Chemical | 05 August 2020
Evonik beats profit forecast amid falling sales
Resource efficiency, nutrition and care posted robust performance.
Resource efficiency, nutrition and care posted robust performance.
The new facility will provide mid-scale commercial manufacturing to multiple customers and in particular, serve the growing needs of Servier, an independent international pharmaceutical company and long-term Lonza partner.
The sustainable facility, located near Princeton NJ, will bring together commercial and technical teams from across its business areas to further optimise successful collaboration with its key customers based in North America.
As per the officials explosion was caused by confiscated high explosive material.
The deal agreement was signed earlier this year in June.
Company will supply high-grade alcohol to Reckitt Benckiser (RB), the makers of Lysol, for use in their production of various disinfectants.
Crop protection sales went down by 30% to Rs 139.1 crore due lower vloume offtake caused by COVID-19
Customers can explore on-demand seminars and technical literature etc from the website
The deal has been closed post receipt of final regulatory approvals.
Red Rock Biofuels (RRB) for the company’s biomass-to-fuels facility.
The sales volume declined was most pronounced for products used in end markets negatively impacted by COVID-19, including transportation, building and construction, consumer durables, and textiles.
Net profit during the first quarter rose by 209% to Rs 551 crore.
Acquisition is part of its long term strategy to expand its capabilities in bio-engineering technologies.
The alliance combines GranBio's technology in second generation biomass and biofuels with NextChem's engineering intelligence, EPC capabilities and global presence.
Acquisition will help provide Brenntag with greater supply flexibility, manoeuvrability, and additional storage capacity on the east coast of the United States.
The acquisition is expected to close in the third quarter of 2020, subject to regulatory approvals.
The new subsidiary was officially registered on June 26th, and business operations will start from August.
The total value of the transaction, which is subject to an earn-out provision, is between 925 million euros and 1.0 billion euros.
Company's sales dropped by 21.74% YoY and stood at Rs 231.57 crore in Q1 FY21 as against Rs 295.92 crore previous year.
Company's robust expansion plans will help in increasing the revenue potential.
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