The Urethane Blog
September 24, 2026
EMCO Acquires Pride, an Industrial Chemical Distributor in the U.S. Northeast
2026-09-24 09:40:32Source:ChemNet中文
North America’s renowned chemical distribution, custom blending and packaging service provider EMCO Chemical Distributors (hereinafter referred to as “EMCO”) announced today that it has signed an agreement to acquire all assets and business operations of Pride Chemical Solutions (hereinafter referred to as “Pride”). Pride is an industrial chemical distributor owned by the founding family, mainly serving the northeastern United States. The financial terms of this transaction have not been disclosed to the public.
Founded in 1970 by Arthur Dom Sr., and now led by Art Dom Jr., the company is headquartered in Holtsville, New York State, and has been a chemical distribution enterprise deeply rooted in the northeastern United States for many years. The company currently has more than 80 employees, and can complete the distribution, blending and packaging business of more than 3,000 inventory items for more than 1,500 cooperative customers in numerous downstream terminal markets. The enterprise has two distribution and packaging production bases, and is equipped with a dedicated transportation fleet, which can realize just-in-time delivery of chemicals.
Frank Belgonzi, Executive Chairman of the EMCO Board of Directors, said: “The acquisition of Pride is an important implementation of our strategic layout to expand EMCO’s business scope. In addition to relying on internal growth, we also continue to look for target enterprises with highly complementary businesses through mergers and acquisitions. I have known and worked with Art and the Pride management team for more than 35 years, and I have always respected them very much. In the future, we will invest resources to empower Pride and continue to grow and expand on the excellent foundation laid by the Dom family.”
Art Dom Jr., Chief Executive Officer of Pride, said: “When planning the future of Pride, I have always weighed carefully. More than 50 years ago, my father founded this company, but it was all the employees’ hard work, loyalty and responsibility that turned the founder’s vision into reality and created today’s Pride. For this reason, it is extremely important for me to find a partner that respects our brand, industry reputation and all employees, and I believe EMCO is such a suitable partner. Thank you to all the old and new colleagues of Pride. I sincerely appreciate everything everyone has done for the company, and I am very proud of the business we have built together, and I look forward to the continuation of Pride’s corporate heritage in a new stage.”
Jim Holcomb, Chief Executive Officer of EMCO, pointed out: “Pride has excellent industry reputation, stable supplier cooperation relationships, a dedicated employee team, and incomparable local infrastructure. These advantages have laid its leading position in the regional market. We look forward to working hand in hand with the Pride management team to help the future development of this enterprise and promote the overall business growth of EMCO.”
This transaction still needs to meet the conventional industry closing conditions to be completed. PKF Investment Bank served as the exclusive financial advisor for Pride’s sale this time.
About EMCO Chemical Distributors
EMCO Chemical Distributors is a leading chemical distribution, custom blending and packaging service provider in North America. Every year, the company completes the distribution and packaging work of chemicals with a total weight of more than 300 million pounds for more than 4,000 customers from all walks of life. EMCO operates eight distribution and packaging bases, an application laboratory and environmental protection service facilities, is equipped with advanced ISO 8 class 100,000 clean workshops, holds ISO 9001 and FSSC 22000 certifications, and has been recognized by the Global Food Safety Initiative.
September 22, 2026
BASF India evaluates MDI investment in Dahej, Gujarat
4 min read·Published on Sep 21, 2026 · 1:35 PM IST
BASF India Limited, a prominent player in the chemical industry, has announced plans to potentially expand its operations in India with a significant investment in methylene diphenyl diisocyanate (MDI) production. The company, under the broader umbrella of BASF SE, is considering the establishment of an MDI production complex in Dahej, Gujarat. This decision is part of BASF’s ongoing commitment to address increasing customer demand in the region.
The company disclosed that it is in the advanced stages of conducting a feasibility study concerning this new venture. As part of this potential expansion, BASF India has already secured an industrial land parcel in Dahej through its subsidiary, BASF India Polyurethanes Private Limited. The outcome of this study, alongside necessary regulatory approvals, will ultimately dictate the final investment decision.
