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Clariant sets climate targets

Clariant has committed to new 2030 targets to reduce CO2 emissions in line with the Science Based Targets initiative (SBTi), which has validated them. This follows the establishment last year a dedicated unit to accelerate its sustainability transformation. The targets are:

* 40% absolute reductions in Scope 1 (made directly during production) and 2 (emitted indirectly, mainly through consuming steam and electricity) greenhouse gas emissions (GHG) emissions on 2019 levels

* A 14% absolute reductions in Scope 3 (other indirect) GHG emissions on 2019 levels

COVID continues to cause postponements

Mack-Brooks Exhibitions has announced the postponement of the fine and speciality chemicals trade show, Chemspec Europe 2021 in view of continued uncertainties regarding travel restrictions and event planning during the COVID-19 pandemic. Last year’s show was twice postponed and finally replaced with a digital event.

Chemspec Europe 2021, the 35th in the series, was originally scheduled for 19-20 May at Messe Frankfurt. It will now be a hybrid physical-digital event on 29-30 September, merging the “on-site offer with interactive digital networking opportunities”.

Krahn buys stakes in six

Hamburg-based chemical distributor Krahn Chemie has bought majority stakes in six companies from Jollis & Partners of Sweden. This follows the acquisition of InterActive in Greece in 2020. Head of M&A Axel Sebbesse, said that it “represents another important step for the Krahn Chemie Group to sustainably secure its future and further strengthen its position as a pan-European distributor”.

Feature Article - Quietly weathering the storm

Carolyn Buller of Squire Patton Boggs takes a look back at a year like no other in chemicals

Squire Patton Boggs (SPB), a global law firm, has about one third of the top 60 chemical companies as clients and is constantly speaking with the industry about ongoing trends. The COVID-19 pandemic has made forecasting an even more treacherous business than ever and it is always hard to generalise over so broad a concept as speciality chemicals. ‘Specialities’ are a never-ending game – everything is or was a speciality until, one day, it no longer is.

Industry leaders warn on costs of UK REACH

In a letter to government ministers that has been seen by the Financial Times, 25 industry leaders have called for “a more proportionate, effective and efficient” post-Brexit chemical regulatory regime in the UK. The writers are understood to be from multiple trade associations, including the Chemical Industries Association (CIA), though this has not been confirmed.

Lonza to sell Specialty Ingredients business

Following a long period of speculation, Lonza has entered into a definitive agreement to sell its Lonza Specialty Ingredients (LSI) business to private equity firms Bain Capital and Cinven for CHF 4.2 billion in order to focus entirely on healthcare. The deal is expected to close in 2H, subject to customary closing conditions.

Lanxess to buy Emerald Kalama

LanxessLanxess has signed a binding agreement to acquire Emerald Kalama Chemical from private equity firm American Securities for €867 million. The deal, which will be financed from existing liquidity, should be completed in Q2, subject to approval by the relevant authorities.

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