700ml volumes.

The company, which produces PP, polystyrene and PET packaging as well as turning out disposable tableware, operates eight extrusion lines from suppliers including Battenfeld Kuhne at the PoliER facility. The firm extrudes tapes from a variety of materials for thermoforming.

In addition, Stirolplast runs 23 thermoforming lines supplied by European machinery builders including Gabler, Illig and Kiefel with tooling from companies such as Bosch Sprang, Marbach and Termostampi.

The Russian processor maintains a monthly thermoforming production of more than 250 million units. Stirolplast serves customers in the CIS countries as well as Europe, besides the Russian domestic market.
MRC