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Financial Performance and Strategy news
(page 29)
7 June 2023
Irving Oil Reviews Whitegate Refinery's Future
The company is considering options including a sale of key assets. The review, driven by industry challenges, could impact Ireland's energy security. The government is monitoring the situation.
6 April 2023
Evonik Sells Lülsdorf Site and Cyanuric Chloride Business to ICIG
The sale includes over 600 employees and all production plants. The transaction awaits antitrust clearance and Evonik committee approval, with completion expected by mid-2023.
21 March 2023
Olin to Close Dutch Cumene Plant
Operations will cease at epoxy resin facilities in South Korea and Brazil. Q1 2023 results will include $57M in restructuring charges, with $15M as non-cash asset impairments.
24 February 2023
BASF Reports 2022 Resilience, Implements Cost-Saving Measures in Europe
In 2022, sales rose 11.1% to €87.3B, but EBIT fell 11.5%. High energy costs and impairments impacted earnings. Cost-saving measures aim to save €500M annually and reduce CO2 emissions by 4%.
13 February 2023
INEOS Secures €3.5 Billion for Europe's Greenest Cracker in Antwerp
The new Antwerp cracker will have the lowest carbon footprint in Europe, use low carbon hydrogen, and create 450 jobs. Supported by 21 banks, the €3.5B financing includes €1.5B uncovered debt.
17 November 2022
Circularise secures €11M funding from Brightlands, Asahi Kasei, Neste, 4impact
Circularise will use the funds to advance its blockchain-based digital product passports and mass balance bookkeeping software, supporting the shift to a circular economy in industrial supply chains.
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24 October 2022
Highfield Resources secures €320.6M for Muga Potash Project
The financing includes €300M for construction and €20.6M for cost overruns. The term is 10 years for the main facility and 5 years for the overrun facility. HFR shares rose 12% to A$0.84.
31 August 2022
BASF Sells Nutrilife® Baking Enzymes to Lallemand
The transaction is set to complete by September 30, 2022. Lallemand aims to expand its enzyme portfolio and ensure a smooth transition for Nutrilife® customers.
25 August 2022
Novartis to Spin Off Sandoz into Standalone Company
The spin-off aims to create a leading European generics and global biosimilars company, enhancing focus and growth for both entities, with completion expected in H2 2023, subject to approvals.
25 August 2022
Yara Reduces European Ammonia Production
Due to high gas prices, ammonia capacity in Europe is cut to 35%. Annual reductions: 3.1M tonnes ammonia, 4M tonnes finished products. Global sourcing will help meet demand.
23 August 2022
Grupa Azoty Kędzierzyn Scales Down Fertilizer Production Due to High Gas Prices
Natural gas prices surged from EUR 72/MWh to EUR 280.50/MWh in six months, driven by geopolitical tensions. The company monitors raw material prices and production profitability for future decisions.
12 July 2022
Enagás to Invest €4.775 Billion in Energy Security and Decarbonisation
The 2022-2030 Strategic Plan focuses on gas and hydrogen infrastructure, innovation, international development, and renewable projects, aiming for 2-4% annual EBITDA growth and carbon neutrality by 2040.
29 June 2022
FREYR Battery Approves First Gigafactory in Norway
The gigafactory will have a 29 GWh capacity, supported by $1.6 billion in debt financing and Norwegian government backing, aiming for high efficiency and significant market impact by 2030.
23 March 2022
MOL Builds New Propylene Plant in Hungary
The new plant in Tiszaújváros will produce 100,000 tons of propylene annually, boosting self-sufficiency and creating jobs. It's part of a $4.5 billion investment to make the city a regional chemical hub.
15 January 2022
Unimot Group Signs Preliminary Deal to Acquire Lotos Fuel Terminals and Bitumen Plants
The acquisition will make Unimot the third-largest fuel storage and second-largest bitumen seller, doubling its workforce and potentially adding PLN 70-100 million in annual EBITDA.
6 December 2021
PCC Rokita and PCC Exol to Expand Production and Product Range in Poland
The investment, valued at PLN 351 million, aims to boost production capacity and sustainability, with completion by mid-2026. Plans include renewable energy projects and advanced production technologies.
4 November 2021
ORLEN Południe Starts Green Glycol Production in Poland
The new unit in Trzebinia produces 30,000 tonnes of eco-friendly glycol annually, covering 75% of domestic demand. It includes Poland's first hydrogen hub and creates several dozen jobs.
18 October 2021
Sunfire secures €109M to advance green hydrogen technology
The investment will scale advanced electrolysis technologies, build gigafactories, and boost green hydrogen production to decarbonize industries and meet climate goals.
27 July 2021
Jervois Mining Acquires Freeport Cobalt for $160M, Expands in Finland
The acquisition adds 6,250 mtpa refining capacity in Finland, enhances downstream expertise, and strengthens financials, positioning the company for growth and sustainability. Expected to close by August 2021.
2 July 2021
AIQBE 2020 Summary
Despite COVID-19, AIQBE added 2,565 jobs in 2020, contributing significantly to Huelva's GDP. Turnover was €6.9B, with 32% of production exported. Investments totaled €219M.
27 June 2021
Fortum Invests in Harjavalta Plant to Boost Battery Recycling Capacity
The new Harjavalta plant will enhance recycling of lithium-ion batteries, recovering critical metals and supporting sustainable battery production, creating 30 jobs and reducing carbon footprint.
9 June 2021
Northvolt Secures $2.75 Billion to Expand Swedish Gigafactory to 60 GWh
The funding will boost battery cell production, R&D, and recycling. Northvolt plans to build more gigafactories in Europe, with potential sites in Germany, to meet growing demand for electric solutions.
24 May 2021
PKN ORLEN Launches Major Petrochemical Project in Poland
The Olefins III Complex will boost energy efficiency, cut CO2 emissions, and increase production capacity by 60%. Completion is set for 2024, with production starting in 2025.
3 May 2021
Trinseo Acquires Arkema’s PMMA Business
Deal advances shift to higher-margin engineered materials; targets ~$50M annual synergies; adds ~860 staff, seven plants and three R&D sites; enables APAC growth and IT harmonization.
14 April 2021
Ercros to Double Sodium Chlorite Production in Sabiñánigo
The new line will boost capacity to 11,300 t/y by Q3 2022, targeting export markets. This aligns with the 3D Plan's focus on diversification, digitalisation, and decarbonisation.
15 February 2021
EFRA Project at Gdansk Refinery
The EFRA Project boosts product yield, modernizes refining, and increases margins. It secures financing, ensures market for new products, and enhances production flexibility and competitiveness.
14 February 2021
LANXESS to Acquire Emerald Kalama Chemical
LANXESS will acquire Emerald Kalama Chemical for USD 1.04 billion, enhancing its Consumer Protection segment and North American presence. The deal is expected to close in the second half of 2021.
11 February 2021
Metsä Group to Build Bioproduct Mill in Finland
The €1.6B investment will create 1,500 jobs, boost exports by €0.5B annually, and enhance sustainability. The mill will produce 1.5M tonnes of pulp and 2.0 TWh of renewable electricity per year.
2 January 2021
Ercros Unveils €69M 3D Plan for 2021-2025
The 3D Plan focuses on Diversification, Digitalisation, and Decarbonisation, with 20 projects aimed at sustainability, competitiveness, and meeting EU climate goals, investing €92M by 2029.
22 November 2020
Zijin Plans Over USD 3 Billion Investment in Serbia
Zijin plans to invest USD 1.26 billion in Serbia, with total investments exceeding USD 3 billion. Efforts include facility expansion, environmental protection, and improved workplace safety.
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