Plant Watch
BASF completes superabsorbent polymers expansion project in Texas
October 16, 2024 — BASF SE (Ludwigshafen, Germany; www.basf.com) announced that its petrochemicals division has completed production upgrades for superabsorbent polymers (SAP) after a $19.2-million investment in its Freeport, Tex. site. The project, which began in 2023, involved the installation of new equipment to increase production rates and the optimization of existing processes at the SAP plant, ultimately resulting in up to 20% higher throughput.
Mitsubishi Chemical Group expands production of ion-exchange resins
October 16, 2024 — The Mitsubishi Chemical Group (MCG; Tokyo; www.mcgc.com) has decided to increase its production capacity of ion-exchange resins at the Kyushu-Fukuoka Plant in Kitakyushu City, Japan. The upgraded facilities are scheduled to go into operation in April 2026. MCG’s ion-exchange resins are used in various applications, including the production of industrial water, the refining of pharmaceuticals and food products and the production of ultrapure water for semiconductors.
Air Liquide to supply oxygen to LG Chem for battery plant in Tennessee
October 16, 2024 — Air Liquide S.A. (Paris; www.airliquide.com) will invest around $150 million to expand its production capacity and pipeline network in Clarksville, Tenn. to supply oxygen for LG Chem Ltd.’s (Seoul, South Korea; www.lgchem.com) cathode active material plant. This investment involves the construction of a second air-separation unit at the site, as well as additional liquefaction, storage and pipeline capacities. The expansion is expected to be commissioned in 2027.
DuPont completes expansion of photoresist facility in Japan
October 4, 2024 — DuPont (Wilmington, Del.; www.dupont.com) completed a significant expansion for photoresist manufacturing capacity at an existing DuPont site in Agano-shi, Niigata, Japan. With this expansion, DuPont has now nearly doubled its photoresist production capacity at the site, also adding new cleanroom capabilities to reduce contamination risks.
Evonik breaks ground on major silica expansion in South Carolina
October 2, 2024 — Evonik Industries AG (Essen, Germany; www.evonik.com) broke ground on a significant expansion project at its site in Charleston, S.C. This new development will boost the production capacity of precipitated silica by 50%.
Fujifilm to expand semiconductor materials business in Japan
September 30, 2024 — Fujifilm Corp. (Tokyo; www.fujifilm.com) invested¥20 billion (around $133 million) in its semiconductor materials business to further strengthen its facilities for the development, production and quality evaluation of advanced semiconductor materials in Shizuoka and Oita, Japan. The new unit at the Shizuoka site is scheduled to begin operations in late 2025, and the new unit at the Oita site is scheduled to begin operations in early 2026. Fujifilm’s slate of semiconductor chemicals includes photoresists, photolithography-related materials, chemical-mechanical planarization materials, thin-film chemicals and polyimides.
HIF Global announces e-methanol project in Brazil
September 27, 2024 —HIF Global (Houston; www.hifglobal.com) plans to develop a facility to produce up to 800,000 metric tons per year (m.t./yr) of e-Methanol — its first project in Brazil. To be located at the Port of Açu, located in the state of Rio de Janeiro, the plant will use electrolyzers to produce “green” hydrogen, which will be combined with recycled CO2 to form e-methanol.
Avient to expand medical TPU production capacity in China
September 26, 2024 — Avient Corp. (Cleveland, Ohio; www.avient.com) is expanding its manufacturing capabilities for thermoplastic polyurethane (TPU) at its plant in Suzhou, China. The TPU products at this site are primarily used in catheter applications, including cardiovascular, intravenous and other specialty segments.
Mergers & Acquisitions
Phillips 66 to sell interest in Switzerland-based joint venture
October 16, 2024 — Phillips 66, Inc. (Houston; www.phillips66.com) entered into a definitive agreement to sell its 49% non-operated equity interest in Coop Mineraloel AG (CMA) to its Swiss joint venture (JV) partner for a sales price of approximately $1.17 billion. CMA focuses on mineral oil, as well as the procurement and sale of petroleum products (such as fuels and fuel oil), and also operates 324 retail sites and petrol stations across Switzerland. The transaction is expected to close in the first quarter of 2025.
Rio Tinto to acquire Arcadium Lithium for $6.7 billion
October 9, 2024 — Rio Tinto plc (London; www.riotinto.com) plans to acquire Arcadium Lithium plc (Philadelphia, Pa.; www.arcadiumlithium.com) in an all-cash transaction that values Arcadium at approximately $6.7 billion. Arcadium has capabilities in lithium-chemicals manufacturing and extraction processes, including hard-rock mining, conventional brine extraction and direct lithium extraction. Arcadium’s current production capacity is 75,000 m.t./yr of lithium carbonate equivalent, with expansion plans in place to more than double capacity by the end of 2028. Arcadium currently has projects in Argentina, Australia, Canada, China, Japan, the U.K. and the U.S.
McDermott announces agreement to sell CB&I storage business
October 8, 2024 — McDermott International, Ltd. (Houston; www.mcdermott.com) has agreed to sell its CB&I storage business to a consortium of financial investors led by Mason Capital Management. Under the terms of the agreement, McDermott expects to receive $475 million of proceeds before taxes and transaction expenses. CB&I is a designer and builder of storage facilities, tanks and terminals. It became part of McDermott in 2018 when the two companies combined.
Honeywell to spin off its Advanced Materials business
October 8, 2024 — Honeywell International, Inc. (Charlotte, N.C.; www.honeywell.com) plans to spin off its Advanced Materials business into an independent company, which is targeted to be completed by the end of 2025 or early 2026. Upon completion of the spin-off, the new company will operate in a number of sectors, including fluorine products, electronic materials, industrial-grade fibers and healthcare packaging.
Chandra Asri to acquire Shell Energy and Chemicals Park in Singapore
October 7, 2024 — Chandra Asri Group (Jakarta, Indonesia; www.chandra-asri.com) has agreed to acquire Shell Energy and Chemicals Park (SECP) in Singapore. Through the acquisition of SECP, Chandra Asri will ensure the supply of petroleum and chemical products, such as gasoline and jet fuel, as well as ethylene, polyethylene, propylene and styrene monomers, to support the needs of various local industries and processes.
Lanxess to sell Urethane Systems business to UBE Corp.
October 1, 2024 — Lanxess AG (Cologne, Germany; www.evonik.com) will sell its Urethane Systems business to UBE Corp. (Tokyo; www.ube.com). The enterprise value amounts to €460 million, with expected proceeds of €500 million. With this transaction, Lanxess exits its last remaining polymer business. The Urethane Systems business comprises five manufacturing sites, as well as laboratories in the U.S., Europe and China.
Covestro agrees to takeover deal by ADNOC at €62 per share
October 1, 2024 — Covestro AG (Leverkusen, Germany; www.covestro.com) signed an investment agreement with certain entities of the ADNOC Group (Abu Dhabi, United Arab Emirates; www.adnoc.ae) under which ADNOC will make a public takeover offer for all shares of Covestro at a price of €62.00 per share. This price implies an equity value for Covestro of approximately €11.7 billion. ■
Mary Page Bailey