Epoxy
December 16, 2020
Lanxess Eyeing Kalama
Lanxess Said to Join Race for $1 Billion Emerald Kalama Chemical
By Kiel Porter , Andrew Marc Noel , and Aaron Kirchfeld December 15, 2020, 11:26 AM EST
- HIG, Rhone, TPG also interested in specialty chemicals firm
- American Securities running auction process for Emerald Kalama
Lanxess AG is among suitors interested in making a bid for private equity-backed Emerald Kalama Chemical, which could sell for around $1 billion, according to people familiar with the matter.
The Cologne, Germany-based chemicals group is working with an adviser on a possible offer for the specialty chemicals company, which is being sold by American Securities, the people said. Emerald Kalama has also attracted interest from buyout firms HIG Capital, Rhone Capital and TPG, the people said, asking not to be identified discussing confidential information.
Representatives for American Securities, Lanxess, Rhone and TPG declined to comment. Representatives for HIG and Emerald Kalama didn’t immediately respond to requests for comment.
A sale of Emerald Kalama, which makes ingredients and preservatives used in foods and cosmetics, would mark American Securities’ exit from Emerald Performance Materials, a diversified group it bought in 2014 and has broken up. Dystar Global Holdings purchased Emerald’s polymer additives unit in 2016, while Huntsman Corp. bought the resin-ingredients business earlier this year.
Under Chief Executive Officer Matthias Zachert, Lanxess is on the hunt for acquisitions. The company has as much as 2 billion euros ($2.4 billion) to pursue dealmaking, Zachert said on an earnings call in November. Emerald Kalama would fit the CEO’s appetite for a higher-margin specialty chemicals asset. The specialty ingredients business being sold by Switzerland’s Lonza Group AG has also attracted interest from Lanxess, Bloomberg News reported last week.
December 16, 2020
Lanxess Eyeing Kalama
Lanxess Said to Join Race for $1 Billion Emerald Kalama Chemical
By Kiel Porter , Andrew Marc Noel , and Aaron Kirchfeld December 15, 2020, 11:26 AM EST
- HIG, Rhone, TPG also interested in specialty chemicals firm
- American Securities running auction process for Emerald Kalama
Lanxess AG is among suitors interested in making a bid for private equity-backed Emerald Kalama Chemical, which could sell for around $1 billion, according to people familiar with the matter.
The Cologne, Germany-based chemicals group is working with an adviser on a possible offer for the specialty chemicals company, which is being sold by American Securities, the people said. Emerald Kalama has also attracted interest from buyout firms HIG Capital, Rhone Capital and TPG, the people said, asking not to be identified discussing confidential information.
Representatives for American Securities, Lanxess, Rhone and TPG declined to comment. Representatives for HIG and Emerald Kalama didn’t immediately respond to requests for comment.
A sale of Emerald Kalama, which makes ingredients and preservatives used in foods and cosmetics, would mark American Securities’ exit from Emerald Performance Materials, a diversified group it bought in 2014 and has broken up. Dystar Global Holdings purchased Emerald’s polymer additives unit in 2016, while Huntsman Corp. bought the resin-ingredients business earlier this year.
Under Chief Executive Officer Matthias Zachert, Lanxess is on the hunt for acquisitions. The company has as much as 2 billion euros ($2.4 billion) to pursue dealmaking, Zachert said on an earnings call in November. Emerald Kalama would fit the CEO’s appetite for a higher-margin specialty chemicals asset. The specialty ingredients business being sold by Switzerland’s Lonza Group AG has also attracted interest from Lanxess, Bloomberg News reported last week.
December 14, 2020
BASF Increases Polyetheramine Prices
BASF to increase prices for select polyetheramines in U.S. and Canada
FLORHAM PARK, NJ, December 9, 2020 – Effective January 1, 2021 or as existing contracts permit, BASF will increase its prices in the United States and Canada for select polyetheramine products.
Product Price Increase
Polyetheramine D230M $0.09/lb.
Baxxodur® EC 301 $0.09/lb.
Polyetheramine D2000 $0.09/lb.
Baxxodur® EC 303 $0.09/lb.
BASF’s polyetheramine products are featured in many applications as highly efficient curing agents and used in various segments including coatings and sealing compounds, for use in wind energy and electrical industries, as well as in composites, adhesives and flooring. Baxxodur® is a registered trademark of BASF.
December 14, 2020
BASF Increases Polyetheramine Prices
BASF to increase prices for select polyetheramines in U.S. and Canada
FLORHAM PARK, NJ, December 9, 2020 – Effective January 1, 2021 or as existing contracts permit, BASF will increase its prices in the United States and Canada for select polyetheramine products.
Product Price Increase
Polyetheramine D230M $0.09/lb.
Baxxodur® EC 301 $0.09/lb.
Polyetheramine D2000 $0.09/lb.
Baxxodur® EC 303 $0.09/lb.
BASF’s polyetheramine products are featured in many applications as highly efficient curing agents and used in various segments including coatings and sealing compounds, for use in wind energy and electrical industries, as well as in composites, adhesives and flooring. Baxxodur® is a registered trademark of BASF.
December 10, 2020
Huntsman Increases Outlook
Huntsman Updates its Fourth Quarter Outlook
Download as PDF December 10, 2020 6:30am EST
THE WOODLANDS, Texas, Dec. 10, 2020 /PRNewswire/ — Huntsman Corporation (NYSE: HUN) today updated its fourth quarter 2020 outlook. Overall the Company currently expects its fourth quarter adjusted EBITDA to be better than its prior guidance and above the prior year by between 20% and 25%. For the Polyurethanes segment, fourth quarter adjusted EBITDA is now expected to be better than third quarter 2020 adjusted EBITDA by at least 20%. The increase versus the previous guidance is being driven by stronger than expected overall demand as well as higher MDI component margins, most notably in Asia. For the Performance Products segment, fourth quarter adjusted EBITDA is currently expected to be better than third quarter 2020 by nearly 15%. For the Advanced Materials segment, fourth quarter adjusted EBITDA is now expected to be approximately in-line with the third quarter 2020. For the Textile Effects segment, fourth quarter adjusted EBITDA is now expected to be approximately flat with the prior year fourth quarter.
The Company remains on-track to close on the sale of approximately 42.5 million shares it holds in Venator Materials PLC to funds managed by SK Capital Partners, LP before year-end 2020. Additionally, the Company intends to redeem in full €445 million in aggregate principal amount of its 5.125% Senior Notes due 2021 at par with available liquidity. The redemption date will be January 15, 2021, and the redemption price will equal to 100% of the principal amount of the notes, plus accrued and unpaid interest on the redemption date. Redeeming the notes will reduce the Company’s interest expense by approximately $25 million on an annual basis.
https://www.huntsman.com/news/media-releases/detail/465/huntsman-updates-its-fourth-quarter-outlook
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