Epoxy
January 10, 2023
U.S. Auto Sales
December 16, 2022
Bio-Epi
INEOS Inovyn releases new sustainability report, with some ambitious new milestones
- Thursday, December 15, 2022
- INOVYN
- 2021 was a particularly fruitful year for INEOS Inovyn, marked in part by our commitment to reduce our carbon footprint by 33% before 2030 and reach net zero by 2050.
- In 2021, INEOS Inovyn deployed efforts focused on circularity, widening its panel of products made of bio-sourced materials, investing in the development of solutions for advanced recycling of PVC and supporting over 30 local charities and community organisations.
- INEOS Inovyn has been boosting its green hydrogen plans and plans to invest EUR 2 Billion to further cement its position as the European leader on this strategic market.
INEOS Inovyn has published its second sustainability report on 15 December 2022. The new report outlines the steps taken by INEOS Inovyn in 2021 to make our industry more sustainable through our four pillars: responsible production, carbon neutrality, circularity and value to society.
With this report, INEOS Inovyn further acknowledges its responsibility as a world leading PVC producer when it comes to changing mindsets and challenging existing practices along the whole value chain. The report sheds light on various achievements and projects, including:
- Comprehensive Net Zero Carbon Roadmaps across all sites to reach carbon footprint targets. Critical projects to improve the efficiency of our assets have been completed in 2021.
- Project Circle, which sees INEOS Inovyn develop advanced recycling technologies such as chemical recycling to treat PVC from various post-consumer waste streams. This will allow for the inclusion of recycled materials into our product range.
- Further development of bio-sourced products with the launch of REODRIN™ – the world’s first commercially available grade of bio-attributed epichlorohydrin – as well as the expansion of our BIOVYN™ portfolio through extended RSB certification for sites in Sweden and Norway.
- The publication of our first range of Environmental Product Declarations, confirming INEOS Inovyn’s position as the European leader in low-carbon vinyl and chlor-alkali products.
- Acceleration of hydrogen development with project Aquarius, INEOS Inovyn’s first water electrolysis plant at our Rafnes site in Norway, as well as project HyBay which will see INEOS Inovyn ramp up the supply of hydrogen to fuel the UK’s transport.
- Strong support for the launch of VinylPlus® 2030, the European PVC value chain’s 10-year voluntary commitment to sustainable development.
Geir Tuft, CEO of INEOS Inovyn, commented on the report: “2021 was yet another exciting year for INEOS Inovyn. The path towards sustainability is still long, but with each year that passes we demonstrate that our company and the industry at large have the capacity to turn vision into reality.”
The full Report has been prepared in reference to the Global Reporting Initiative (GRI) standards, which create a common language for organisations to report their sustainability impacts. It can be accessed here >> INEOS Inovyn Sustainability Report 2022.
December 16, 2022
Bio-Epi
INEOS Inovyn releases new sustainability report, with some ambitious new milestones
- Thursday, December 15, 2022
- INOVYN
- 2021 was a particularly fruitful year for INEOS Inovyn, marked in part by our commitment to reduce our carbon footprint by 33% before 2030 and reach net zero by 2050.
- In 2021, INEOS Inovyn deployed efforts focused on circularity, widening its panel of products made of bio-sourced materials, investing in the development of solutions for advanced recycling of PVC and supporting over 30 local charities and community organisations.
- INEOS Inovyn has been boosting its green hydrogen plans and plans to invest EUR 2 Billion to further cement its position as the European leader on this strategic market.
INEOS Inovyn has published its second sustainability report on 15 December 2022. The new report outlines the steps taken by INEOS Inovyn in 2021 to make our industry more sustainable through our four pillars: responsible production, carbon neutrality, circularity and value to society.
With this report, INEOS Inovyn further acknowledges its responsibility as a world leading PVC producer when it comes to changing mindsets and challenging existing practices along the whole value chain. The report sheds light on various achievements and projects, including:
- Comprehensive Net Zero Carbon Roadmaps across all sites to reach carbon footprint targets. Critical projects to improve the efficiency of our assets have been completed in 2021.