MDI, a crucial component in the manufacture of polyurethane products, is instrumental across various industries. It plays a significant role in applications ranging from building insulation and refrigeration systems to automotive parts, furniture, and consumer goods. This development aligns with BASF’s strategic vision to bolster its production capabilities in response to the dynamic needs of these sectors.
BASF’s consideration of expanding its MDI production capacity underscores the importance of the Indian market in the company’s global strategy. The investment, if approved, would not only support BASF’s growth ambitions but also contribute to the technological and industrial advancement of the Indian chemical sector.
This announcement reflects BASF’s strategic foresight in identifying growth opportunities and its dedication to enhancing its service offerings tailored to regional market demands. As BASF continues its feasibility study, stakeholders will be keenly observing developments, anticipating a positive outcome that could further cement the company’s presence in India.
https://businessupturn.com/business/basf-india-evaluates-mdi-investment-in-dahej-gujarat
September 21, 2026
Kumho Petrochemical boosts R&D spending despite downturn, targets high-value and eco-friendly materials
Sep 21, 2026, 09:53 am
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| A view of Kumho Petrochemical’s Ulsan rubber plant. / Kumho Petrochemical |
Kumho Petrochemical Group is turning to research and development to weather the prolonged downturn in the petrochemical industry. Rather than expanding output of commodity products, the group plans to increase the share of high-value specialty and eco-friendly materials while broadening research into new areas such as next-generation batteries to secure both profitability and future growth.
According to Kumho Petrochemical Group on Sept. 21, major affiliates including Kumho Petrochemical, Kumho P&B Chemicals, Kumho Mitsui Chemicals and Kumho Polychem are concentrating their R&D capabilities on upgrading existing core products, developing eco-friendly processes and advancing materials for future mobility.
Kumho Petrochemical is strengthening its competitiveness in high-performance synthetic rubber, particularly solution styrene-butadiene rubber, or SSBR, used in tires for electric vehicles and other applications. The company completed a 35,000-ton capacity expansion last year and began commercial production. SSBR improves tire durability, fuel efficiency and wear performance, and demand is expected to rise alongside growth in the electric vehicle market.
In the environmental sector, the company has built carbon capture, utilization and storage facilities capable of capturing about 76,000 tons of carbon dioxide annually. It has also developed technology to convert recycled ABS recovered from discarded home appliances into materials for automotive interiors. The company expects the material to meet automotive standards for heat resistance and impact strength while reducing carbon emissions by about 16%.
Kumho Petrochemical is also expanding beyond conventional petrochemicals into battery materials. The company is participating with POSCO Future M and BEI in the development of next-generation anode-free lithium-metal batteries.
Kumho P&B Chemicals is expanding its eco-friendly product lineup centered on epoxy. The company is developing waterborne epoxy products to reduce volatile organic compound emissions and low-carbon epoxy technologies using bio-based feedstocks. It plans to combine equipment investment with certification efforts to meet demand for eco-friendly materials in construction, shipbuilding, electrical and electronics industries.
Kumho Mitsui Chemicals is pursuing higher-value products while expanding production capacity for methylene diphenyl diisocyanate, or MDI, a key raw material for polyurethane. From December last year through the end of this year, the company is carrying out a 100,000-ton annual debottlenecking investment that will raise total capacity to 710,000 tons. It is also developing bio-content polyurethane systems, lightweight materials for automotive seats and products for high-performance sound absorption.
Kumho Polychem is focusing on increasing the value of ethylene propylene diene monomer, or EPDM, a specialty synthetic rubber. With the recent addition of a fifth production line with annual capacity of 70,000 tons, the company has established a total annual production system of 310,000 tons. It has also improved productivity and quality stability by applying ultra-low-temperature polymerization technology.
The company is also improving production processes to reduce energy use and carbon emissions, including the introduction of low-pressure chillers and waste-heat recovery systems.
Going forward, Kumho Polychem plans to expand its product lineup into materials that reduce EV driving noise, lightweight materials and thermal-conductive and insulating materials. The aim is to broaden its business from conventional products for automotive parts, hoses and cables into high-value materials for eco-friendly mobility.
Kumho Petrochemical Group plans to reduce its dependence on petrochemical market cycles by strengthening the technological competitiveness of core products such as SSBR, epoxy, MDI and EPDM while expanding its R&D scope into recycled materials, carbon reduction and next-generation batteries.
