Latest News: Business
Air Liquide invests in new ASU in South Africa
Air Liquide (Paris, France; www.airliquide.com) has signed a major long-term contract with Evraz Highveld Steel and Vanadium, the second-largest steel producer in South Africa. Air liquide is investing around €40 million in a new air separation unit (ASU), with a…
Toyo invests in Indonesian engineering company
Toyo Engineering Corp. (Toyo; Chiba, Japan; www.toyo-eng.co.jp) has acquired 47% of shares of a major engineering company, PT. Inti Karya Persada Teknik (IKPT; Jakarta, Indonesia; www.ikpt.com). IKPT, an engineering company founded in 1982, has a lot of experience in engineering,…
Praxair sell advanced components business to FM Industries
Praxair, Inc. (Danbury, Conn.; www.praxair.com) has executed a definitive agreement by which Praxair sold its advanced components business to FM Industries, Inc. (Fremont, Calif.). FM Industries is a wholly-owned subsidiary of NGK Insulators of Japan. Terms of the transaction were…
AkzoNobel invests €80 million to supply new Suzano pulp mill in Brazil
AkzoNobel (Amsterdam, the Netherlands; www.akzonobel.com) is planning to invest €80 million in the construction of a new pulp Chemical Island facility in Brazil. The plant, operated by the company's Pulp and Paper Chemicals business, Eka Chemicals, will supply the Suzano…
ThyssenKrupp and Outokumpu to combine their stainless-steel businesses to create a new global leader
ThyssenKrupp AG (Essen, Germany; www.thyssenkrupp.com) and Outokumpu Oyj (Espoo, Finland; www.outokumpu.com) today announced the combination of Outokumpu with Inoxum, the stainless steel unit of ThyssenKrupp, to create a new global leader in stainless steel. Agreements to this effect have been…
Fluor to design, build, operate and maintain 125-MW PV facility in Arizona
Fluor Corp. (Irving, Tex.; www.fluor.com) says that Arlington Valley Solar Energy II, LLC (AVSE II), a member of LS Power Group, has awarded Fluor a lump-sum engineering, procurement and construction (EPC) contract, as well as a separate contract for ongoing…
JGC wins closed cooling-water facility rehabilitation project in Iraq
JGC Corp. (Yokohama, Japan; www.jgc.co.jp) has been awarded a contract for a project to renovate cooling water facilities at a thermal power plant in Nassiriyah in southern Iraq. This marks the first post-Iraq War lump-sum contract for engineering, procurement, and…
Major expansion and upgrade project at Samsung Total Petrochemicals’ complex in Daesan
Total S.A. (Paris, France; www.total.com) is consolidating its positions in petrochemicals in Asia with a new expansion and upgrading project for the Daesan complex in South Korea, which the Group owns with Samsung as part of the Samsung Total Petrochemicals…
Eastman to acquire Solutia
Eastman Chemical Co. (Kingsport, Tenn.; www.eastman.com) and Solutia Inc. (St. Louis, Mo.; www.solutia.com) have entered into a definitive agreement, under which Eastman will acquire Solutia, a leader in performance materials and specialty chemicals. Under the terms of the agreement, Solutia…
Chemical production down slightly in the U.S. and globally, ACC says
The global chemical production regional index (Global CPRI) fell 0.1% in December, the fourth consecutive monthly decline. Similarly, the U.S. chemical production regional index (U.S. CPRI) also slipped by 0.1% in December, following a revised 0.1% decline in November. The…