Archive | November, 2009

BASF in talks to JV styrene – IPIC a good fit

BASF is in talks to joint venture its styrene business before exiting the market, Bloomberg reported last week. Abu Dhabi’s IPIC (International Petroleum Investment Company) could be a strong contender for this transaction. I recently interviewed its managing director, Khadem Al Qubaisi, who told me he was close to a deal in Europe (pictured).IPIC wants […]

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Total trip to Qatar yields great images

Just back from a trip to Qatar with French chemical major, Total. We toured the Ras Laffan cracker, saw the inauguration of Qatofin’s new lldpe plant at Mesaieed, and had an update on Total’s global petrochemical strategy.Here are some images from the tripJournalists in hot, bumpy, minibusTotal Petrochemicals CEO Francois CornelisQatofin opening ceremonyIncense at the […]

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Close-up of stacks of bank notes

Poland chemical privatisation faces more delays

It’s perhaps not surprising that bidders are to be given extra time to submit binding offers for the package of Ciech, fertilizer, caprolactam and polymer producer Zaklady Azotowe Tarnow (ZAT) and nitrogen fertilizer, plastics and oxo alcohols producer Zaklady Azotowe Kedzierzyn (ZAK).Poland’s chemical industry privatisation, Polish state company restructuring agency Nafta Polska revealed the news […]

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IPIC names Bayer MaterialScience on list of possible acquisitions

International Petroleum Investment Company (IPIC) is in talks with five major petrochemical players in the US and Europe, including Bayer MaterialScience, and expects to close a European acquisition by the first quarter of 2010, the managing director of the Abu Dhabi-based company said on Tuesday.Khadem Al Qubaisi said technology from the new company would be […]

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Allandis a new force in European polymer distribution

Allandis, a new pan-European leader in polymer distribution, is to be launched in the first quarter of 2010, according to Peter Fields, its creator.Financing is in place and a series of acquisitions over the next 18 months will create a major player in European polymer distribution, said Fields, formerly chief operating officer at European distributor […]

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Brenntag ipo could stir up chemical distribution merger activity

BC Partners’ impending initial public offering of German chemical distribution group, Brenntag, could excite further merger and acquisition (m&a) activity across this sector. Azelis, IMCD and Univar could all be sold or IPO’d by their private equity owners if the Brenntag deal is successful.But this is a big “if”. Owners BC Partners have a big […]

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Poland chemical privatisation moves a step closer

The boards of Ciech, Tarnów and Kędzierzyn are to present the financial situation and investment strategies of their companies to potential investors from the short-list this week, according to Adam Leszkiewicz, deputy treasury minister, told the Polish News Agency (PAP), quoted in Polish Market Online.‘Investors interested in the privatisation of the first group of chemical […]

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Humet bids for Hungary chemicals company

Hungary’s pharma company Humet is leading a consortium to make a buyout offer for a multinational chemicals company, according to the Budapest Business Journal.The report says a consortium led by dietary supplement maker Humet has made a preliminary buyout offer for 100% of a Hungary-based multinational chemicals company with annual turnover of several billion forints.Humet […]

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