LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, joined an alliance of 30 global companies and organization to end plastic waste. The creation of the Alliance to End Plastic Waste (AEPW) aims to find solutions to eliminate plastic waste in the environment, particularly in the oceans. The new alliance wants to commit $1.5 billion over the next five years to develop solutions that minimize and manage plastic waste and promote post-use solutions in North and South America, Europe, Asia, Africa and the Middle East.
About BASF
Lyondell Basell (NYSE: LYB) is one of the world's largest plastics, chemicals and refining companies incorporated in the Netherlands, and with U.S. operations
headquartered in Houston, Texas, and global operations in London, UK. LyondellBasell is the world’s largest producer of polypropylene resins and polypropylene compounds and one of the top
worldwide producers of polyethylene. It is also a major producer of high-value specialty polymers and resins. In 2018, the company had annual sales of nearly $34.7 billion and employed
approximately 19,400 people worldwide.
Source: LyondellBasell Mediaroom, January 16, 2019
On March 4, 2019, Evonik signed an agreement to sell its Methacrylates business to Advent International for €3 billion. The sales price (enterprise value) is about 8.5 times the business’ EBITDA. This transaction is subject to regulatory approval in several countries and is anticipated to close in the third quarter of 2019. Evonik's global Methacrylates business consists of 18 production sites and has about 3,900 employees worldwide and generates about € 1.8 billion per year. The divestment of its Methacrylates business is part of Evonik's systematic strategy to put a stronger focus on specialty chemicals, which are less cyclical.
About Evonik
Evonik Industries is a specialty
chemicals company headquartered in Essen. The company has more than
36,000 employees, is active in more than 100 countries and operates
production plants in 24 countries. It generated sales of around €
14.4 billion and achieved an adjusted EBITDA of almost € 2.4
billion in fiscal 2017. It serves customers across a wide range of industries from food and animal feed,
pharmaceuticals and biotechnology to electronic materials.
Source: Evonik Press Release, March 4, 2019
On March 1, 2019, Univar announced it has completed the
acquisition of Nexeo Solutions, creating Univar Solutions. The
combined business is expected to generate additional growth and
strengthen Univar's market position as a major global distributor of
chemicals and ingredients. It will also help to accelerate
innovation and efficiency in operation.
Nexeo Solutions will divest its plastics distribution business "Nexeo Plastics" to One Rock Capital Partners, LLC ("One Rock"). This transaction is valued at about $640 million, subject to usual closing adjustments, and is anticipated to close in the first half of 2019 with net earnings being used to immediately pay down debt.
About Univar Solutions
Univar Solutions is
a major global distributor of chemicals and plastics. It offers one
of the broadest product lines across various industries including
agriculture, aerospace, chemicals manufacturing, beauty & care,
coatings, adhesives, sealants, and pharmaceuticals. The company generated net sales of about $8 billion and net income of about $120 million in 2017.
Source: Univar Solutions Investor News , March 1, 2019 & Nexeo Press Release, February 8, 2019
Indorama Ventures Public Company Limited (IVL), a major producer of PET resin, successfully completed the acquisition of of M&G Fibras Brasil, in Cabo de Santo Agostinho, Brazil. The plant produces and supplies polyester staple fibers, having a total production capacity of 75,000 tonnes/annum. The acquisition will greatly boost IVL's presence in the fast-growing market in Brazil. The company expects that the acquisition will drive growth and lower IVL's fixed costs by creating synergies and operating efficiencies through supply chain optimization.
About Indorama Ventures
Indorama Ventures Public Company Limited (IVL) is major chemical and plastic producer and a
global manufacturer of wool yarns. The company offers a large variety of chemical and plastic products including polymers, fibers, and packaging materials and upstream
materials for the production of PET and polyester such as ethylene oxide/glycols and PTA. Indorama Ventures has approx. 17,000 employees worldwide and
a consolidated revenue of
US$ 11.4 billion in 2019. The Company is listed in the Dow Jones Sustainability Index (DJSI).