- Project Circle, which sees INEOS Inovyn develop advanced recycling technologies such as chemical recycling to treat PVC from various post-consumer waste streams. This will allow for the inclusion of recycled materials into our product range.
- Further development of bio-sourced products with the launch of REODRIN™ – the world’s first commercially available grade of bio-attributed epichlorohydrin – as well as the expansion of our BIOVYN™ portfolio through extended RSB certification for sites in Sweden and Norway.
- The publication of our first range of Environmental Product Declarations, confirming INEOS Inovyn’s position as the European leader in low-carbon vinyl and chlor-alkali products.
- Acceleration of hydrogen development with project Aquarius, INEOS Inovyn’s first water electrolysis plant at our Rafnes site in Norway, as well as project HyBay which will see INEOS Inovyn ramp up the supply of hydrogen to fuel the UK’s transport.
- Strong support for the launch of VinylPlus® 2030, the European PVC value chain’s 10-year voluntary commitment to sustainable development.
Geir Tuft, CEO of INEOS Inovyn, commented on the report: “2021 was yet another exciting year for INEOS Inovyn. The path towards sustainability is still long, but with each year that passes we demonstrate that our company and the industry at large have the capacity to turn vision into reality.”
The full Report has been prepared in reference to the Global Reporting Initiative (GRI) standards, which create a common language for organisations to report their sustainability impacts. It can be accessed here >> INEOS Inovyn Sustainability Report 2022.
November 30, 2022
Getting Serious
Brenntag confirms intention of acquiring Univar Solutions
US – Brenntag, a global market leader in chemical and ingredient distribution, has confirmed the possibilities of a mega-merger in global chemical distribution after it held preliminary discussions with Univar Solutions over a potential acquisition.
Although the two giants remain guarded about the details of exploring this possible takeover deal, Univar Solutions confirmed that it has received a preliminary indication of interest from Brenntag regarding a potential transaction.
“The company does not intend to make any additional comments regarding this matter unless and until it is appropriate to do so,” a Univar Solutions statement says.
This comes after Brenntag chief executive Christian Kohlpain had earlier hinted the company was eyeing mergers and acquisitions, looking to double annual spending in this direction.
“Brenntag sees strategic mergers and acquisitions as an enabler of future growth and thus will double the annual planned M&A spend to around €400 to €500 million (US$419 to US$524 million),” he said earlier this month as part of the highlighting of Brenntag’s growth strategy plans and targets for 2026.
The German ingredient giant said its acquisition strategy will be focused on five key pillars, such as accelerating growth in Life Sciences globally, enhancing strategic capabilities and market positions, expanding positions in emerging markets in both divisions, filling white spots to complement the existing portfolio and improving tech capabilities that enable efficiency gains.
The strategy marks “the next chapter of transformation” and clarified its intention to “shape the future of its industry.”
In its Q3 results, Brenntag posted a higher-than-expected third-quarter profit on Wednesday, saying it was able to balance European and global supply chains as rising energy costs affected the continent.
The group, whose services include storing large-scale quantities of chemicals and repackaging them into smaller quantities, had quarterly operating earnings before interests, taxes, depreciation, and amortization (EBITDA) rise of 34% to 460 million euros (US$463 million).
Brenntag affirmed an expectation to reach the upper range of its 2022 guidance of 1.75 billion to 1.85 billion euros in operating EBITDA.
At the beginning of November, Univar Solutions also reported its third-quarter 2022 highlights, which showed a substantial net income of US$130 million, 54% higher than the US$84.4 million reported in the prior year.
Univar Solutions – which changed its name to Univar Solutions following the acquisition of Nexeo Solutions in 2019 – also reported net sales of US$3 billion.
The announcement of the potential takeover has sparked a lot of debate in the market considering that the merger appears viable from an antitrust standpoint in a highly fragmented market.
