che_march-2024 - 12

its existing partnership with Huatai
Chemical, the strategic alliance will enable
the site to produce 48,000 m.t./yr of
photovoltaic-grade hydrogen peroxide
by 2025. This strategic investment
positions Solvay to meet the rising
demand from the photovoltaic industry.
Mergers & Acquisitions
BASF to divest shares in its two
joint ventures in Korla, China
February 12, 2024 - BASF SE
(Ludwigshafen, Germany; www.basf.
com) announced that in late 2023, it
started the process to divest its shares
in the two joint venture companies
BASF Markor Chemical Manufacturing
(Xinjiang) Co. and Markor Meiou Chemical
(Xinjiang) Co., both located in Korla,
China. The divested assets are involved
in the production of 1,4-butanediol
and polytetrahydrofuran.
Kemira completes the divestment
of its Oil & Gas portfolio
February 5, 2024 - Kemira Oyj (Helsinki,
Finland; www.kemira.com) completed
the divestment of its Oil & Gas business
portfolio to Sterling Specialty Chemicals
LLC, a U.S. subsidiary of Artek Group, a
global industrial chemicals organization
based in India. The total consideration
on a cash and debt-free basis amounts
to approximately $280 million for the
acquisition, which includes three of
Kemira's manufacturing facilities
in the U.S. and the liquid-polymer
manufacturing assets
in
the Netherlands.
Saint-Gobain acquires
International Cellulose Corp.
February 2, 2024 - Saint-Gobain S.A.
(Courbevoie, France; www.saint-gobain.
com) has completed the acquisition of
International Cellulose Corp. (ICC), a
manufacturer of specialty insulation in
the U.S., including spray-on thermal,
fireproofing and acoustic finish systems.
ICC generated revenues of around
$30 million in 2023, and operates a
manufacturing site in Houston, Tex.
BASF ECMS acquires
Arc Metal AB
February 2, 2024 - BASF announced
that BASF Environmental Catalyst and
Metal Solutions (ECMS) has completed
Botlek,
the acquisition of Arc Metal AB in Hofors,
Sweden. The asset purchase adds
capacity for toll smelting and processing
of spent automotive-catalyst materials
in Europe, the Middle East and Africa,
and further complements ECMS's
existing precious-metal recycling
operations in Cinderford, U.K., Seneca
and Spartanburg, S.C. and Caldwell,
Tex. The additional smelting capacity
at the Sweden site will also increase
utilization
of new metals-refinery
capacity in Seneca, S.C.
Corbion enters agreement to
divest emulsifiers business
January 29, 2024 - Corbion N.V.
(Amsterdam, the Netherlands; www.
corbion.com) will sell its emulsifier
business to private-equity firm
Kingswood Capital Management
(Los Angeles, Calif.) for $362 million.
According to Kingswood, the transaction
will create the largest standalone
pure-play emulsifiers business in
North America. The sale is contingent
upon certain conditions, including
regulatory approvals.
■
Mary Page Bailey
For details visit adlinks.chemengonline.com/86461-06
12
CHEMICAL ENGINEERING WWW.CHEMENGONLINE.COM
MARCH 2024
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