Source: Indorama News Release, Bangkok, Thailand – 25 February 2019
Berry Global Group, Inc. (Berry), a leading plastic packaging manufacturer in North America, announced on March 8, 2019 that it has made an offer to acquire British RPC Group Plc for 793 pence per share in cash. The sum of all consideration will be about £5.0 billion ($6.5 billion). The acquisition of RPC with its highly complementary product portfolio will further strengthen Berry’s market position as a leading plastic packaging manufacturer and could offer additional growth opportunities. According to Berry Global, it will generate annual cost synergies of $150 million.
About RPCS Group Plc:
RPC is one of the largest rigid and flexible plastic packaging manufacturer in Europe, headquartered in Rushden, Northamptonshire (UK). The company operates in 33 countries, has 153
manufacturing sites, and employs about 25,000 people, and generated net sales and adjusted EBITDA of $4.8 billion and $768 million, respectively.
About Berry Plastics
Berry Plastics is a
leading producer of plastic consumer packaging, nonwoven specialty
materials, and engineering materials. The company is
headquatered in Evansville, Indiana and operates over 130 global
manufacturing and development facilities with about 24,000
employees. It generated net sales and adjusted EBITDA of $7.9 billion
and $1,3 billion, respectively, in fiscal 2018.
Source: Berry Global News Release, March 8, 2019
DowDuPont Inc. announced on April 1, 2019 that it has completed the spin-off of Dow Inc. ("Dow"), its Materials Science Division. DowDuPont common stockholders received one share of common stock of Dow for every three shares of DowDuPont common stock they held as of the close of business on March 21, 2019. The new company offers basic and performance chemicals as well as commodity and engineering plastics used across all major markets including automotive & transportation, oil & gas, building & construction, food & beverages, cosmetics and consumer goods.
About Dow Corp.
Headquartered in Midland,
Michigan, Dow Corporation is an American multinational chemical
company with pro forma net sales of $50B in 2018. The newly formed
company employs 37,000 people
globally across 113 manufacturing sites in 31 countries. Its
plastic devision provides polyethylene resins, plastic additives, and elastomeric products
such as olefin/diene copolymers and silicone rubbers. In addition,
it offers a wide variety of basic and performance chemicals and
products including surfactants, emulsifiers, binders, adhesives, sealants, lubricants, waxes, monomers and solvents.
Source: DuPont Press-Release, April 1, 2019
Parker Hannifin Corporation, a global leader in motion and control technologies, agreed to acquire LORD Corporation for approximately US$ 3.7 billion in cash. The transaction has been approved by the board of directors of each company and is subject to customary closing conditions. The acquisition of LORD Corporation with its highly complementary product portfolio will strengthen Parker’s market position and high growth businesses. It will add approximately US$ 1.1 billion in annual sales to engineered materials with complementary products. Lord's diversified product portfolio will also expand Parker-Hannifin’s materials science capabilities as well as its electrification and aerospace product offerings.
About Lord Corporation
Headquartered in Cary, NC,
Lord is a privately-held company founded in 1924. The company offers
a variety of adhesives, coatings and specialty materials as well as
vibration and motion control technologies. Its products are used
across many markets including aerospace, automotive and industrial markets. LORD employs approximately
3,100 people across 17 manufacturing and 15 research and development facilities globally. The company reported annual sales of approximately $1.1 billion
in 2018.
Source: Lord News Release, April 29, 2019
Japan-based Nippon Paint Holdings completed the acquisition of Turkish paint manufacturer Betek Boya
and its subsidiaries for 1.4 billion Turkish liras ($247 million).
According to Nippon Paint, the total purchasing price for Betek’s shares was TL 1.4 billion while the enterprise value including debts was TL 2.39 billion.
