The US Bankruptcy Court for the Southern District of Texas has confirmed Venator Materials’ Plan of Reorganisation, ten weeks after the company filed for Chapter 11. Under this, it will complete a comprehensive restructuring that will see nearly all of its funded debt converted to equity while leaving trade obligations unimpaired.
The independent Science-Based Targets Initiative (SBTi) has confirmed that Evonik’s greenhouse gas emission reduction targets are in line with the Paris Agreement on Climate Change. This seeks to limit global warming to well below 2°C.
LBB Specialties, a Connecticut-based distributor of speciality chemicals and ingredients distribution in North America, is to restructure its go-to-market strategy through five industry verticals by the end of the year. These are: Care (formerly Personal Care), Food & Nutrition, Industrial Specialties (formerly Advanced Materials, Life Sciences and LBBS Canada (formerly Debro).
DC Fine Chemicals has laid the first stone at its new €7 million headquarters in Terrassa, Spain. This comprises a 3,050 m2 building on a 7,300 m2 site, which will allow for total storage without the need for external warehouses and capacity of up to 1,900 pallets on seven levels, compared to the 900 in the former warehouse.
Germany-based Evonik and Heraeus Precious Metals have announced that they are collaborating to expand their range of services for HPAPIs. They intend to build a fully integrated offering from the pre-clinical stage to commercial manufacturing, with streamlined transfer between small- and large-scale production between their respective sites.
Heraeus’s Pharmaceutical Ingredients business offers customised services for both earlier and later clinical phases and smaller to mid-volume HPAPI commercial products. It claims to be the world’s leading supplier of platinum-based HPAPIs.
Solenis has completed the previously announced acquisition of Diversey in an all-cash deal that gives Diversey an enterprise value of about $4.6 billion. The combined firm will have 71 manufacturing facilities, more than 15,000 employees and operations in over 130 countries. It will be majority-owned by Platinum Equity, with Bain Capital, which owned Diversey, keeping a minority stake.
Mitsubishi Chemical subsidiary Gelest has marked the groundbreaking for its latest production facility, the eighth in all, on a brownfield site at its headquarters in Morrisville, Pennsylvania. This will enhance its capabilities in applications such as microelectronics, medical devices, advanced thermal coatings and mobility, the firm stated.
