Sherwin-Williams to acquire Gross & Perthun

The Sherwin-Williams Company announced an agreement to acquire Gross & Perthun GmbH, a Mannheim, Germany based developer, manufacturer, and distributor of coatings primarily for the heavy equipment and transportation industries, said the company.

The acquired business has approximately 100 employees and annual sales of approximately USD50 million, and will become part of the Sherwin-Williams Performance Coatings Group reportable segment. The transaction is expected to close by the end of the third quarter of 2022.

"This high-quality business brings us innovative waterborne and solvent liquid coatings technology, leading specification and approval positions, strong relationships with multi-national and local customers, strategically located manufacturing, and an outstanding commercial and technical team focused on delivering innovative and value-added solutions," said Sherwin-Williams Chairman and Chief Executive Officer, John G. Morikis. "The combination of our businesses provides multiple opportunities to accelerate profitable growth throughout Europe and beyond. We look forward to welcoming the talented employees of this excellent business to the Sherwin-Williams family upon the close of the transaction."

As per MRC, Sherwin-Williams Company (SHW) lowered its net sales guidance for the third quarter of 2021, while keeping its full-year net sales and net income per share view unchanged. The company lowered its third-quarter consolidated net sales guidance to be up or down by a low-single digit percentage over third-quarter 2020 from its prior view of up mid-to-high single digit percentage. The full-year 2021 consolidated net sales guidance remains unchanged at up a high-single to low-double digit percentage over 2020 levels.
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Evonik can better serve all global customers and improve its supply position. Increasing the manufacturing capacity for TEGOSOFT MM MB with a second site also enables Evonik to better cater to the increasing market demand for enzymatic-produced emollient esters in the Asia Pacificsaid the company.

This development underlines Evonik’s consistent commitment to enhance the availability of products according to RSPO (Roundtable on Sustainable Palm Oil) mass balance supply chain, a crucial step to the path of achieving its sustainability vision.

"Asia Pacific is a strong driving force for our personal care business growth. The increased global production network promotes supply chain agility and availability of low-carbon solutions which are of great importance to our customers within the region,” says Madeline Tan, regional business director in Asia North for Evonik’s Care Solutions business line. “We are looking to further support the local personal care industry with many products and technologies to help us reach our sustainability goals."

TEGOSOFT MM MB, produced in Shanghai by enzymatic esterification based on 100% renewable energy, maintains the same strict product quality and properties as that produced in Evonik’s site in Duisburg, Germany, for many years. This approach delivers a significant reduction of carbon footprint in cosmetic formulations, hence its environmental impact converges with the macrotrend in the beauty industry, where many cosmetic producers in Asia Pacific are pursuing a more ethical, environmentally friendly and sustainable portfolio with less CO2 emissions.

Enzymatic esterification is a prime example of green chemistry process to produce emollient esters. This eco-efficient biocatalytic synthesis, which runs on renewable energy, possesses an enormous advancement in waste prevention. Furthermore, it leads to an improved and positive impact on reducing global warming by nearly 100% lower CO2 footprint compared to conventional chemical production procedures, as evaluated by standardized Life Cycle Assessment (LCA) on Myristyl Myristate.

As one of Evonik’s two manufacturing sites worldwide adopting state-of-the-art technologies to manufacture enzymatic esters for cosmetic formulations, the Care Solutions organics plant located in Shanghai Chemical Industry Park (SCIP) has been fully reliant on renewable energy sources to support its operation since 2020.

The use of certified raw materials according to the rules set out by the RSPO Mass Balance Supply Chain Model highlights another sustainable attribute of TEGOSOFT MM MB. Compared to non-RSPO certified feedstock, it has an improved impact on global warming with a 68% lower CO2 footprint, allowing local cosmetic brands to meet their ambition to use certified, sustainable palm oil-based products and reduce carbon in their value chain.

As per MRC, Evonik, one the world's petrochemical majors, is embarking on the next phase of its strategic transformation. Sustainability is being integrated fully and systematically into all elements of the strategy: portfolio management, innovation, corporate culture.

