Chemical Engineering September 2022 - 12

Mergers & Acquisitions
Solenis to acquire Clearon Corp.
August 11, 2022 - Solenis (Wilmington,
Del.; www.solenis.com) entered into a
definitive agreement to acquire watertreatment
specialist Clearon Corp. Clearon
produces trichloroisocyanuric acid (trichlor)
and dichloroisocyanuric acid (dichlor)
at its South Charleston, W.Va. plant and
converts these core chemistries into an
array of finished goods at its tableting
and packaging facility. Products include
sanitizers and disinfectants for watertreatment
applications.
BP sells stake in Toledo-based
refinery to Cenovus
August 9, 2022 - Bp plc (London; www.
bp.com) has reached an agreement to
sell its 50% interest in the bp-Husky
Toledo Refinery in Ohio to Cenovus
Energy Inc., (Calgary, Alta., Canada;
www.cenovus.com), its JV partner in
the facility. Under the terms of the deal,
Cenovus will pay $300 million for bp's
stake in the refinery, plus the value of
inventory, and will take over operations
when the transaction closes, which is
expected to occur later in 2022. The
refinery can process up to 160,000
barrels per day (bbl/d) of petroleum.
Stratasys to acquire Covestro's
additive manufacturing business
Stratasys Ltd. (Eden Prairie, Minn.;
www.stratasys.com) will acquire the
additive manufacturing materials
business of Covestro AG (Leverkusen,
Germany; www.covestro.com). The
acquisition includes R&D facilities,
global development and sales teams,
a portfolio of approximately 60 additive
manufacturing materials and an extensive
patent portfolio. The purchase price
is approximately €43 million.
Ube to acquire APIC from
Mitsubishi Chemical
August 5, 2022 - Ube Corp. (Tokyo;
www.ube.com) will acquire API Corp.
(APIC), which is currently wholly owned by
Mitsubishi Chemical. APIC is a contract
development and manufacturing
organization (CDMO) that offers a wide
range of services, such as synthetic
route design, pilot manufacturing,
investigational medical manufacturing
and commercial production.
Aramco to acquire Valvoline's
Global Products business
August 1, 2022 - Valvoline Inc. (Lexington,
Ky.; www.valvoline.com) has reached
a definitive agreement with The Saudi
Arabian Oil Co. (Aramco; Dhahran; www.
aramco.com) for the sale of Valvoline's
Global Products business for $2.65 billion
in cash. Valvoline Global Products is an
independent producer and distributor
of lubricants and automotive chemicals.
The transaction is targeted to close in
late calendar year 2022 or early 2023.
Ineos and Sinopec to jointly build
HDPE plants in China
July 28, 2022 - Ineos Ltd. (London,
U.K.; www.ineos.com) and Sinopec
(Beijing, China; www.sinopecgroup.
com) plan to form a 50-50 JV to build
a new 500,000-m.t./yr high-density
polyethylene (HDPE) plant in Tianjin,
China, as well as at least two additional
500,000-m.t./yr HDPE plants in the
future to produce pipe-grade products.
The Tianjin plant is expected to come
onstream by the end of 2023. ■
Mary Page Bailey
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12
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SEPTEMBER 2022

http://www.valvoline.com http://www.solenis.com http://www.aramco.com http://www.stratasys.com http://www.aramco.com http://www.covestro.com http://www.ineos.com http://www.bp.com http://www.sinopecgroup.com http://www.bp.com http://www.sinopecgroup.com http://www.ube.com http://www.cenovus.com http://adlinks.chemengonline.com/82585-06 http://WWW.CHEMENGONLINE.COM

Chemical Engineering September 2022

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