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Latest News: Business

Avient expands production of recycled nylon formulations inavient recycled nylon Istanbul

Avient Corp. (Cleveland, Ohio) announced that production of its Nymax REC Recycled Nylon Formulations is expanding to Istanbul, Turkey. This will increase accessibility to these sustainability-supporting, REACH-compliant solutions for customers in Middle Eastern countries. These PA6-based Nymax REC formulations contain…

Ashland sells Avoca business line to Mane

Ashland Global Holdings Inc. (Wilmington, Del.) announced that it has signed a definitive agreement to sell its Avoca business to Mane SA (Le Bar-sur-Loup, France), a global producer and supplier of fragrances and flavors. The transaction is expected to close…

Vale and GreenIron to explore metals & mining decarbonization projects in Brazil and Sweden

Vale S.A. (Rio de Janeiro, Brazil) and GreenIron H2 AB (Stockholm, Sweden) have signed a Memorandum of Understanding (MOU) to collaborate on key initiatives in Brazil and Sweden for the decarbonization of the mining and metals supply chain. Both companies…

Bayer and Neste to collaborate on developing feedstocks for renewable fuels

Bayer AG (Leverkusen, Germany) and Neste Corp. (Espoo, Finland) announced that they have signed a memorandum of understanding (MOU) to jointly scale winter canola as a biomass-based feedstock for renewable products like biofuels. Within the collaboration, the companies are going…

BASF to sell Styrodur insulation materials business

BASF SE (Ludwigshafen, Germany) has signed an agreement with Karl Bachl Kunststoffverarbeitung GmbH & Co. KG (BACHL) for the sale of its business with Styrodur, an insulation material made from extruded polystyrene (XPS). BACHL is one of the leading manufacturers…

Perstorp to begin manufacturing synthetic esters at new site in Amsterdam

Perstorp AB (Malmö, Sweden) a wholly-owned subsidiary of PETRONAS Chemicals Group Berhad (PCG), will serve growing specialty fluids markets from its new site in Amsterdam. In December 2024 Perstorp announced the acquisition of an ester plant, located outside Amsterdam in…

Covestro to expand polycarbonate production site in Ohio

Covestro AG (Leverkusen, Germany) is investing a low triple-digit million Euro amount to expand its site in Hebron, Ohio. It will construct multiple new production lines and infrastructure to manufacture customized polycarbonate compounds and blends and significantly expand its capacity…

Covestro partners with DB Cargo BTT for more sustainable chemicals delivery to Poland

Covestro AG (Leverkusen, Germany) is  collaborating with logistics expert DB Cargo BTT for a more efficient and sustainable transport of chemicals to and within Poland. In particular the transport of methylene diphenyl isocyanate (MDI), a chemical raw material used in…

Phillips 66 announces $2.2-billion EPIC NGL acquisition

Phillips 66, Inc. (Houston) announced that it has entered into a definitive agreement to buy EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP, which own various subsidiaries and long haul natural gas liquids pipelines, fractionation facilities and distribution systems (EPIC…

ABB invests in generative AI energy manager startup Edgecom

ABB, Inc. (Zurich, Switerland) is investing in a strategic partnership with Edgecom Energy, the Toronto-based energy management startup. The company’s unique energy management platform uses artificial intelligence to help industrial and commercial users manage and reduce peaks in their power…