September 21, 2026
Asia-US container rates soar past $11,000, near pandemic records
Carriers add East Coast capacity
· Friday, September 18, 2026
Ocean carriers are capitalizing on an extraordinary spike in container freight rates from Asia to the United States, with spot prices now within roughly 18% of their pandemic-era highs on the West Coast and 11% on the East Coast, according to Xeneta data.
Rates from the Far East to the U.S. West Coast reached $7,960 per forty foot equivalent unit as of Sept. 17, while Far East-U.S. East Coast prices climbed to $11,259 per FEU. Both trades have more than quadrupled since late February, before the Hormuz crisis disrupted global shipping markets.
East Coast trade closest to record
The Far East-U.S. East Coast trade appears the likelier candidate to set a new all-time rate record, Xeneta Chief Analyst Peter Sand said.
The current East Coast spot rate is just 11.2% below its record of $12,683 per FEU, established Jan. 1, 2022, amid the supply-chain disruption of the Covid-19 era. The Far East-U.S. West Coast rate remains 17.9% below its $9,699-per-FEU peak, set Feb. 1, 2022.
“Spot rates from Far East to U.S. West Coast and U.S. East Coast are up 324% and 325% respectively since pre-Hormuz crisis at the end of February,” Sand said. “That leaves freight rates on these critical trades just 18% and 11% short of the all-time high set during the Covid-19 disruption.”
Rising bunker costs could further increase carrier fuel surcharges and push rates higher, he said, making a breach of pandemic records possible.
“If a freight rate record is broken, it is most likely to occur on the trade into U.S. East Coast,” Sand said. “But even if we do not see a new all-time high, the fact we are even discussing the possibility demonstrates how sensitive critical ocean container shipping trades are to geopolitical forces and how a regional conflict in the Middle East can have major implications at a global level.”
Capacity increases ahead of potential turn
Carriers are adding space from the Far East to the U.S. East Coast as demand and pricing remain strong, according to Xeneta. Offered capacity on that route in September is 6% to 7% above August levels.
Sand said carriers are moving to take advantage of the current pricing environment before market conditions potentially begin to change within the next two to three weeks.
“Carriers are seizing the opportunity while the market is hot,” he said. “Adding capacity into U.S. East Coast ahead of what could be a turn in the market” may help carriers capture elevated revenue while rates remain near historical highs.
That capacity response could eventually restrain the rapid escalation in spot pricing, particularly after the seasonal rush connected with China’s Golden Week holiday period.
Another rate push expected before Golden Week
Xeneta expects a further attempt by carriers to lift spot rates in early October as shippers accelerate exports from Asia before factory shutdowns and reduced production during Golden Week.
“We should expect one more freight rate push at the start of October as shippers rush cargo out of Asia ahead of the Golden Week shutdown,” Sand said. “Before rates start to soften, or at least the pace of growth will slow.”
The expected post-Golden Week slowdown would not necessarily mean rates fall immediately. Rather, it could mark an end to the sharp upward trajectory that has characterized the market since late February.
Europe trades also rise sharply
The disruption has extended beyond US import trades, although the magnitude of increases has varied considerably by route.
| Trade lane | Sept. 17 spot rate | Change since Feb. 28 |
| Far East-US West Coast | $7,960 per FEU | 323.6% |
| Far East-US East Coast | $11,259 per FEU | 324.7% |
| Far East-North Europe | $4,103 per FEU | 84.9% |
| Far East-Mediterranean | $4,434 per FEU | 33.2% |
| North Europe-US East Coast | $2,956 per FEU | 100.1% |
(Chart: Xeneta)
The Far East-North Europe trade rose nearly 85% from pre-crisis levels to $4,103 per FEU, while the Far East-Mediterranean route increased 33.2% to $4,434 per FEU. North Europe-U.S. East Coast spot rates more than doubled, reaching $2,956 per FEU.
The gap between U.S. and European price escalation shows that price pressure is concentrated on Asia-U.S. container trades, particularly services moving through or affected by the Middle East disruption and the changing economics of vessel deployment, fuel costs and available capacity.
