Pilot Chemical names new CEO

Pilot Chemical Co. (Cincinnati, Ohio) CEO Mike Clark is retiring on Dec. 31 and joining the board of directors, the company announced earlier this month, as per Chemweek.

Clark, who has been CEO since 2022, will be succeeded by Christian MacIver, currently president and COO.

MacIver, who joined Pilot in early 2023, was previously vice president/global supply chain at Ingevity Corp. She is currently a member of the American Cleaning Institute’s board of directors.

“Christian is the perfect person to lead the company and to build upon the strong base that she and Mike have established,” said Paul Morrisroe, chairman of the board of directors.

Pilot is a privately owned producer of specialty surfactants.

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Ethylene prices edged lower in the Asian region last week, as per Polymerupdate.

A sluggish purchase momentum coupled with ample regional product availability contributed to the price fall. A drop in upstream energy values further supported the pricing downtrend.

On Friday, FOB Korea ethylene prices were assessed at the USD 745-755/mt levels while FOB Japan ethylene prices were assessed at the USD 740-750/mt levels, both lower by USD (-20/mt) from the previous week.

CFR North East Asia ethylene prices were assessed at the USD 780-790/mt levels while CFR South East Asia ethylene prices were assessed at the USD 775-785/mt levels, both declined by USD (-20/mt) from last week.

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Bhageria Industries Ltd. (Mumbai) announced that it has received consent to operate from the Maharashtra Pollution Control Board to produce new products, specifically plasticizers and ethoxylates acid, at its Tarapur Boisar Industrial site in Maharashtra State, as per Chemweek.

The move is aimed at catering to both domestic and international markets.

Bhageria aims to tap into the growing demand across various sectors, including polyvinyl chloride (PVC), cables, flooring, footwear and automotive. Plasticizers are essential additives that enhance the flexibility and durability of polymers, primarily PVC, thereby improving overall product performance, said the company. The expansion is expected to bolster the company's revenue and strengthen its market presence.

In addition to the new venture, Bhageria Industries recently announced plans to expand its h-acid production capacity at the same facility, increasing output from 400 metric tons per month to 500 metric tons per month.

Its product portfolio includes dye intermediates, pigments, pigment intermediates and dyestuffs.

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Solvay is taking a foundational step to translate global biodiversity goals into verifiable, local actions by launching a pilot of the IUCN RHINO (Rapid, High-Integrity, Nature-positive Outcomes) approach at its soda ash and sodium bicarbonate manufacturing site in Dombasle, France, as per Hydrocarbonprocessing.

This initiative is a direct outcome of Solvay's partnership with IUCN (International Union for the Conservation of Nature).

Solvay is one of six pioneers testing this rigorous, science-based framework, which aims to develop a replicable blueprint for effective biodiversity actions across global operations. The IUCN RHINO approach, by integrating the Species Threat Abatement and Restoration (STAR) metric, helps Solvay systematically screen site impacts, set evidence-based targets, and accurately measure contributions to species survival and ecosystem health.

The Dombasle site was selected for this pilot due to its existing biodiversity roadmap. This provides a crucial real-world laboratory to test and refine the IUCN RHINO approach. Furthermore, the site is undergoing a major sustainability transformation, including a significant energy transition project, the piloting of the e. Solvay process to reduce natural resource and energy consumption, cut CO2 emissions, and eliminate residues, as well as targeted water initiatives - making it the ideal hub for testing a comprehensive, replicable blueprint for biodiversity actions across Solvay’s wider network, particularly those sites associated with soda ash production.

Jean-Charles Djelalian, Solvay’s Chief Sustainability Officer, commented on the importance of this measured approach: "As a science-based company, we value expert insights that help us move from ambition to action. We are honored to pilot the RHINO approach and STAR metric in Dombasle, establishing a foundation of credible indicators and shared criteria to deliver tangible positive impacts for nature across our global operations. Our partnership with IUCN brings our strategy to the next level, in line with our commitment to allocate 30% of our land located near biodiversity-sensitive areas to support nature conservation and restoration by 2030."

The Dombasle roadmap details targeted, high-impact actions. These include defining SMART1 objectives for biodiversity gains, implementing compensatory measures like establishing ecological corridors, and prioritizing proactive management by eliminating ecological traps and potential environmental hazards. The plan involves comprehensive ecological inventories, a critical review of site initiatives that extend restoration efforts beyond regulations, the initiation of regional connectivity programs including invasive species management and actively exploring options to reduce the impact of discharged water.

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BASF and funds managed by global investment firm Carlyle, in partnership with Qatar Investment Authority (QIA), have entered into a binding agreement relating to BASF’s automotive OEM coatings, automotive refinish coatings and surface treatment businesses (BASF Coatings), as per Chemweek.

The enterprise value of the transaction amounts to €7.7 billion. Subject to customary regulatory approvals, the transaction is expected to close in Q2 2026. This transaction, together with the already closed divestiture of the decorative paints business, value BASF’s entire Coatings division at an enterprise value of €8.7 billion and an implied 2024 EV/EBITDA multiple before special items of approx. 13x. This represents a significant step in unlocking the value of BASF’s standalone businesses, as the company swiftly executes its Winning Ways strategy. BASF will also reinvest in the coatings business holding a 40% equity stake and will receive pre-tax cash proceeds of approx. €5.8 billion at closing of the transaction.

BASF Coatings is a global player in the development, production and marketing of innovative and sustainable automotive OEM and refinish coatings as well as applied surface treatments for metal, plastic and glass substrates in a wide range of industries. The business operates in Europe, North America, South America and Asia Pacific, and generated sales of approx. €3.8 billion in 2024.

Working closely alongside management, Carlyle will support the future growth of the business through investing in its commercial capabilities, innovation pipeline, and organizational structure to enhance customer focus. Carlyle will leverage its strong track record and extensive experience in successful carve-outs of industrial and chemical assets, following previous investments in Axalta, Atotech, and Nouryon.

“We are delighted to partner with Carlyle, whose sector expertise, carve-out capabilities and collaborative approach will help position BASF Coatings for long-term success,” said Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE. “By retaining an equity stake, we are showing our belief in Coatings’ future value creation and upside potential. The passion, expertise, and customer focus of our Coatings team is what makes this business outstanding.”

“The transaction announced today opens a new chapter of opportunity for BASF Coatings, building on today’s success and shaping an even stronger future,” said Anup Kothari, member of the Board of Executive Directors of BASF SE and responsible for the Coatings division.

“BASF Coatings is an exceptional platform with leading technologies, a world-class management team, strong customer partnerships, and a truly global footprint,” said Martin Sumner, Global Head of Industrials, and Tanaka Maswoswe, Partner at Carlyle. “We see compelling opportunities to leverage our global platform to support the business becoming an established independent leader. This transaction exemplifies Carlyle’s ability to execute complex carve-outs in partnership with leading global corporates.”

“QIA is pleased to partner with Carlyle to support the next phase of BASF Coatings’ continued growth,” said Mohammed Al-Sowaidi, CEO of QIA. “This investment aligns with QIA’s approach of investing in industry leaders and is testament to our belief in the long-term resilience of German businesses.”

Business continuity for customers will be ensured throughout the transaction process. In accordance with legal requirements and local practice, employee representatives will be involved.

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