According to Turkish regulatory filings, nearly 25 percent of
Betek’s shares are owned by German firm DAW, while the majority
stakeholder is the Akpınar family of Turkey. The company will have
the largest market share in Turkey in addition to Asia, where the
company has a strong market position.
About Nippon Paint and Betek Boya
Founded in 1988, Betek Group is a major manufacturer of decorative paint in Turkey. Its major brands Filli Boya and Fawori have high brand-recognition.
Nippon Paint Holdings Co., Ltd. is a Japanese paint manufacturer. The company has operations in more than 20 countries with 20,500 employees. In 2018,
the company earned $5.7 billion in sales and had $800 million in operational profits.
Source: Nippon News Release, Bangkok, 11 July 2019
DuPont de Nemours, Inc. (“DuPont”), a major producer of high-performance resins, adhesives and a large number of other (specialized) products and solutions, announced on June 3, 2019 its debut as an independent company. This follows the effective separation of its Agriculture Division through the spin-off of Corteva, Inc. ("Corteva"). The new company offers solutions and products in four core markets: Electronics & Imaging, Transportation & Industrial, Nutrition & Biosciences and Safety & Construction. “The company expects to drive above GDP growth through disciplined innovation, a relentless focus on ROIC, and a best-in-class cost structure. With these priorities, combined with active portfolio management and a commitment to capital returns, DuPont will remain intently focused on delivering value for our shareholders,” said Ed Breen, Executive Chairman of DuPont.
About DuPont
Headquartered in Wilmington,
Delaware, DuPont's plastic and polymer business offers a variety of
performance and commodity thermoplastics, elastomeric materials, and renewably-sourced polymers.
It also offers a large variety of chemical and plastic products
including adhesives, sealants, performance fibers, construction
materials, and high-performance materials. Its products are used
across a large number of markets including automotive, oil & gas, building &
construction, electronic,
medical, food, photovoltaic and other industrial markets. DuPont employs
34,000+ people globally across 170 manufacturing sites, 10 research and
development facilities, and 10 innovation centers.
Source: DuPont Press-Release, June 3, 2019
Occidental Petroleum Corporation (“Occidental”) (NYSE: OXY) a leading oil and gas company successfully completed the acquisition of Anadarko Petroleum Corporation (“Anadarko”) (NYSE: APC) in a transaction valued at $55 billion, including the assumption of Anadarko’s debt. According to Vicki Hollub, President and Chief Executive Officer of Occidental, the company expects cost and capital spending synergies of at least $3.5 billion annually ($2.0 billion annual synergies + $1.5 billion annual capital reduction).
About Occidental
Headquartered in Houston, Occidental is one of the largest U.S. oil and gas exploration companies and an important producer of chemicals.
The company has operations in over 40 countries including the United States, Middle East and Latin America. Ocidental's Midstream and Marketing segment purchases, markets,
gathers, processes, transports and stores oil, condensate, natural gas liquids (NGLs), natural gas, carbon dioxide (CO2) and power. OxyChem's affiliate OxyVinyls is the third-largest
supplier of polyvinyl chloride (PVC) in the United States.
Source: Occidental New Releases, Thursday, August 8, 2019
Indorama Ventures Public Company Limited (IVL), a global chemical and plastic producer, announced on 20 November 2019 that it has completed the acquisition of Sinterama S.p.A, a leading manufacturer of polyester automotive interiors and high performance colored yarns. This acquisition broadens IVL’s capabilities in the automotive textile business including colored polyester yarns for automotive, furnishing, apparel and technical applications.
About Sinterama
Sinterama is a major manufacturer of polyester automotive interiors and high performance colored yarns. The company employs approximately 890 people and operates
production sites in Italy,
UK, Brazil, China and Bulgaria and produces over 30,000 tons of thread a year in 1200 different varieties, generating a total revenue of 135 million Euros.
Source: Nippon Paint News Release, Bangkok, Thailand – 20 November 2019