September 17, 2026
€300/ton! Wanhua’s Hungarian plant initiates price hikes for European MDI and TDI
2026-09-17 14:26:17Source:ChemNet中文
On September 16, Wanhua Chemical’s overseas subsidiary Hungary’s BorsodChem officially released a price adjustment notice. Affected by the recent fluctuations in raw material prices and the continuous rise in energy costs in the European region, the company decided to unifyly increase the prices of all MDI, TDI and polyol products in the European market, with an increase of 300 euros per ton.
This price adjustment will take effect immediately. New orders will directly implement the new price, and existing orders will be fulfilled in accordance with the original contract terms. BorsodChem stated that this price adjustment aims to hedge against the continuously rising comprehensive production costs. The company will continue to ensure stable supply of goods in the European region, maintain high-standard customer service capabilities, and fully guarantee the normal production and operation of downstream manufacturing industries.
As the core polyurethane raw material production base in Europe, BorsodChem’s full-range price adjustment this time marks the official launch of a new round of price increases for polyurethane raw materials in Europe, which will directly transmit costs to local downstream industrial chains such as insulation, furniture, automobiles and building materials.
Overseas giants frequently adjust prices, and the global market is facing linked price hikes
Since September, the global polyurethane industry chain has entered a concentrated price increase cycle. International chemical leaders such as BASF, Huntsman and Wanhua have successively released price adjustment announcements, covering mainstream markets such as Europe, Southeast Asia, South Asia, the Middle East and other regions.
In early September, BASF took the lead in increasing the prices of MDI and TDI in Southeast Asia and South Asia markets by 250 US dollars per ton, and the price adjustment took effect immediately, which was mainly supported by raw material costs, logistics fees and tight regional supply and demand. On September 14, Wanhua Chemical followed up to adjust the sales prices in Southeast Asia and South Asia, raising the prices of MDI and TDI by 300 US dollars per ton, and polyether polyol by 400 US dollars per ton.
Meanwhile, Huntsman announced that starting from October 1, it will increase the prices of all MDI products in Europe, the Middle East, Africa and India by 285 euros per ton, further consolidating the upward trend of overseas market prices. Multiple enterprises have simultaneously released signals to support prices, and the overall global polyurethane raw material prices have entered an upward channel.
Domestic market also rises simultaneously, and raw material prices continue to stabilize and rise
Driven by overseas price hikes, combined with domestic plant maintenance and supply contraction, the domestic MDI, TDI and polyol markets have simultaneously warmed up, and prices have continued to rise.
Data shows that the spot price of domestic polymeric MDI has continued to rise since September. As of September 16, the mainstream market quotation has increased by more than 8% compared with the beginning of the month. The domestic TDI market remains high and firm, and local goods quotations have steadily climbed. Affected by the maintenance of major units such as Wanhua Yantai, the effective market supply has shrunk, the industry inventory is at a low level, and manufacturers have a strong willingness to support prices. In addition, foreign-funded enterprises such as Covestro have also raised the domestic TDI guidance prices simultaneously, further boosting the domestic market trend.
Polyol products have also followed the upward trend of the industrial chain. Driven by upstream raw material price increases and downstream rigid demand restocking, the domestic polyether polyol market has strengthened steadily, transaction prices have steadily increased, and market trading atmosphere has continued to improve.
Clear price increase logic, future market trend continues to improve
The collective price increase of polyurethane raw materials at home and abroad this round is driven by multiple favorable factors. On the one hand, the prices of international crude oil and basic chemical raw materials have fluctuated upward, and the bottom of the industrial chain costs has risen; on the other hand, European energy prices are running at a high level, the operation of multiple overseas units has been restricted, and the overall global supply is tight. At the same time, the traditional downstream peak season is coming, the terminal procurement demand has been steadily released, and the supply and demand pattern has continued to optimize.
Industry analysts said that the simultaneous price adjustments of global chemical leaders have significant regional linkage effects, and overseas price hikes will continue to be transmitted to the domestic market. In the short term, the prices of MDI, TDI and polyol raw materials will remain relatively strong, and the subsequent market trend will continue to dynamically adjust following the trend of crude oil, plant operating rate and changes in downstream terminal demand.
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