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Financial Performance and Strategy news
(page 30)
15 May 2020
Solvay's Composite Materials Efficiency Plan
The plan includes closing plants in Manchester and Tulsa, cutting 570 jobs, and saving €60M annually by end of 2020, to counteract COVID-19's impact on demand in the civil aircraft sector.
31 January 2020
BASF Acquires Solvay's Polyamide Business
The acquisition enhances BASF's polyamide capabilities, supply reliability, and market access in Asia and the Americas. It includes production sites, R&D centers, and joint ventures, adding 700 employees.
14 November 2019
CIECH S.A. Records Impairment for CIECH Soda Romania Assets, No Impact on Adjusted EBITDA
An impairment loss of PLN 36.8M was recorded due to halted steam supplies, affecting EBITDA and net results. Production stopped on Sept 18, 2019. Future decisions pending by year-end.
12 June 2019
Northvolt Raises $1 Billion for Europe's First Lithium-Ion Gigafactories
Northvolt plans a second gigafactory in Germany with Volkswagen. The European Investment Bank approved a $400M loan. Production at Northvolt Ett starts in 2021, with expansion to 32 GWh.
12 February 2019
AFYREN secures €60M for industrial development
The financing will fund the first plant's design and development, advancing bio-based acid production technology for markets like cosmetics, nutrition, and fine chemicals.
25 October 2018
Terrafame to Build Battery Chemicals Plant in Finland
The plant will produce EV battery chemicals, enhancing profitability and skill development. Investment costs EUR 240M, with funding from Finnish Minerals Group, Galena, Trafigura, and Sampo.
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1 August 2018
AIQBE Companies' 2017 Economic Impact: €1.9 Billion
In 2017, AIQBE companies employed 9,558 people, invested €253.4M, and improved environmental metrics. They also promoted education and research through strong ties with local universities.
3 July 2018
INEOS Invests €2.7 Billion in New European Chemical Complex
A €2.7 billion project will build an ethane cracker and PDH unit in Northern Europe, leveraging US shale gas. Completion is expected in four years, enhancing self-sufficiency and supporting derivatives.
14 June 2018
Investment Steady at Industriepark Höchst
Tenants invested EUR 328M. New subsidiary expands services. Agreement on Seveso III Directive. UPM considers biorefinery. Revenue up, driven by energy and site services.
3 April 2018
Evonik to Close Hungarian Kaba Site
Production at the Kaba site will end by April 2018 due to market competition. Alternatives were explored, and supply remains assured. Redundancies will be managed with local authorities.
7 November 2016
MOL Group Sets 2017-2021 Financial and Operational Targets
MOL plans $2bn capex for refining, petrochemicals, and retail, aiming for higher non-fuel product share and market expansion. Focus on efficiency, diversification, and maintaining strong cash flow.
3 November 2016
Pannonia Ethanol Expands Tolna County Plant
A €135M credit facility from Hungarian banks will fund plant expansion, job creation, cost reduction, and increased corn buying and animal feed output. The company seeks government support against EU ethanol phase-out.
10 May 2016
Ercros to Invest EUR 54 Million to Phase Out Mercury Technology
The plan involves investing EUR 53.7M to increase membrane chlorine production, reduce mercury use, and enhance efficiency, aiming for a yearly EBITDA of EUR 48M by 2020.
3 December 2015
Celanese Sells Tarragona Emulsions Unit to IQOXE
The sale includes a 25,000mt emulsions unit with 29 employees. Celanese will still market certain products. The VAE unit will close due to lack of buyers, with production ceasing in October.
27 March 2015
Grupa Azoty's Largest Project
A €425M project will build Europe's largest PDH unit, a power plant, and expand port facilities, boosting revenue by €500M annually and creating 200 permanent jobs. Completion expected by 2019.
10 December 2014
370 Million Euro Invested in Höchst Industrial Park
Since 2000, investments in Höchst Industrial Park total 6.3 billion euros. In 2014, Infraserv Höchst Group saw a 10% revenue increase, driven by energy supply advancements.
10 November 2014
Styrolution to Close Polystyrene Site in Sweden
The Trelleborg site closure by end of 2014 affects 51 employees. Operations will shift to Antwerp and Wingles to enhance cost structures and support long-term sustainability in EMEA.
6 June 2013
Solvay to Strengthen Global Soda Ash Leadership
Plans to cut €100M/year in European costs by 2016, expand North American trona mining, and close a Portuguese unit. Aims to boost efficiency and address overcapacity, impacting 450 jobs by 2016.
21 November 2012
Thermphos Bankrupt
Declared bankrupt on Nov 21, 2012, the company faced strict government controls, competition, and safety issues. 450 jobs were lost, and no buyer emerged for a relaunch. Annual turnover was €400 million.
9 July 2012
Vita Group Sells Nonwovens Business
Employees will transfer, and consultations with Works Councils are underway. Funds from the sale will reduce debt and invest in growth. Vita Group now has no net debt and significant cash availability.
9 May 2012
Eni Rebrands Chemicals Division as Versalis
Versalis focuses on innovation, green chemicals, and emerging markets. Investments target growth, site upgrades, and elastomers, aiming for a 50% sales increase and €400m EBIT improvement by 2015.
30 June 2010
Neste Oil Sells Sines Plant to Repsol
The sale of the Sines ETBE plant will slightly boost Neste Oil's Q2 results. The plant, with a 50,000-tonne capacity, was converted to ETBE production in 2005.
15 May 2010
LANXESS Opens R&D Center for NBR in France
The new center in La Wantzenau consolidates R&D for NBR, enhancing product innovation and global competitiveness. The site also focuses on sustainability, reducing energy costs by 90%.
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