che_november-2024 - 12

Arcadium at approximately $6.7 billion.
Arcadium has capabilities in lithiumchemicals
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.chandraasri.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
For details visit adlinks.chemengonline.com/86469-05
12
CHEMICAL ENGINEERING WWW.CHEMENGONLINE.COM
NOVEMBER 2024

http://www.evonik.com http://www.honeywell.com http://www.ube.com http://www.mcdermott.com http://www.chandra-asri.com http://www.covestro.com http://www.chandra-asri.com http://www.adnoc.ae http://adlinks.chemengonline.com/86469-05 http://WWW.CHEMENGONLINE.COM

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