Diversified Chemicals

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Kumpulan Jetson Bhd's subsidiary to dispose interest in Asian Corporation Ltd

Monday, 21 Jul 2014 08:00pm EDT

Kumpulan Jetson Bhd:Says Jetson Development (Asia) Sdn Bhd, subsidiary entered into share sale agreement with Hong Kong Oriental Rich & Force Investment Co., Ltd.To dispose 14,572,034 ordinary shares of HK$1 each in Asian Corporation Ltd (ACL), representing 60 pct of issued and paid-up share capital of ACL for disposal consideration of HK$8,500,000 (equivalent to 3,524,950 Ringgit based on exchange rate of 0.4147 Ringgit to HK$).

Evonik Industries AG plans Joint Venture in China

Monday, 14 Jul 2014 04:10am EDT

Evonik Industries AG:Says signed together with Jiangsu Zhongneng Polysilicon Technology Development Co. Ltd., wholly owned subsidiary of GCL-Poly Energy Holdings Limited (GCL-Poly), a letter of intent to establish joint venture for production of fumed silica and ultra-pure silicon tetrachloride in China.Evonik to hold a 60 pct share in joint venture.Says plants, which to have annual capacity of over 20,000 metric tons, to be built in Xuzhou (Jiangsu Province, China) and are scheduled to start-up operation in 2016.

Deepak Fertilisers and Petrochemicals Corp Ltd plans to raise for expansion, diversification-Business Standard

Monday, 14 Jul 2014 02:00am EDT

Deepak Fertilisers and Petrochemicals Corp Ltd (DFPCL):Has sought approval of its shareholders for raising 10.00 bln Indian Rupees from the market during the current financial year 2014-2015 for its expansion and diversification-Business Standard.(DFPCL), has also moved a proposal to double the borrowing powers of its board to 10.00 bln Indian Rupees.It may use these funds to finance its plans for doubling complex fertiliser capacity to six million tonnes per annum.

Alpek and BASF sign agreements regarding their EPS and PU business activities in Americas

Thursday, 10 Jul 2014 09:59am EDT

Alpek SAB de CV:Alpek and BASF announces that they have signed agreements concerning EPS (expandable polystyrene) and PU (polyurethane) business activities of their Polioles joint venture in Mexico, and BASF EPS business in North and South America, excluding BASF Neopor (grey EPS) business.Alpek to acquire all of Polioles EPS business activities, including its EPS production site in Altamira, Mexico.BASF to acquire Polioles PU business activities, including selected assets in its Lerma facility as well as all marketing and selling rights for PU systems, isocyanates and polyols.Upon completion of transaction, Polioles to continue operations as Alpek-BASF joint venture with product portfolio comprised of industrial and specialty chemicals.Under agreements, Alpek to acquire BASF EPS business activities in North and South America.BASF EPS business activities include BASF EPS sales and distribution channels in North and South America, production facilities in Guaratingueta, Brazil, and General Lagos, Argentina, and foam parts business in Chile (Aislapol SA).Combined capacity of all EPS production facilities that Alpek will acquire is about 230,000 metric tons per year.BASF will continue to sell Neopor to its customers in United States, Canada and South America.In Mexico, Alpek will sell Neopor for BASF based on distribution agreement.Closing of transaction is expected by early 2015.Financial terms of agreement were not provided.

Hansa Group AG petitions for commencement of insolvency proceedings under its own administration on grounds of insolvency

Wednesday, 9 Jul 2014 12:43pm EDT

Hansa Group AG:Management Board has openly reviewed restructuring options available to the group of companies and resolved to restructure company by means of insolvency proceedings under its own administration.Management Board of Hansa Group AG therefore filed petition to commence insolvency proceedings under its own management on grounds of insolvency with responsible District Court in Duisburg.Says petition for commencement of insolvency proceedings under its own management was also filed for group companies LUHNS GmbH, WASCHMITTELWERK GENTHIN GmbH and Chemische Fabrik WIBARCO GmbH.Expects that insolvency court concerned to act very quickly to appoint provisional administrator.

Toyota Tsusho Corp to fully acquire TOMEN ELECTRONICS CORP and to pay no mid-term dividend for FY 2015

Wednesday, 9 Jul 2014 02:30am EDT

Toyota Tsusho Corp:To acquire 9,677,708 shares of TOMEN ELECTRONICS CORP for 1,650 yen per share (15,968 million yen in total ) through takeover bid.Says Toyota Tsusho to hold a 100 pct stake in TOMEN ELECTRONICS after the takeover bid, up from 40.16 pct.Offering period from July 10 to Aug. 21.Settlement date starts Aug. 28.To pay no mid-term dividend for FY ending March 2015.

Shandong Hualu Hengsheng Chemical Co Ltd issues H1 2014 net profit outlook

Tuesday, 8 Jul 2014 08:00pm EDT

Shandong Hualu Hengsheng Chemical Co Ltd:Net profit for H1 2014 to increase 80 pct to 120 pct.Net profit of H1 2013 was 190,000,167.42 yuan.Comments that production capacity release, cost reduction and production structure optimization are the main reasons for the forecast.

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