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Financial Performance and Strategy news
(page 24)
19 January 2025
CARBIOS delays Longlaville plant construction by 6-9 months due to financing
Discussions with stakeholders continue; state aid pending EU approval. Cash reserves and strategic adjustments ensure financial stability. New interim CEO appointed.
17 January 2025
Greenergy Secures New Credit Facilities
Greenergy finalizes refinancing, enhancing flexibility with a $500M borrowing base and $265M term loan, backed by major banks, to support growth and market adaptability.
13 January 2025
Spolana Restructures for Future Transformation
Production shifts focus to industrial decarbonisation, closing PVC and caprolactam lines, cutting 500 jobs, offering severance and retraining, while modernizing sulphuric acid production.
10 January 2025
Groningen Seaports Invests Amid Industry Challenges
Despite a tough year, significant investments continue in industrial sites, with a focus on circular and green sectors, while managing setbacks and maintaining a positive outlook.
6 January 2025
MSD Ireland to Acquire WuXi Vaccines' Dundalk Facility
The acquisition involves a €500M investment, adding 1,000 jobs across Ireland by 2025, enhancing vaccine production capabilities and strengthening Ireland's pharma sector.
17 December 2024
Vulcan Energy Secures €879m Debt Commitment for Lionheart Project
€879m conditional debt commitment signed with Export Finance Australia and seven banks for Phase One Lionheart Project, targeting a total debt package of €1.5bn-€1.6bn.
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4 December 2024
Italgas to Invest €1 Billion in Greece's Ecological Transition by 2030
€1B plan focuses on network expansion, digital transformation, renewable gases, and workforce development to support Greece's ecological transition by 2030.
2 December 2024
INEOS Enterprises to Sell INEOS Composites to KPS Capital Partners for €1.7bn
The sale includes 17 sites, 3 tech centers, and 900 employees. Completion expected in H1 2025, pending approvals. KPS aims to enhance profitability and innovation.
28 November 2024
FUCHS SE completes acquisition of STRUB & Co. AG
The acquisition secures Swiss market access, retains STRUB's brand and management, and adds a research and production plant. STRUB employs 40, with EUR 15M sales in 2023.
27 November 2024
Lactips Raises €16M for Global Expansion of Biodegradable Polymer
The funding will boost growth in Europe, Americas, and Japan, enhance R&D, and expand production capacity, supported by new and existing impact investors.
22 November 2024
Gunvor Temporarily Halts Rotterdam Refinery Operations Amidst Challenging Market Conditions
75,000 bpd Rotterdam refinery halted from Nov 25, 2024 due to lack of viable feedstock and weak margins. Site remains trading terminal; SAF and energy projects continue.
24 October 2024
Neste halts 120 MW electrolyzer investment at Porvoo refinery
Challenging market conditions and limited renewable hydrogen use led to the decision. Neste explores alternative renewable hydrogen options for Porvoo refinery with partners.
3 October 2024
LANXESS to Sell Urethane Systems to UBE Corporation
The sale, valued at €460M, includes 5 sites and 400 employees. Proceeds will reduce net debt. Transaction expected to close in H1 2025, pending regulatory approval.
2 October 2024
RPM International to Open Resin Facility in Belgium
The new facility will enhance manufacturing, supply chain efficiency, and cost reduction, supporting global growth and operational goals. Opening is set for late 2024.
1 October 2024
Covestro and ADNOC Sign Investment Agreement for Public Takeover Offer
ADNOC offers €62/share, supporting Covestro's growth strategy. A 10% capital increase will raise €1.17 billion. Shareholders gain a 54% premium.
1 October 2024
Covestro Backs ADNOC's €1.17 Billion Takeover with Strategic Investment
The agreement supports sustainable growth, offers a 54% premium to shareholders, and ensures governance continuity, with a 10% capital increase for strategic implementation.
24 September 2024
PCI Pharma invests $365M in EU and US facilities for advanced drug delivery and device products
Investments enhance drug-device assembly, packaging, and storage in the US and EU, focusing on injectables and biologics, with new facilities in Illinois and Ireland.
24 September 2024
Solvay to End Production at Salindres Site
68 positions will be cut by late 2025 due to ongoing financial losses. Provisions of €50M will be recorded in Q3 2024, with cash-out starting in 2025. 2024 EBITDA and FCF guidance remain unchanged.
12 September 2024
€35M Investment Boosts Abolis Biotechnologies
An international consortium's investment will expand biomanufacturing, accelerate R&D, and foster strategic partnerships in healthcare, cosmetics, and chemicals, driving sustainable biotech innovation.
9 September 2024
Methanex to Acquire OCI Global’s Methanol Business for $2.05 Billion
The acquisition includes two methanol plants in Texas, a low-carbon methanol business, and a facility in the Netherlands. Expected to boost Methanex's production by 20% and add $275M in annual EBITDA.
29 August 2024
PPG to Sell Silicas Business to QEMETICA
The $310M transaction, closing in Q4 2024, includes manufacturing sites in the US and Netherlands. PPG will focus on coatings and specialty products. QEMETICA aims to expand globally.
29 August 2024
BASF to Close Adipic Acid, CDon, and CPon Plants at Ludwigshafen
Approximately 180 employees will be affected. The company will support them in finding new roles. Production will continue in South Korea and France.
25 July 2024
Södra Reports Stable Q2 Results and Strategic Investments
Net sales rose 3% to SEK 7,527 million. Operating profit was SEK 398 million. Investments in kraft lignin and tannin production are planned, enhancing sustainability and profitability.
10 July 2024
BASF to Cease Glufosinate-Ammonium Production in Germany
Production will end by 2025 due to economic reasons. Jobs will be retained until then. The company will source from third-party suppliers and focus on next-gen solutions with lower application rates.
26 June 2024
EuroAPI FOCUS-27 Plan: Job Cuts and Facility Divestments
The FOCUS-27 plan aims to boost competitiveness with €110-120M restructuring costs, €350-400M CAPEX, and €75-80M annual EBITDA by 2027, focusing on high-value APIs and strategic sites.
7 June 2024
EvodiaBio secures €7M for sustainable aroma technology
The investment will fund commercialization and expansion of a sustainable aroma technology for improving non-alcoholic beer taste, reducing resource use, and lowering CO2 emissions.
24 May 2024
Verkor secures €1.3 billion green loan for Dunkirk Gigafactory
The funds will support the construction of a 16 GWh/year Gigafactory, creating 1,200 direct and 3,000 indirect jobs by 2025, with contributions from 19 banks and a "Dark Green" rating from S&P.
14 May 2024
MOL Opens €1.3 Billion Polyol Complex in Hungary
The new polyol complex in Hungary will produce materials for durable consumer goods using advanced technology, enhancing industrial competitiveness and creating long-term employment for nearly 300 people.
23 April 2024
ExxonMobil to Decommission French Steam Cracker Amid Market Pressures
Permanent closure of Gravenchon steam cracker due to uncompetitive market; 677 direct jobs affected, €500M+ losses since 2018. Unions threaten strikes; decommissioning and remediation pending approval.
15 March 2024
Trinseo Considers Closing Virgin Polycarbonate Plant in Germany
The potential closure aims to boost annual profitability by $15-20M. Demand softens, prices drop due to oversupply. Trinseo explores recycling tech, with a pilot facility in the Netherlands.
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