Solvay strengthens partnership with Chinese venture capital fund Longwater Investment

Solvay strengthens partnership with Chinese venture capital fund Longwater Investment

Solvay Ventures, the Company’s venture capital fund unit, is extending its partnership with Longwater Investment by investing in the Longwater Advanced Materials Fund II, a fund focused on advanced materials and chemistry-related technologies in China, said the company.

This investment will support innovation in new and sustainable chemistries that can be used in key markets such as transportation, electronics and smart devices. It will foster collaboration between Solvay and a growing ecosystem of startups in China, opening the door to innovative partnerships in advanced materials and chemical solutions that will boost Solvay’s offering and support the work of the Group’s four strategic growth platforms.

"We are excited to work with partners in China by leveraging our unique materials know-how and innovation in this dynamic start-up ecosystem,” said Mike Finelli, President of Solvay Growth Initiatives. “Following our announcement in June of a significant production capacity increase for PVDF at our Changshu site in China, this investment further illustrates our commitment to growing our operations in Asia and to meeting the need for sustainable material solutions globally."

"Solvay has been more than a fund investor to Longwater since the inception of our first fund. We are excited about the continuous commitment from Solvay to our Fund II and a strengthening partnership around our activities looking for thrilling innovations in relation to advanced materials and chemistry-related technologies.” said Steven Shi, Managing Partner of Longwater Investment.

Based in Shanghai, Longwater Investment executes and manages its investments with the aim of achieving successful growth and investment return driven by technological innovation, industrial upgrades and the improvement of human well-being.

As per MRC, Solvay has started works related to expansion plans that include installing equipment to increase sulfone polymers capacity at its plant in Marietta, Ohio, according to a mid-May publication by the USW Oil Workers union.

We also remind that in August, 2020, through the acquisition of the Solvay polyamide (PA) business, BASF enhanced its R&D capabilities in Asia Pacific with new technologies, technical expertise, and upgraded material and part testing services. BASF is planning to integrate the R&D centers from Solvay into its R&D existing facilities in Shanghai, China, and Seoul, Korea. The enhanced capabilities will boost BASF’s position as a solution provider to develop advanced material solutions for key industries.

Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 24,100 employees in 64 countries, Solvay bonds people, ideas and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet plan crafted around three pillars: protecting the climate, preserving resources and fostering better life. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. Founded in 1863, Solvay today ranks among the world’s top three companies for the vast majority of its activities.
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Solvay to deliver record Q2 2022 results well ahead of expectations

Solvay to deliver record Q2 2022 results well ahead of expectations

Based on unaudited preliminary figures, Solvay announces that it expects to report net sales of around EUR3.4 to 3.5 billion and underlying EBITDA of EUR855 to €865 million for the second quarter of 2022, said the company.

The performance in the quarter was driven by both volume and pricing, helping to overcome variable cost inflation. All three segments of Materials, Solutions, and Chemicals contributed to the strong results.

Following the stronger than expected results, Solvay plans to increase its full-year 2022 guidance on July 28, 2022 when it releases its full second quarter earnings results. The increase in full year guidance will reflect a combination of confidence in short term trading momentum and potential risks associated with the uncertain macro environment.

As per MRC, Solvay has started works related to expansion plans that include installing equipment to increase sulfone polymers capacity at its plant in Marietta, Ohio, according to a mid-May publication by the USW Oil Workers union.

We also remind that in August, 2020, through the acquisition of the Solvay polyamide (PA) business, BASF enhanced its R&D capabilities in Asia Pacific with new technologies, technical expertise, and upgraded material and part testing services. BASF is planning to integrate the R&D centers from Solvay into its R&D existing facilities in Shanghai, China, and Seoul, Korea. The enhanced capabilities will boost BASF’s position as a solution provider to develop advanced material solutions for key industries.

Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 24,100 employees in 64 countries, Solvay bonds people, ideas and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet plan crafted around three pillars: protecting the climate, preserving resources and fostering better life. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. Founded in 1863, Solvay today ranks among the world’s top three companies for the vast majority of its activities.
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Azelis acquired 100% of the shares of Chemical Solution

Azelis acquired 100% of the shares of Chemical Solution

Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry, announces that it has reached an agreement to acquire 100% of the shares of Chemical Solutions Sdn Bhd (“ChemSol”), one of the leading distributors of raw materials in the Personal Care, Cosmetics and Household markets in Malaysia, said the company.

The acquisition strengthens Azelis’ presence in the domestic market, further reinforcing the group’s in-depth coverage of the Asia Pacific region. The addition of ChemSol’s extensive and well known product portfolio, specifically in actives and functional ingredients, significantly expands Azelis’ lateral value chain for the local Personal Care market. With this acquisition, Azelis is ideally placed to benefit from the growing Personal Care market in Malaysia, especially in the attractive Halal cosmetic industry.

Founded in 2001, ChemSol’s 21 years in the Malaysian market enabled the establishment of a strong network of customers, with the support of globally renowned principals, from its headquarters in Shah Alam. With a dedicated Personal Care application laboratory, ChemSol is well-positioned to provide innovative solutions to its partners. Chemsol’s full team of employees will become part of the Azelis family, supporting the business and the integration process. The transaction is expected to close before the end of the third quarter, after fulfilment of customary closing conditions.