We remind that in February, 2020, Dow and Evonik entered into an exclusive technology partnership. Together, they plan to bring a unique method for directly synthesizing propylene glycol (PG) from propylene and hydrogen peroxide to market maturity.

Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of EUR12.2 billion and an operating profit (adjusted EBITDA) of EUR1.91 billion in 2020. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers. About 33,000 employees work together for a common purpose: to improve life today and tomorrow.
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SarawakTechnip En-ergies and Ocikumho, a joint venture of OCIM and Kumho P&B Chemicals, has signed a license agreement for a new Epicerol unit in Malaysia, for the production of epichlorohydrin (ECH), said Apic-Online.

The plant, to be built in Sarawak, will produce 100,000 t/y of ECH from glycerin to meet growing demand. Value of the contract and an expected completion date were not disclosed.

Ocikumho's Epicerol unit will be integrated into a new processing complex using electricity from hydro power. The company will be the first to manufacture ECH in Malaysia, Technip Energies noted.

Epicerol offers a cost-effective process with a reduced carbon footprint compared to traditional propylene-based ECH, said Bhaskar Patel, senior vice president, sustainable fuels, chemicals and circularity at Technip Energies.

This breakthrough technology produces no waste water, fewer emissions, effluents and harmful by-products, making it one of the most environmentally friendly processes possible.

As per MRC, Technip Energies and Alterra Energy have now entered into a global joint development and collaboration agreement to integrate Technip Energies’ pyrolysis oil purification technology with Alterra’s commercially available liquefaction process technology. By integrating both their proprietary processes, the two companies aim to accelerate the adoption of recycled feedstock, thus improving circular economy solutions for the global petrochemical industry. The combination of advanced recycling and purification technologies will enable more efficient processing and reuse of hard-to-recycle plastic.

As per MRC, TechnipFMC announced the launch of the placement of 16 million Technip Energies shares, representing ca. 9% of Technip Energies’ issued and outstanding share capital, through a private placement by way of an accelerated bookbuild offering. Upon completion of the Placement, TechnipFMC would retain a direct stake of ca. 22% of Technip Energies’ issued and outstanding share capital.
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Toyo Engineering has won a contract from Japan's Ministry of Economy, Trade and Industry (METI) to begin a feasibility study for green ammonia production in Indonesia, under a collaboration with Pupuk Indonesia Holding (PIHC) and Pupuk Iskandar Muda (PIM), a subsidiary of PIHC, said Apic-online.

Toyo will study the feasibility of green ammonia production at PIM's exiting fertilizer plants, and plans to develop a competitive green ammonia production plant by modifying the existing facility in the most optimum way, and selecting a renewable energy power source, Toyo noted.

As per MRC, Toyo Engineering and SCG Chemicals in Thailand entered into a MOU relating to the joint collaboration for improving the process of turning mixed post-consumer plastics into recycled feedstock for petrochemical businesses.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.
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Mumbai Birla Carbon announced global growth plans that include expanding carbon black capacity across strategic markets in Europe, India and China in support of both rubber and specialty applications, said Apic Online.

The company will expand carbon black capacity in India by 80,000 t/y, in Hungary by 40,000 t/y and in China by 80,000 t/y aligned with customer growth plans. It will also be adding capacity for surface treatment of high-value specialty materials in India.

Further expansions will continue to be evaluated in various locations in line with the company's purpose to Share the Strength, driven by customer needs, industry trends and Birla Carbon's aim to be the clear sustainability leader in the industry, Birla Carbon noted.

This investment marks yet another milestone in the transformational journey of Birla Carbon in recent times, said Dr. Santrupt B. Misra, group director of Birla Carbon, and director of chemicals and director of human resources for Aditya Birla Group.

From sustainability to circularity and finally, to its net zero carbon emissions aspiration, Birla Carbon has led changes in the industry, creating new benchmarks in line with customer and industry expectations.

As per MRC, state-owned Bharat Petroleum Corporation Ltd (BPCL) has discontinued all activities associated with the disinvestment of the company after the government dropped plans to privatise the firm for now. In a stock exchange filing, the company said the government has through a letter dated June 3, 2022, called off the present tender to sell its entire 53 per cent stake in the company.
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