“While Brenntag and Univar are respectively the #1 and #2 global chemical distributors, the industry remains highly fragmented, meaning combined market shares appear manageable in our view,” said Joshua Spector, Americas chemicals analyst at UBS, in a research note.
The UBS analyst added that only around 10% of total chemical sales go through distributors, and within this slice of the pie, a combined Brenntag/Univar would represent only 8% of global chemical distribution sales.
Fermium Research analyst Frank Mitsch pointed to Univar’s improving prospects after integrating the Nexeo acquisition and completing a challenging SAP enterprise software implementation, along with its limited exposure to more troubled areas outside the Americas with less than 20% of sales in EMEA and Asia, as attractive features from an investment perspective.
www.foodbusinessafrica.com/brenntag-confirms-intentions-of-acquiring-univar-solutions/
November 30, 2022
Getting Serious
Brenntag confirms intention of acquiring Univar Solutions
US – Brenntag, a global market leader in chemical and ingredient distribution, has confirmed the possibilities of a mega-merger in global chemical distribution after it held preliminary discussions with Univar Solutions over a potential acquisition.
Although the two giants remain guarded about the details of exploring this possible takeover deal, Univar Solutions confirmed that it has received a preliminary indication of interest from Brenntag regarding a potential transaction.
“The company does not intend to make any additional comments regarding this matter unless and until it is appropriate to do so,” a Univar Solutions statement says.
This comes after Brenntag chief executive Christian Kohlpain had earlier hinted the company was eyeing mergers and acquisitions, looking to double annual spending in this direction.
“Brenntag sees strategic mergers and acquisitions as an enabler of future growth and thus will double the annual planned M&A spend to around €400 to €500 million (US$419 to US$524 million),” he said earlier this month as part of the highlighting of Brenntag’s growth strategy plans and targets for 2026.
The German ingredient giant said its acquisition strategy will be focused on five key pillars, such as accelerating growth in Life Sciences globally, enhancing strategic capabilities and market positions, expanding positions in emerging markets in both divisions, filling white spots to complement the existing portfolio and improving tech capabilities that enable efficiency gains.
The strategy marks “the next chapter of transformation” and clarified its intention to “shape the future of its industry.”
In its Q3 results, Brenntag posted a higher-than-expected third-quarter profit on Wednesday, saying it was able to balance European and global supply chains as rising energy costs affected the continent.
The group, whose services include storing large-scale quantities of chemicals and repackaging them into smaller quantities, had quarterly operating earnings before interests, taxes, depreciation, and amortization (EBITDA) rise of 34% to 460 million euros (US$463 million).
Brenntag affirmed an expectation to reach the upper range of its 2022 guidance of 1.75 billion to 1.85 billion euros in operating EBITDA.
At the beginning of November, Univar Solutions also reported its third-quarter 2022 highlights, which showed a substantial net income of US$130 million, 54% higher than the US$84.4 million reported in the prior year.
Univar Solutions – which changed its name to Univar Solutions following the acquisition of Nexeo Solutions in 2019 – also reported net sales of US$3 billion.
The announcement of the potential takeover has sparked a lot of debate in the market considering that the merger appears viable from an antitrust standpoint in a highly fragmented market.
“While Brenntag and Univar are respectively the #1 and #2 global chemical distributors, the industry remains highly fragmented, meaning combined market shares appear manageable in our view,” said Joshua Spector, Americas chemicals analyst at UBS, in a research note.
The UBS analyst added that only around 10% of total chemical sales go through distributors, and within this slice of the pie, a combined Brenntag/Univar would represent only 8% of global chemical distribution sales.
Fermium Research analyst Frank Mitsch pointed to Univar’s improving prospects after integrating the Nexeo acquisition and completing a challenging SAP enterprise software implementation, along with its limited exposure to more troubled areas outside the Americas with less than 20% of sales in EMEA and Asia, as attractive features from an investment perspective.
www.foodbusinessafrica.com/brenntag-confirms-intentions-of-acquiring-univar-solutions/
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