As per MRC, Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry, announces that it has signed an agreement to acquire the specialty lubricant (L&MWF1 ) distribution assets of Ak-tas in Turkey.

As per MRC, Azelis announces that it has reached an agreement to acquire Chemo India and Unipharm Laboratories’ distribution assets. Both companies are renowned local distributors of specialty chemicals and ingredients for the CASE (coatings, adhesives, sealants, elastomers), L&MWF (lubricants & metalworking fluids) and pharmaceutical market segments in India.
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BASF develops technology to remove pyrolysis oil contaminants

BASF develops technology to remove pyrolysis oil contaminants

BASF has introduced products for the purification of complex pyrolysis oils from plastics waste - though also with potential applications in tire recycling, said the company.

The Gerrnan group’s PuriCycle catalysts and adsorbents selectively remove or convert contaminants in the oils that occur as secondary raw materials in chemical plastics recycling. The products, said BASF, enable closed-loop, downstream processing of plastics, helping recyclers to meet industry standards for the composition of pyrolysis oils.

This, stated the chemicals maker, allows “highly efficient” cleaning and processing of the process streams, as well as greater flexibility in chemical plastics recycling. After treatment, pyrolysis oils can be fed back in at the beginning of the value-chain for the production of polymers, said BASF.

The group went on to describe pyrolysis oil purification as “one of the most demanding challenges” in chemical plastics recycling. Impurities such as halogen, nitrogen, oxygen, and sulphur compounds, as well as reactive components such as dienes, can make downstream use more difficult, it explained

The chemical composition also significantly limits the possibilities for further processing of these product streams in the production of new materials, it added. Asked if the technology can be applied to rubber/tire pyrolysis, BASF informed ERJ that certain PuriCycle adsorbents 'could be used in tire-based feeds.'

As per MRC, BASF and Sinopec are further expanding their joint Verbund site in Nanjing, China. It is manufactured by BASF-YPC Co., Ltd. (BASF-YPC), a 50:50 joint venture between the two companies. The capacities of several downstream chemical plants will be expanded for the growing Chinese market. This also includes the construction of a new tertiary butyl acrylate plant.

As per MRC, BASF completed a double-digit million euro investment to increase production capacity for Tinopal CBS optical brighteners at its Monthey site. Following phase one of the stepwise capacity increase in 2021, the recent completion of the investment program has now brought significantly increased capacity on stream to meet growing global customer demand.

BASF is the leading chemical company. It produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.
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Huntsman starts commercial operation of new splitter in Geismar

Huntsman starts commercial operation of new splitter in Geismar

Huntsman Corporation announced the start of commercial operation of a new methylene diphenyl diisocyanate (MDI) splitter at its Geismar site in Louisiana, said the company.

The USD180 million splitter gives Huntsman the ability to produce more high value, differentiated grades from the crude MDI manufactured at the plant, thereby enabling growth in key customer applications. "The new splitter reinforces our strategy of delivering value over volume by creating a more differentiated product portfolio,” said Tony Hankins, President of Huntsman’s Polyurethanes division. “It enables us to provide our customers in automotive, furniture, construction, adhesives and coatings markets with more options for innovative, sustainable polyurethanes products."

The completion of the MDI splitter project was celebrated at a special event on Wednesday, July 13, at the Geismar facility hosted by Huntsman Chairman, President and CEO, Peter Huntsman. Guests included Attorney General of Louisiana Jeff Landry, local officials, key customers, suppliers, members of Huntsman’s senior leadership team, and Geismar employees.

Speaking at the event, Jan Buberl, Polyurethanes’ Vice President for the Americas region said “Our new splitter bridges the gap between our upstream MDI manufacturing assets and the downstream needs of our customers – both domestic and international. Our mission is to deliver what our customers need to help them innovate and grow. This investment will strengthen our ability to meet, and exceed, those expectations."

Mark Dearman, Site Leader at Geismar, recognized the hard work of the many people associated with the project. “Our thanks go to our construction partners, suppliers and every associate and contractor involved in the new splitter,” he said. “Even without factoring in the additional health and safety measures we needed to put in place for COVID, and the extreme weather events such as Hurricane Ida, the construction of a new splitter is a major undertaking. The project was completed on time, incident free, demonstrating Huntsman’s focus and commitment to safe working practices."

As per MRC, Huntsman announced that it has launched a new range of low-emission MDI-based foam systems for automotive interiors. The ACOUSTIFLEX LE and RUBIFLEX® LE polyurethane product lines. These innovative technologies allow global automotive formulators and foam manufacturers to produce high-performance polyurethane foams, while significantly reducing interior emissions levels to meet OEMs’ requirements.

Also, Huntsman is expanding its performance products facility in Petfurdo, Hungary. The multimillion-dollar investment project will expand capacity for polyurethane (PU) catalysts and specialty amines, scheduled for completion in mid-2023.

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2020 revenues of approximately USD6 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets.
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