Chemical Engineering July 2022 - 11

Mergers & Acquisitions
Borealis receives binding offer for
sale of its nitrogen business
June 6, 2022 - Borealis Group (Vienna,
Austria; www.borealisgroup.com) has
received a binding offer from Agrofert,
a.s. (Prague, Czech Republic) for
the acquisition of Borealis' nitrogen
business, including fertilizer, melamine
and technical nitrogen products. The
offer proposes an enterprise value
of €810 million. Closing is expected
in the second half of 2022.
DuPont completes sale of
Biomaterials business unit
June 2, 2022 - DuPont (Wilmington,
Del.; www.dupont.com) completed
the sale of its Biomaterials business
unit to the Huafon Group (Ruian,
China) for approximately $240
million. Huafon Group specializes in
polyurethane materials, including adipic
acid, polyester polyols, microfibers,
polyamide and more.
Lanxess and Advent to acquire
DSM Engineering Materials
May 31, 2022 - Lanxess AG (Cologne,
Germany; www.lanxess.com) and
Advent International (Boston, Mass.) are
establishing a JV for high-performance
engineering polymers. The two companies
signed an agreement to acquire DSM
Engineering Materials (DEM) for around
€3.7 billion. DEM will become part
of the new JV, along with Lanxess'
High Performance Materials business
unit. DEM produces polyamides, as
well as various specialty materials.
LG Chem and B&M to establish JV
to produce cathode material
May 30, 2022 - LG Chem Ltd. (Seoul,
South Korea; www.lgchem.com)
announced the formation of a JV with
Tianjin B&M Science and Technology
(B&M), a subsidiary of China's Zhejiang
Huayou Cobalt (Huayou Cobalt) that
specializes in cathode materials. Both
partners have committed KRW500
billion (approximately $403 million)
toward the initiative by 2025.
Johnson Matthey divests Battery
Materials business assets
May 27, 2022 - Johnson Matthey
plc (JM; London; www.matthey.com)
has entered into an agreement for the
sale of part of its Battery Materials
business to EV Metals Group (Perth,
Australia). The sale to EV includes JM
assets in Oxford, U.K. and a pilot plant
in Billingham, U.K., as well as a research
center in Moosburg, Germany and the
partly constructed site in Konin, Poland.
The sale does not include Johnson
Matthey's battery materials business
in Canada, which will be acquired by
Nano One Corp. (Vancouver, B.C.,
Canada) for around $8 million. The
assets acquired by Nano One include
a 2,400-m.t./yr production facility in
Candiac, Québec that supplies lithiumiron-phosphate
(LFP) cathode material.
Saint-Gobain sells glass
businesses in Austria and Germany
May 27, 2022 - Saint-Gobain S.A.
(Courbevoie, France; www.saintgobain.com)
announced the sale of
its glass-processing businesses Eckelt
Glas and Glas Ziegler in Austria to the
German firm Aequita, as well as the
sale of its holding in the co-venture
Glaskontor Erfurt - a glass-processing
business in Germany - to the Caleoglas
Group. The businesses generated
sales of around €55 million in 2021. ■
Mary Page Bailey
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Chemical Engineering July 2022

Table of Contents for the Digital Edition of Chemical Engineering July 2022